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

#1Chris Zuehlke21-05-2025source ↗

All -

Please see the below for a proposal from Kaiko to become a weight 6.5 Super Validator, they would like to submit it to the discussion and voting process. We have been speaking with Ambre (Kaiko CEO) and team about this and are happy to sponsor the CIP in its current form.

In particular, I like how adoption centric the KPIs are. In addition to weight being unlocked by strategic adoptors (delivery 3), there is a requirement to have an active user of their services in order to unlock the weight associated with the initial delivery of the read/write capabilities (delivery 1) rather than merely the delivery of the solutions unlocking the weight. I also think the fact that they've already engaged in providing feedback to the network is an important data point on a willingness to engage similarly in the future.

I've included a note from Ambre first and the proposed CIP second. Very curious to hear the group's thoughts.

Thanks

Chris

----Note from Ambre----

Preamble:

Kaiko proposes to bring utility to the Canton network through three different areas of development:

Delivering first Read/Write data applications (target delivery this summer)
First "Read" and "Write" applications, as well as independent pricing solutions
→ Weight: 3.0 (2.0 for Read, 1.0 for Write)
Including Canton in Kaiko Research (in the next 6 months)
Our upcoming tokenization network benchmark, general data-driven research, webinars and publications
→ Weight: 1.0 (0.5 for benchmark report, 0.5 for 1 webinar + 1 research publication)
Enabling strategic adopters to the Canton Network via data applications (within 12 months of generic data modules being live)
Development of generic data modules to enable third party data publishers to join the network, and modules enabling on-chain applications with data. These data applications will enable strategic adopters to join Canton with data solutions necessary to go to production.
→ Weight: 2.5 (0.5 per third party using Kaiko applications, capped at 2.5)

Besides these core deliverables, Kaiko commits to:

➔ being involved in governance and to run its own SV on mainnet (dev work well in progress for SV mainnet launch this summer)

➔ dedicating engineering resources to provide valuable feedback and suggestions on Canton documentation and code base1 (see examples and links in appendix)

➔ being active clients of applications and products on Canton (Kaiko has already committed to being the first client of a company moving away from Base to build their solution on Canton)

Thank you for your attention, and we look forward to working with you!

Best,

Ambre Soubiran

Kaiko, CEO

Notes:

1 Kaiko engineering team has already been contributing to Canton documentation and code base improvements through:

- Pull requests on the documentation page (link in appendix)

- Okta authentication solution, step by step documentation provided

- Helm charts hardcoded values feedback

- Support, contribution, and suggestions provided on the Slack channel #validator

------ Proposed CIP -----

CIP - XXXX - Kaiko Application for SV on Canton Network

Ambre Soubiran, CEO, Kaiko

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:

Delivering first Read/Write data applications

Deliverable

Acceptance Criteria

Deadline

Weight Earned

“Read” data applications:

Canton Network Data Distribution

1. Kaiko consumes data related to Canton activity

2. Kaiko processes and standardizes this data

3. Kaiko distributes this data through its enterprise platform (API)

4. At least one paying subscriber is

actively consuming this Canton data through Kaiko's platform

5. Kaiko provides documentation and

technical specifications for this integration

90 days

from CIP

Approval

2.0

“Write” data application:

Off-Chain Data

Publishing on

Canton

1. Kaiko sources financial data from an off-chain source (could be Kaiko’s proprietary data, if applicable)

2. Kaiko develops and implements a

secure, verifiable method to write this data to Canton Mainnet

3. At least one Canton participant is consuming this off-chain data on Canton

4. Kaiko provides documentation demonstrating data integrity and verifiability

throughout the process

180 days

from CIP

Approval

1.0

Including the Canton network in Kaiko Research

Onboarding of Canton in Kaiko Research

1.Tokenization platform benchmark / ranking report

Kaiko Research is developing a new ranking to benchmark tokenization platforms (similar to the Exchange Ranking) and commits to including Canton

2. Publications and Webinars
Kaiko Research commits to publishing reports including Canton data and to organise a dedicated Webinar session with the Research team

180 days

from CIP

Approval

0.5 for benchmark release

0.5 for 1 webinar + 2 research publications

Enabling strategic adopters to the Canton Network via data products

Enabling strategic adopters to the Canton Network via data products

Kaiko will deliver a generic data module enabling the on-boarding of third-party data providers to deliver data to the Canton network
Kaiko will deliver a generic data module to deliver data to whitelisted applications needing to consume data on the Canton network
Kaiko will manage licencing, sublicencing, and whitelisting of data from and to participants in the network
Kaiko will enable strategic financial applications to join Canton through data solutions necessary to go to production

(within 12 months of generic data modules being live)

0.5 per third party using Kaiko applications, capped at 2.5)

Kaiko being clients of companies building on Canton

Kaiko 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

Mechanics:

● The GSF Tokenomics committee commits to reviewing each of the proposed 3rd parties and use cases within 14 days of submission and clearly notifying Kaiko if they would count towards the delivery criteria.

● Kaiko will meet with the GSF Tokenomics committee once every 60 days to provide a detailed progress report towards stated deliverables.

