S&P: First Onchain Derivatives Swap Completed
S&P executed its first onchain derivatives swap as DRW and Marex traded an OTC total return swap on the Canton Network referencing the iBoxx USD Liquid Investment Grade Index tokenized by KaikoData.
SourceAnalysis
S&P executed its first onchain derivatives swap when DRW and Marex completed an OTC total return swap on the Canton Network via Derivnex. The transaction references the iBoxx USD Liquid Investment Grade Index that KaikoData tokenized on Canton, with the token carrying S&P licensing rules and Kaiko supplying signed index values for pricing. Derivnex keeps all trade terms in one smart contract that persists for the swap’s life, replacing separate reconciliation systems.
Charles d'Haussy | dYdX
@charlesdhaussyCEO @dYdXfoundation - Crypto Derivatives, DeFi & Governance / ex. ConsenSys & .gov.hk