Coinspeaker
Truflation Expands Offerings with New Deadlift Index for Investors
Truflation, a blockchain data provider backed by Coinbase, is broadening its service offerings with the launch of its latest product, the Deadlift Index. The tool is designed for investors seeking innovative methods to track and assess market trends for more informed investment decisions.
According to a press release shared with Coinspeaker, the introduction of the Deadlift Index was inspired by independent research conducted by Pieter Levels, a blockchain enthusiast on X, which found that CEOs who regularly engage in weightlifting tend to outperform those within the S&P 500 who do not engage in similar activities.
Merging Fitness, Finance, and Corporate Performance
The Deadlift Index is designed to integrate fitness, market trends, and corporate performance, offering investors a novel way to evaluate companies. Truflation said its goal is to deliver a unique tool that not only tracks traditional Real-World Assets (RWAs) but measures corporate performance using non-financial indicators in real time.
The company described the new index as “an innovative tool for investors interested in creative and alternative market analyses. ” It sees the product as part of its broader mission to redefine how investors analyze and understand markets.
Stefan Rust, the company’s CEO and founder, said the launch is part of Truflation’s commitment to equipping users with the necessary tools for navigating today’s dynamic economic landscape.
“At Truflation, we aim to provide our users with the resources they need to adapt to an evolving economy. The Deadlift Index, along with our customizable user-created indices, offers unmatched flexibility in financial analysis,” Rust said.
Truflation’s Growing Portfolio of Market Tools
Truflation has been in the business of delivering real-time economic and inflation data to investors since its launch in December 2021. The company has rolled out various market tools including dedicated dashboards that track inflation rates for the United States, the United Kingdom, and Argentina governments.
According to Truflation, in addition to the new index, users are already showing interest in indices such as the Vegan Index, which measures companies that prioritize sustainability and ethical practices, or the Millennial Index, which targets firms led by millennials or those known for innovative business models.
The Coinbase-backed firm said it also provides customizable options for investors, enabling users to develop their own indices tailored to their personal investment strategies. All the indexes owned by the firm are powered by real-time data streams, ensuring live updates on the underlying components, unlike traditional indices that typically update at the close of a trading day.
Navigating Challenges Amidst Success
Despite its achievements, Truflation has faced several hurdles including a recent attack on the platform . In September, the decentralized data provider fell victim to a cybersecurity breach that resulted in the theft of approximately $5 million.
The Coinbase-backed firm disclosed that the attackers used malware to infiltrate its system, gaining access to company funds. At the time, Truflation stated it was working with law enforcement agencies and industry partners to identify the hackers and recover the stolen assets.
As part of its efforts to resolve the incident, the company has offered a $500,000Â bounty reward to the hackers for returning the funds or to any individual who can help identify those responsible for the attack.
Truflation Expands Offerings with New Deadlift Index for Investors