● Kaiko commits to transparent communication of any challenges or obstacles encountered during implementation.

● For all integrations, Kaiko will provide comprehensive documentation, technical specifications, and proof of operational status

SV 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.

o The Applicant is responsible for all costs associated with the operation of the escrow SV

o The escrow SV will NOT mint rewards on a block by block basis

o 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

o 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

o The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.

o 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

o Applicant will be notified they have not met a deliverable by the GSF

o 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.

o 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

o 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

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:

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.
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.
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.
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.
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:

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.
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:

Proprietary data cleaning and normalization algorithms
Advanced market surveillance capabilities
Millisecond-level trade and order book data
Comprehensive historical archives dating back to 2014
SOC 2 Type II certified infrastructure

Institutional Relationships: Kaiko's client base includes top-tier financial institutions, exchanges, and market makers who represent potential Canton Network participants:

Global banks and investment firms
Asset managers and hedge funds
Cryptocurrency exchanges and market makers
Financial regulators and central banks
Index providers and ETF issuers

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.
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

● Google as IdP incompatible https://kaikodata.slack.com/archives/C08AP9QR7K4/p1743666525781419?thread_ts=1743666525.781419&cid=C08AP9QR7K4

● Variable double définition in docker compose deployment https://kaikodata.slack.com/archives/C08AP9QR7K4/p1738852874971819?thread_ts=1738852874.971819&cid=C08AP9QR7K4

● Helping other validator with whitelisting issue https://kaikodata.slack.com/archives/C08AP9QR7K4/p1742917848774349?thread_ts=1742917600.683589&cid=C08AP9QR7K4

● Helping other validator with MS IdP issue + bug workaround + initial Okta IdP doc https://kaikodata.slack.com/archives/C08AP9QR7K4/p1744954241702489?thread_ts=1744660985.938329&cid=C08AP9QR7K4

● Helping other val with kubernetes public ip settings (private cluster necessary) https://kaikodata.slack.com/archives/C08AP9QR7K4/p1747315745107879?thread_ts=1747315375.054099&cid=C08AP9QR7K4

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

#2Kinga Bosse21-05-2025source ↗

On 3. What are the quantifiable metrics of “ Development of generic data modules to enable third party data publishers to join the network, and modules enabling on-chain applications with data. These data applications will enable strategic adopters to join Canton with data solutions necessary to go to production.” Can this be tied to a target number of joiners? Also, how big is the effort to create generic data modules?

Kinga Z. Bosse

COO|MPCH|www.mpch.com

Book time to meet with me

#3Ambre Soubiran21-05-2025source ↗

Dear Kinga,

Thank you for this question, you have highlighted an important aspect of our proposal, so I'm happy to clarify:

Regarding point 3 - yes, this is directly tied to a specific number of joiners. We're requesting weight allocation only when strategic users are successfully onboarded to Canton through our data solutions (and we are conscious this will likely require the development of specific data modules to enable these users). Specifically:

Weight is unlocked at a rate of 0.5 per strategic user (no weight is unlocked as we deliver modules, unless it enables a strategic user on the network)
Each "joiner" must be using our data modules in production on Canton
These modules include (but not limited to) third-party data publishing capabilities, portfolio pricing solutions, privacy-enabled data delivery systems, etc.

Regarding the effort involved: Creating these generic data modules requires substantial work in both technical implementation and legal arrangements:

Technical effort: Building the data pipelines, ensuring data integrity, implementing proper verification mechanisms, and creating user interfaces
Legal effort: Managing licensing/sub-licensing rights, establishing data usage agreements, and ensuring compliance with data regulations
Business development: Long institutional sales cycles (typically 6-9 months)

We currently have a couple of active discussions with large institutions who will require data solutions to join Canton (under NDA). This is why we've allocated a longer timeframe for this portion of our weight.

Don't hesitate if you have any follow up question on this topic, I remain fully available.

Best regards,
Ambre
Kaiko, CEO

On Wed, May 21, 2025 at 11:10 AM, Kinga Bosse wrote:

Show quoted text

On 3. What are the quantifiable metrics of “ Development of generic data modules to enable third party data publishers to join the network, and modules enabling on-chain applications with data. These data applications will enable strategic adopters to join Canton with data solutions necessary to go to production.” Can this be tied to a target number of joiners? Also, how big is the effort to create generic data modules?

#4Ambre Soubiran21-05-2025source ↗

Dear Kinga,

Thank you for this question, you have highlighted an important aspect of our proposal, so I'm happy to clarify:

Regarding point 3 - yes, this is directly tied to a specific number of joiners. We're requesting weight allocation only when strategic users are successfully onboarded to Canton through our data solutions (and we are conscious this will likely require the development of specific data modules to enable these users). Specifically:

Weight is unlocked at a rate of 0.5 per strategic user (no weight is unlocked as we deliver modules, unless it enables a strategic user on the network)
Each "joiner" must be using our data modules in production on Canton
These modules include (but not limited to) third-party data publishing capabilities, portfolio pricing solutions, privacy-enabled data delivery systems, etc.

