Methodologies

CONSTI is creating and publishing crypto price feeds, an extensive collection of price data denominated in U.S. dollars, euros, and various other currencies for an expanding array of cryptocurrencies and other data classes. The crypto price feeds serve as a transparent and independent pricing source, fostering efficient markets, reducing information asymmetries, facilitating trading, and propelling the adoption of cryptocurrencies with the highest standards.

The crypto price feeds employ robust and resilient methodologies resistant to manipulation, adhering to international best practices for financial benchmarks. The CONSTI Governance Board, tasked with protecting the integrity of the crypto price feeds, ensures they remain a source of transparent and reliable pricing.

The methodologies are available online at: www.consti.tech/methodologies/

Oversight

The input data sources for the crypto price feeds comprise markets traded on centralized cryptocurrency exchanges (CEXs) and decentralized cryptocurrency exchanges (DEXs), approved by the CONSTI Governance Board. This committee evaluates markets based on various criteria to establish trustworthiness and transparency. Regular checks ensure existing data sources meet qualification standards, with the committee evaluating potential markets for inclusion based on client demand.

Crypto Price Feeds

Each crypto price feed is based on an individual aggregation methodology to maintain consistently high-quality standards. The subscriptions, such as

• Crypto Spot Data and Crypto Spot Data Pro,
• Crypto OHLC Data and Crypto OHLC Data Pro,
• Crypto Historical Data and Crypto Historical Data Pro,

are available online at: www.consti.tech/crypto-price-feeds/

Data and Calculation

• Data sources: Supported cryptocurrencies and quote currencies are detailed in each Price Feed's methodology. Supported assets and markets depend on reliability, security, and transparency, detailed in each Price Feed's methodology. Users can propose inclusions or exclusions, ensuring a dynamic and responsive selection process.
• Market selection: The Market Selection Process involves a systematic evaluation based on technology, legal and compliance, data availability, price quality, and trading volume. The CONSTI Governance Board reviews potential cryptocurrency exchanges, ensuring adherence to defined criteria.
• Data inputs: Observable transactions in active markets where the cryptocurrency is traded form the data inputs. Selection criteria prioritize observable transactions involving fiat currencies and extend to stablecoins.
• Data methodologies: All methodologies applied to the available products, including Crypto Spot Data Methodology, Crypto OHLC Data Methodology, Crypto Historical Data Methodology, can be accessed 24/7 online free of charge.
• Know-how transfer: CONSTI is constantly educating the financial community concerning crypto market data and its crypto price feeds using online trainings, its knowledge base, and extensive documents.

Definitions

Below, we will mathematically describe the value of various financial
assets. We denote any financial asset with

ai∈A

. To describe a price, we must
always look at the value of one asset to another. This is what we’re
going to call a feed

fi∈A×A

.
Any feed is now defined as

fi=aj/ak

 

where

aj is called base
asset and

ak

is called
quote asset.

Administration

CONSTI administers the crypto price feeds, overseeing all aspects of the determination process, from development and definition to operation and governance. All production and maintenance activities are conducted in-house without reliance on third parties for data feed determination.

Internal Oversight

The CONSTI Governance Board provides internal oversight, conducting regular reviews of the crypto price feed processes, methodologies, data sources, expert judgments, conflicts of interest, material changes, and complaints.

Conflicts of Interest

CONSTI enforces policies on conflicts of interest, periodically reviewed by the CONSTI Governance Board, addressing identification, disclosure, and management.

Material Changes or Termination

CONSTI may make material changes to or terminate a crypto price feed under specific circumstances, ensuring transparency and adherence to industry conventions.

Internal Control Mechanisms

Internal controls are implemented to protect the integrity of the CONST crypto price feeds, covering input data sources, data collection, and maintaining data integrity.

Feedback and Complaints

Complaints about the calculation methodology or performance of the price feeds can be submitted in writing to the CONSTI Governance Board, with transparent investigation procedures.

Internal Audit

An independent internal auditor appointed by the CONSTI Governance Board reviews adherence to this manifest, the stated methodologies, and compliance with policies.

Compliance

CONSTI commits to full cooperation with regulatory authorities in carrying out their duties.

Updates

Updates to the manifest and methodologies are constantly tracked and made available to customers of the crypto price feeds through the CONSTI action log.

Last update: 2024-01-14