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CIP-0063: Add Kaiko as a Super Validator of Weight 6.5

FinalGovernanceby Ambre SoubiranCreated 27-05-2025Approved 28-05-2025
TL;DR

CIP-0063

Abstract

  • Add Kaiko as a Super Validator of weight 6.5, as milestones and deliverables are reached over an 18-month period of time, as proposed in the detailed deliverables list below.
  • Kaiko commits to building data solutions on the Canton Network, creating a suite of applications in order to:
    • Make Canton activity data available to consumers off-chain through the Kaiko API
    • Make Kaiko’s off-chain and other-chain data available on the Canton Network
    • Enable third parties to publish bespoke data onto Canton, in a privacy enabled manner
    • Enhance network value through real-world data integration and use cases
    • Provide increased visibility to Canton through the inclusion of Canton in Kaiko Research
    • Support the development of Canton by providing engineering feedback and suggestions on documentation and code base

About Kaiko

Kaiko is the leading cryptocurrency data provider, established in 2014, specializing in delivering high-quality, precise market data for digital assets. As a trusted source of comprehensive and reliable data for institutional investors, researchers, regulators, and enterprises, Kaiko delivers financial market data, analytics, risk metrics, pricing services, and regulated benchmark rates and indices servicing the digital asset industry.

Kaiko's robust data infrastructure and institutional-grade services position it uniquely to bridge the gap between traditional financial data, and the Canton Network ecosystem.

With a global team of data scientists, engineers, and market analysts, Kaiko brings technical expertise, industry connections, and data integrity standards to the Canton Network.

Key strengths that Kaiko brings to the Canton Network include:

  • SOC 2 Type II certified data infrastructure with 99% uptime
  • Established relationships with major financial institutions, exchanges, and data providers
  • Comprehensive market data spanning over 100,000 trading pairs and 150+ exchanges
  • Enterprise-grade APIs and data delivery systems already trusted by top financial institutions
  • An experienced team with deep expertise in blockchain, data science, and financial markets

Deliverables for full SV Reward:

  1. Delivering first Read/Write data applications
DeliverableAcceptance CriteriaDeadlineWeight Earned
“Read” data applications: <br> Canton Network Data Distribution1. Kaiko consumes data related to Canton activity <br> 2. Kaiko processes and standardizes this data <br> 3. Kaiko distributes this data through its enterprise platform (API) <br> 4. At least one paying subscriber is actively consuming this Canton data through Kaiko's platform <br> 5. Kaiko provides documentation and technical specifications for this integration90 days from CIP Approval2.0
“Write” data application: <br> Off-Chain Data Publishing on Canton1. Kaiko sources financial data from an off-chain source (could be Kaiko’s proprietary data, if applicable) <br> 2. Kaiko develops and implements a secure, verifiable method to write this data to Canton Mainnet <br> 3. At least one Canton participant is consuming this off-chain data on Canton <br> 4. Kaiko provides documentation demonstrating data integrity and verifiability throughout the process180 days from CIP Approval1.0

2. Including the Canton network in Kaiko Research

DeliverableAcceptance CriteriaDeadlineWeight Earned
Onboarding of Canton in Kaiko Research1. Tokenization platform benchmark / ranking report: <br> Kaiko Research is developing a new ranking to benchmark tokenization platforms (similar to the Exchange Ranking) and commits to including Canton <br><br> 2. Publications and Webinars: <br> Kaiko Research commits to publishing reports including Canton data and to organize a dedicated Webinar session with the Research team180 days from CIP Approval• 0.5 for benchmark release <br> • 0.5 for 1 webinar + 2 research publications

3. Enabling strategic adopters to the Canton Network via data products

DeliverableAcceptance CriteriaDeadlineWeight Earned
Enabling strategic adopters to the Canton Network via data products1. Kaiko will deliver a generic data module enabling the onboarding of third-party data providers to deliver data to the Canton network <br> 2. Kaiko will deliver a generic data module to deliver data to whitelisted applications needing to consume data on the Canton network <br> 3. Kaiko will manage licensing, sublicensing, and whitelisting of data from and to participants in the network <br> 4. Kaiko will enable strategic financial applications to join Canton through data solutions necessary to go to productionWithin 12 months of generic data modules being live0.5 per third party using Kaiko applications (capped at 2.5)
Kaiko being clients of companies building on CantonKaiko has already signed with one provider of Canton based products, and has committed to being the first client of another company moving their infra away from Base to build on Canton——

Please find the following detailed sections in Appendix:

  • Appendix I – Motivation
  • Appendix II – Why Kaiko?
  • Appendix III – Kaiko's Scope of Work
  • Appendix IV – Kaiko Engineering team contributions examples

SV Reward Mechanics:

  • An extraBeneficiary PartyID associated with the ‘escrowed’ Super Validator will be setup by the GSF with an SV Weight at the maximum earnable weight in the CIP that granted rights to that Super Validator.

    • The Applicant is responsible for all costs associated with the operation of the escrow SV
    • The escrow SV will NOT mint rewards on a block by block basis
    • All escrow SV rewards will go to the Unclaimed Rewards pool

  • ⅔ of the Super Validator Operators will update their configurations to allow GSF to host the full weight to be earned by the given Super Validator

  • Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group

    • Applicant is required to present a calculation for number of Canton Coin it should earn for meeting the requirements of the milestone

  • If the Tokenomics Working Group agrees the milestone has been met and agrees with the calculation, an announcement will be sent via the Tokenomics-Announce mailing List

    • The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
    • ⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to be minted by the Applicant’s Validator, based on the calculation approved by the Tokenomics working group.

