Say hello to Austin Federa, the CEO at Doubleo, who joins us today with particularly exciting news and a new partnership.
Grateful for your time, man.
Thanks for joining us.
Thanks for having me.
A new partnership with Calhi.
What exactly will Double0 be doing with Calhi and how did this whole thing come together?
Yes, so Calhi is one of the premier prediction markets out there, and prediction markets are rapidly.
Becoming core financial infrastructure, right?
These things may be started as a bunch of weirdos online predicting outcomes.
They are now integrated and part of the existing financial infrastructure.
And so what we're doing with Calci is 00 Edge is all about high speed, low latency, complete market data.
So all of this category of new finance platform, whether it's a crypto exchange or whether it's a prediction market.
They're not running on the same type of Wall Street grade infrastructure and data feeds that you would expect for something that's this important for our financial infrastructure.
So what we announced today with Calshi is a low latency market data feed for the entire sports book and the entire crypto perps market on CalSci.
Talk to us a bit more about the underlying business that you already have going on at 00.
What could you not do before that?
You now hope you could better do as sort of that low latency partnership.
Yeah, so we're bringing the best of the traditional financial infrastructure together with the best of the new finance infrastructure.
And so we are using the same types of technologies that Wall Street has used to distribute market data for decades at this point.
Multicast, dedicated fiber, low latency infrastructure, but we're making it much more accessible and connecting it into this whole new class of.
Prediction markets and new finance.
Was there a natural iteration to this happening because you know, we were not talking an awful lot about prediction markets, cow sheep, poly market or anyone else, several years ago and now much like the last interview on tokenization, I don't go 5 minutes without referencing a prediction market.
I had to imagine you saw where the puck was going over quite some time.
Absolutely, and we saw a demand from traders, right?
Like our our fundamental North Star is what do the big trading firms and.
What do retail traders want to trade, and there's this huge gap right now in information and data access between the big boys on Wall Street and, you know, the 3 or 4 guys in a Discord that are figuring out what the CPI is going to be and predicting it on Calhi.
Yeah, of course, and we always reference those polymarkets.
I find them to be, or or or those event contracts rather.
I find them to be really important, but also very cool bits of anecdotal data help me, help me as a journalist fill in the story.
A single post on Truth Social from the president can move markets in seemingly seconds.
How important is that real-time breaking news tradable data to the market today, more so than ever before?
Yes, certainly.
I mean, markets move on all sorts of information and access to information and free flow of information is the basis of open markets and honestly the basis of most modern capitalism.
And so the more we can do to increase.
Increase market confidence in that information, the more important it is for this infrastructure that's becoming core not just to new finance, but traditional finance.
You look at the, the flash crash in crypto on 10/10 of last year.
That was a market information data failure as much as anything else.
You had market makers feeling like they could not have the confidence to enter these markets and properly make them, and so you saw percentage point deviations on centralized exchanges, things.
You would never see in the traditional financial market because that data flow is so good.
And so we see a real gap there in the traditional markets and in the new markets to be able to bring that data together, provide it to many more people that can get access to a traditional multicast feed from NISE or NASDAQ, and, you know, prediction markets are becoming rapidly part of that core financial infrastructure, not just for the biggest firms, but small and medium businesses and individuals as well.
How do you ensure that not just relationships like this that you just announced with Kawhi, but in general this whole conversation, is there a lot of new tech that is influencing the market.
Everyone's trying to figure out the kind of rules of the road.
How do you make sure you don't give an unfair advantage to the professionals here on Wall Street as opposed to the day to day retail traders?
One of our core principles of 00 is that the data is open and available to anyone.
Anyone can come in and subscribe to the.
Products and get access to it.
One of the main markets we are seeing is AI agents actually coming in and getting this data and running automated trading strategies, and that's a really entirely new market.
Suddenly anyone with access to an AI agent and a virtual server somewhere can run their own trading strategy in ways that was just not possible even two years ago.
Austin Federa, CEO 00 here with big news today.
Congrats.
Thanks for joining us.
Thank you.
