DIA Insights
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DIA Insights

Community AMA, August 2022

Here is a recap of the tenth Community AMA, a monthly session where the DIA Team will answer DIA’s community questions and suggestions on the DIA Telegram Community Chat.

DIA is hosting a monthly Telegram AMA session with the core team. The aim of this monthly event is to improve direct communication between DIA and its community, by collecting community concerns and suggestions and having the DIA core team answer them.

Here is a recap of the ninth Community AMA:

In this ninth Community AMA, we had with us members Michael Weber and Carl Bruns. Please, welcome to this new session!

1.What is DIA’s goal/mission?

Always great to go back to the basics. Web3 applications rely on trustable and scalable data feeds to build reliable products, operate according to plan, and avoid exploitation and manipulation. DeFi primitives like lending protocols, derivatives projects or NFTfi applications can’t operate without oracles.

DIA’s mission is to serve this need by providing a trusted, transparent and accessible data infrastructure that serves the growing need for various data feeds, foremost digital asset pricing data. Our purpose is to power a financial market paradigm enabled by web3 with accurate and transparent financial data, accessible to anyone via robust and reliable infrastructure.

We do this by sourcing raw data at individual trade level and using that data to provide use case customised pricing feeds across more than 30 blockchains as oracles as well as for off-chain use cases as APIs. This enables us to maximise the transparency about the data feeds we provide, from the sources we use to the very specific methodologies we apply.

2.What makes you different from other oracles like Chainlink?

DIA differentiates from Chainlink and other oracles in many multiple levels:

First and foremost, DIA is a decentralized organization — DAO, meaning anybody can join and contribute to DIA’s development. This has enabled DIA to quickly scale its product and services with a very reduced core team.

On the product side of things, compared to other oracles, DIA provides fully transparent and customizable oracles, as DIA covers the whole data journey. What does this mean?

Most oracles distribute pre-built data feeds, calculated in centralized databases and hence, provide little or no information on how these feeds were actually created. So there is no customizability as well as transparency on where the data originates from and what calculation has been applied.

DIA on the other hand is integrated directly with a number of markets on a multitude of chains and CEX APIs. This enables us to source data at the individual trade level, making us capable of delivering fully customized price feeds in regards to sources, methodologies, update mechanisms and more — specific to each use case. As DIA covers the whole data journey from direct sourcing to delivery, it enables us to provide transparency on the creation of the oracles that will secure the dApps’ transactions.

3.What have been the latest developments happening at DIA?

July was quite an eventful month and here is a quick summary of what happened during the month in terms of product and business development:

-Launched Multi-Chain Randomness
- Launched an NFT Floor Price oracle for 18k+ collections
- Co-hosted the biggest Astar Network panel with 4 native dApps
- Co-hosted a panel on NFT Financialisation with Sumeria Labs and Outlier Ventures
- Attended the Ethereum Community Conference in Paris
- Integration with OKXChain and Boba Network
- Integrated new NFT Sources
- Integrated new DeFi sources: Crypto.com, Binance US, BitMex
- Partnerships with Gton, The Standard, Rikkei Finance

Make sure to follow DIA on Twitter to stay up to date with the latest developments: https://twitter.com/DIAdata_org

4.What has made the biggest impact on DIA’s growth?

The growth of DIA did not happen after a single event or news. Consistency in product development and integrations with various ecosystems, especially across a multitude of chains is one of the key foundations. Over the last 2 years, DIA deployed its oracles in 30+ L1/L2s. As a result of all these successful deployments, we have partnered with a large number of dApps across multiple ecosystems.

The nature of DIA’s infrastructure enables us to quickly and efficiently deploy on new networks and include new relevant sources and data categories to serve the rapidly evolving needs of the general web3 ecosystem.

In addition, key conversations and partnerships with TradFi incumbents and established corporates are a big driver for trust and access to more established markets. We continue to foster relationships in all these areas and constantly monitor opportunities for further integrations and product development to serve these markets.

5.If the oracle is not just collecting and providing price data, combined with the future metaverse decentralized social networking and any activities generated by Web3.0, please imagine what else can the Oracle provide? It is hoped that in addition to the development of DAO, DIA can also bring revolutionary development of Oracle.

