chainlink twitterTruflation Announces Successful Funding Round Web3 Startups

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hello everybody uh david post here managing director for corporate development and strategy at chain link labs and super pumped today that you have stefan here who is the founder and ceo of trufflation to talk about the recent funding announcement and all the other cool stuff that the project is doing um so staphon for for those who dont know about you uh in the project just kind of tell me what the project is about and what youre trying to accomplish yeah thanks thanks david great to be here and uh im glad to share what were working on at check it out but what were basically doing is taking real world economic data that impact everybody in their day-to-day lives as well as financial data and putting that onto um the chip blockchain onto chain link and making that available as an oracle for all these smart contracts to be able to access and how do you think what youre building is kind of interesting as weve talked its a combination of data products and financial products so how do you kind of see what do you see is the unmet needs right now for unchained data products and also on-chain financial products so truthfully i mean inflation is a big topic its impacting everybody that is earning a salary and we all know the prices are going up or our shopping carts are getting uh the content in the shopping cart is getting smaller and smaller and so what do we need to do about that and how do we aggregate that weve taken a novel approach to aggregating real-time price data and and computing that into one cpi index that actually is developing at the same time 12 different subcategories as a result out of that and those are then 12 different indexes that different types of businesses are interested in and only that one real estate index or that transportation index or the commodities pricing index etc and so thats sort of how weve sort of scaled from just one bucket cpi index into multiple different other indexes yeah super cool and what are you going to say is the future for the project do you think youll continue to focus primarily on inflation do you see that your mandate will expand yeah i mean wed love to expand right i mean at the moment you know sort of one of the things that ive always learned is ive done ive been very fortunate to have done a number of startups in my career as well but focus and focus and focus right thats really important and so our focus is really getting inflation right and sort of seeing what other datas are related to that right and one thing weve looked at is in you know 44 of a household expenditure goes towards rent or real estate related uh expenditures and so what weve looked at is one thing that weve seen an analogy to is is ooh theres other areas of rent which is in a metaverse so weve taken metaverse rental data and built out a metaverse index because in the metaverse the real estate that you earn in own in a sandbox in a in a decentraland etc or nft worlds those are also you know can be collateralized so i can borrow against that how do i find out what the price is of that lot of land and who do i trust as an oracle to have that in a smart contract that then initiates the loan and then identifies what the percentage is in terms of loan to equity ratio awesome yeah super super interesting and uh yeah just uh congrats on your funding around once you just tell the the community here uh howd it turn out who are you working with so it was really fun i mean working you know obviously winning the grant with the um inflation the chain link grant and the balaji grant you know were really excited to also have balaji come in as an investor but really super strong investors thanks to the relationship with chain link as well to be honest uh fundamental labs has come in c-squared and with fundamental labs ryan and henry really good individuals uh i did a i did a video interview with henry and and so if you havent seen that please check it out on my youtube channel um and then also you know omar who actually lived through in real time the impact in a country of how price increase associated with food would shoot up above 50 percent what that did to the population and what that economic impact was to the overall population and the nation as a whole and so really good advice that were getting from some of these uh strategic investors that have stayed super confident and super supportive even throughout this age and this time that weve been going through over the last 48 um hours yeah i think youre working with great people and uh you know weve enjoyed working with you uh you know i think we started chatting four months ago its been awesome to uh work with you throughout the this entire phase of the process and of course this is just the beginning of the collaboration so uh thank you very much for for spending time uh with me and providing information about the project the community uh once again startup with chain-link community we we will be having these things regularly so you can get exposure to awesome founders like stefan who are really doing things i think thatll have a long lasting change um you know i think for all of us so thanks for all your work and thanks for your partnership yeah i know thank you and look good and i can just emphasize again that its really been amazing working with chain link the chain link marines uh the community the ambassadors but also the business development team and then the development team by the software engineering team uh whove been supportive across the board um and so much so that were actually also participating in the changing hackathon and if youre a developer check out that hackathon there are lots of great prizes um and great uh co-developers to meet there as well awesome thank you david thanks for thanks for joining me thank you you In this video, Truflation founder and CEO Stefan Rust announces their successful funding round to support the development of their data-driven inflation index. By delivering Truflations index data to blockchains through the Chainlink Network, DeFi protocols can access daily inflation updates based on a mixture of market and financial data. Featured guest: Stefan Rust, Founder and CEO of Truflation Applications are now closed for Startup With Chainlink. Learn more about Chainlink BUILD, a Chainlink Labs initiative designed to accelerate the adoption of early-stage and established Web3 projects by providing teams with enhanced access to Chainlink services and technical support: Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains. Learn more about Chainlink: Website: Docs: Twitter: Chainlink Truflation Chainlink,Truflation,