Regarding the effort involved: Creating these generic data modules requires substantial work in both technical implementation and legal arrangements:

Technical effort: Building the data pipelines, ensuring data integrity, implementing proper verification mechanisms, and creating user interfaces
Legal effort: Managing licensing/sub-licensing rights, establishing data usage agreements, and ensuring compliance with data regulations
Business development: Long institutional sales cycles (typically 6-9 months)

We currently have a couple of active discussions with large institutions who will require data solutions to join Canton (under NDA). This is why we've allocated a longer timeframe for this portion of our weight.

Don't hesitate if you have any follow up question on this topic, I remain fully available.

Best regards,
Ambre
Kaiko, CEO

#5Kinga Bosse21-05-2025source ↗

Ambre - Many thanks for the clarification.

Get Outlook for iOS

Show quoted text

From: cip-discuss@... <cip-discuss@...> on behalf of ambre via lists.sync.global <ambre=kaiko.com@...>
Sent: Wednesday, May 21, 2025 5:20:58 PM
To: cip-discuss@... <cip-discuss@...>
Subject: Re: [cip-discuss] CIP-00XX - Add Kaiko as a Super Validator of Weight 6.5

You don't often get email from ambre=kaiko.com@.... Learn why this is important

Dear Kinga,

Thank you for this question, you have highlighted an important aspect of our proposal, so I'm happy to clarify:

Regarding point 3 - yes, this is directly tied to a specific number of joiners. We're requesting weight allocation only when strategic users are successfully onboarded to Canton through our data solutions (and we are conscious this will likely require the development of specific data modules to enable these users). Specifically:

Weight is unlocked at a rate of 0.5 per strategic user (no weight is unlocked as we deliver modules, unless it enables a strategic user on the network)
Each "joiner" must be using our data modules in production on Canton
These modules include (but not limited to) third-party data publishing capabilities, portfolio pricing solutions, privacy-enabled data delivery systems, etc.

Regarding the effort involved: Creating these generic data modules requires substantial work in both technical implementation and legal arrangements:

Technical effort: Building the data pipelines, ensuring data integrity, implementing proper verification mechanisms, and creating user interfaces
Legal effort: Managing licensing/sub-licensing rights, establishing data usage agreements, and ensuring compliance with data regulations
Business development: Long institutional sales cycles (typically 6-9 months)

We currently have a couple of active discussions with large institutions who will require data solutions to join Canton (under NDA). This is why we've allocated a longer timeframe for this portion of our weight.

Don't hesitate if you have any follow up question on this topic, I remain fully available.

Best regards,
Ambre
Kaiko, CEO

On Wed, May 21, 2025 at 11:10 AM, Kinga Bosse wrote:

On 3. What are the quantifiable metrics of “ Development of generic data modules to enable third party data publishers to join the network, and modules enabling on-chain applications with data. These data applications will enable strategic adopters to join Canton with data solutions necessary to go to production.” Can this be tied to a target number of joiners? Also, how big is the effort to create generic data modules?

#6Jan Hoenisch22-05-2025source ↗

Hi all,

The weight seems high

Jan

From: cip-discuss@... <cip-discuss@...> on behalf of Chris Zuehlke via lists.sync.global <czuehlke=drwholdings.com@...>
Date: Wednesday, May 21, 2025 at 13:42
To: cip-discuss@... <cip-discuss@...>
Subject: [cip-discuss] CIP-00XX - Add Kaiko as a Super Validator of Weight 6.5

All -

Please see the below for a proposal from Kaiko to become a weight 6.5 Super Validator, they would like to submit it to the discussion and voting process. We have been speaking with Ambre (Kaiko CEO) and team about this and are happy to sponsor the CIP in its current form.

In particular, I like how adoption centric the KPIs are. In addition to weight being unlocked by strategic adoptors (delivery 3), there is a requirement to have an active user of their services in order to unlock the weight associated with the initial delivery of the read/write capabilities (delivery 1) rather than merely the delivery of the solutions unlocking the weight. I also think the fact that they've already engaged in providing feedback to the network is an important data point on a willingness to engage similarly in the future.

I've included a note from Ambre first and the proposed CIP second. Very curious to hear the group's thoughts.

Thanks

Chris

----Note from Ambre----

Preamble:

Kaiko proposes to bring utility to the Canton network through three different areas of development:

Delivering first Read/Write data applications (target delivery this summer)
First "Read" and "Write" applications, as well as independent pricing solutions
→ Weight: 3.0 (2.0 for Read, 1.0 for Write)
Including Canton in Kaiko Research (in the next 6 months)
Our upcoming tokenization network benchmark, general data-driven research, webinars and publications
→ Weight: 1.0 (0.5 for benchmark report, 0.5 for 1 webinar + 1 research publication)
Enabling strategic adopters to the Canton Network via data applications (within 12 months of generic data modules being live)
Development of generic data modules to enable third party data publishers to join the network, and modules enabling on-chain applications with data. These data applications will enable strategic adopters to join Canton with data solutions necessary to go to production.
→ Weight: 2.5 (0.5 per third party using Kaiko applications, capped at 2.5)