DIA’s oracle services do not simply provide price feeds. In fact, DIA has built a robust and scalable open-source oracle platform, capable of sourcing data from any source. The team, together with the decentralized pool of contributors, is relentlessly adding new modules and features to the platform to cater for the ever-growing needs of Web3 while still serving the traditional financial space:

Currently, DIA’s product suite serves the following ecosystems:

-Decentralized Finance: price feeds for 2k+ assets from a wide range of ecosystems
- NFT finance: floor price and more data feeds for 18k+ NFT collections
- Metaverse: data and metadata from a variety of ecosystems
- Traditional Finance: price feeds for 20k+ of stocks, commodities and more to securely build Web3 dApps
- GameFi: DIA newly launched Multi-Randomness, an oracle providing smart contracts with unpredictable and unbiased random number generation, supporting gaming, lotteries, prediction markets and other on-chain use cases across multiple blockchains. Learn more here: https://medium.com/dia-insights/dia-multi-randomness-distributed-multi-chain-randomness-oracle-4de9bf866125

DIA’s open-source architecture, together with the wisdom of the decentralized community of contributors, enables the quick deployment of new integrations and features. This has enabled DIA to position itself as a key data provider and innovative infrastructure in the Web3 ecosystem.

As regards the future of the metaverse, there are certainly a multitude of interesting opportunities. We see the development of NFTfi applications as very relevant and exploring more complex and intricate price feed developments for non standard assets like gaming NFTs or other collections to improve capital utilisation for these. As a data provider, the need for our product is also strongly dependent on the trend that the market goes and the availability of the data that is needed to serve these trends.

At its core, the most relevant thing we can do is to provide an infrastructure that is optimised for robustness, reliability and accuracy of the data we provide. Our devs are working hard every day to improve the product on all these levels.

As regards the future of the metaverse, there are certainly a multitude of interesting opportunities. We see the development of NFTfi applications as very relevant and exploring more complex and intricate price feed developments for non standard assets like gaming NFTs or other collections to improve capital utilisation for these. As a data provider, the need for our product is also strongly dependent on the trend that the market goes and the availability of the data that is needed to serve these trends.

At its core, the most relevant thing we can do is to provide an infrastructure that is optimised for robustness, reliability and accuracy of the data we provide. Our devs are working hard every day to improve the product on all these levels.

6.Is there any plans to get people who won’t serve as contributors but are interested in the DAO involved in the community activities?

That’s an interesting question. As I see it, anyone who is involved in community activities is a contributor by definition

But more specifically: Currently, the DIA DAO’s main priority is to increase the number of qualified contributors to assume critical responsibilities and add value to the operation. That said, there are many ways in which community members can contribute in meaningful ways and be involved in the DAO:

- Participate in recurring votes to validate platform features via CARs
- Participate in community AMAs like this one by submitting questions
- Participate in community events like the community hangout on Discord
- Suggest new community events and activities
- Participate in many of the ongoing conversations on Discord
- Learn about DIA, our product, our mission and our activities in our Discord

Join the DIA DAO Discord server now: https://go.diadata.org/DAO-Discord

7.What is the current state in DIA DAO? Can you please give information about interaction, tasks and payouts in DIA DAO with figures?

DIA DAO is expanding every day and is starting to become a competitive place. The Discord community is growing every week and the number of applications to be a contributor to the DAO is increasing day by day. It’s only been 5 weeks since the alpha version was launched.

Here are some numbers for context:

Total DAO-Applicants: 270+
Total DAO-Contributors: 58+
Total paid out: 8509$+
Total Discord members: 950(%50+ increase in 5 week)
Total completed tasks: 70+

We are still very early and learning about how to best leverage all the brains we have in our community. A lot of initiatives are in conceptualisation and planning and will be shared soon.

About DIA

DIA is a multi-chain, end-to-end, open-source data and oracle platform for Web3.

The DIA platform enables the sourcing, validation and sharing of transparent and verified data feeds for traditional and digital financial applications. DIA’s institutional-grade data feeds cover digital asset prices, NFT floor prices, lending rates, FX rates and more.

DIA’s data is directly sourced from a broad array of on-chain and off-chain sources at individual trade-level. This allows DIA feeds to be fully customised with regards to the mix of sources and methodologies, resulting in tailor-made, high resilience feeds and thereby setting a new paradigm for oracles.

Homepage | Discord | Twitter | Telegram | Forum | Documentation

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DIA Core Team

DIA Core Team

DIA is a multi-chain, end-to-end, open-source data and oracle platform for Web3. https://go.diadata.org/