  • If any milestones and associated rewards are not achieved by the deadline

    • Applicant will be notified they have not met a deliverable by the GSF
    • Remaining SV Weight assigned to the extraBeneficiary SV will be removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the same amount by a vote of the Super Validators.
    • The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards

  • Applicant is subject to CIP-0045 : SV Operating Requirements

    • If, at any time, the Applicant has been rewarded SV Weight > 2.5, they are required to operate their SV within 6 months of crossing that Weight. This SV node will join the network with an SV weight of zero (0) and may add weights as the SV completes the milestones listed in this CIP.

Appendix I – Motivation

The Canton Network's value and adoption are directly linked to the quantity and quality of data available within its ecosystem.

As institutional adoption grows, there is an increasing need for professional-grade data services that can bridge traditional finance, decentralized ledgers, and real-world use cases.

This integration requires:

  1. Institutional-Grade Data Access:
    Financial institutions require standardized, reliable, and compliant data sources to make informed decisions. By integrating Kaiko's enterprise data services, Canton participants gain access to institutional-quality data both on and off-chain.

  2. Cross-Chain Data Availability:
    As financial systems become more interconnected, the ability to access verified data from multiple sources becomes critical. Kaiko's integration enables Canton to become a hub for cross-chain and traditional market data.

  3. Data Monetization Opportunities:
    Participants in the Canton Network can benefit from new revenue streams by making their data available to Kaiko's client base of financial institutions and market participants.

  4. Enhanced Use Cases:
    Many financial applications require external market data to function effectively. By bringing Kaiko's comprehensive data offerings onto Canton, we enable more sophisticated financial applications and use cases.

  5. Market Visibility:
    Integration with major institutional data platforms increases the visibility and credibility of the Canton Network among traditional financial institutions.

This proposal creates a mutually beneficial relationship where Kaiko's data expertise enhances the Canton Network's capabilities, while Canton provides Kaiko with a secure, high-performance environment for next-generation financial data services.

Appendix II – Why Kaiko

Kaiko brings unique advantages to the Canton Network that make it a strong SV candidate:

  1. Established Market Position:
    As one of the longest-operating and most trusted cryptocurrency data providers (since 2014), Kaiko brings credibility and institutional relationships that can accelerate Canton's adoption.

  2. Technical Excellence:
    Kaiko has built a reputation for data quality, reliability, and coverage that meets the demanding standards of institutional clients. Key technical advantages include:
    a. Proprietary data cleaning and normalization algorithms
    b. Advanced market surveillance capabilities
    c. Millisecond-level trade and order book data
    d. Comprehensive historical archives dating back to 2014
    e. SOC 2 Type II certified infrastructure

  3. Institutional Relationships:
    Kaiko's client base includes top-tier financial institutions, exchanges, and market makers who represent potential Canton Network participants:
    a. Global banks and investment firms
    b. Asset managers and hedge funds
    c. Cryptocurrency exchanges and market makers
    d. Financial regulators and central banks
    e. Index providers and ETF issuers

  4. Complementary Capabilities:
    Kaiko's focus on data complements the existing strengths of current Super Validators, adding a specialized capability that enhances the overall network value proposition.

  5. Innovation Track Record:
    Kaiko has consistently pioneered new data products and market intelligence tools, demonstrating the innovative approach needed to advance the Canton Network ecosystem.

By approving Kaiko as a Super Validator, the Canton Network gains not just a node operator but a strategic partner with the technical capabilities, market position, and vision to drive institutional adoption.

Appendix III — Kaiko's Scope of Work

Kaiko commits to implementing a comprehensive suite of data services for the Canton Network ecosystem:

Phase 1: “Read” - Canton Data Consumption and Distribution (Days 0–90)

  • Establish secure connection to Canton Network data sources
  • Develop standardized data schemas for Canton-specific data
  • Implement data validation, cleaning, and normalization processes
  • Design and deploy APIs for Canton data distribution
  • Integrate Canton data into Kaiko's existing enterprise platform
  • Onboard initial clients to consume Canton data
  • Produce integration documentation and technical specifications

Phase 2:“Write” - Off-Chain Data Publishing on Canton (Days 91–180)

  • Develop secure data signing and verification mechanisms
  • Implement data publishing protocols on Canton Mainnet
  • Establish subscription mechanisms for data consumers
  • Deploy initial use cases leveraging off-chain data
  • Produce integration documentation and technical specifications

Phase 3: “Third-party data applications” - Institutional Platform Integration (Days 181–2Y)

  • Establish technical connections with major data platforms
  • Implement compliance and data governance frameworks
  • Create documentation and marketing materials
  • Monitor and optimize data delivery and quality

Phase 4: “Oracle” - Use Case Enablement (Ongoing through 2Y)

  • Collaborate with Canton participants to identify valuable use cases
  • Develop proof-of-concepts for priority use cases
  • Implement production-ready data solutions for selected use cases
  • Provide technical support and guidance for implementation
  • Document successful implementations as case studies
  • Measure and report on impact and value creation
  • Create roadmap for future data-driven use cases

Throughout this scope of work, Kaiko will maintain regular communication with the GSF Tokenomics committee, provide detailed progress reports, and ensure all deliverables meet the specified acceptance criteria.

Appendix 4- Support/feedback provided by Kaiko Engineering team

Deployment doc contributions https://docs.sync.global/validator_operator/validator_helm.html

Copyright

Changelog

  • 2025-05-27: Initial draft of the proposal.
  • 2025-05-28: Approved CIP