DIA Insights
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DIA Insights

Community AMA, September 2022

Here is a recap of the eleventh 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 eleventh Community AMA:

In this ninth Community AMA, we had with us members Paul Claudius and Samuel Brack. Please, welcome to this new session!

1. Do DIA have any plans to be listed in new exchanges?

The DIA token is already listed on all major CEXs and DEXs. It is possible to trade DIA in more than 40 pairs on +25 exchanges, such as Coinbase, Binance, Huobi, KuCoin, crypto.com, Uniswap.

You can check all $DIA pairs and listed exchanges by Coinmarketcap and Coingecko.

https://coinmarketcap.com/currencies/dia/markets/ or https://www.coingecko.com/en/coins/dia

2. Does the bear market affect DIA DAO and contributors? How is the progress and development now?

There are absolutely no bears at the DIA DAO! :) The bear market and the overall current economic situation have forced DIA, like any other DAO out there, to behave more cautiously and maintain our risk averse treasury management. However, the DAO is utilising this time in the best possible way: building reliable and valuable product and tech stack to enable and support the dApps of tomorrow. We recently launched two major product updates: xFloor, the customizable floor price oracle; and Multi-Randomness, the multi-chain random number generation oracle.

Additionally, we continue pushing on the DAO side, improving its decentralised organisation, tooling, processes and much more. Since the inception of its work DAO, the DIA DAO has 1000+ members on Discord, 350+ applicants, 70+ active contributors, 450+ bounties completed, 11k+ earned by the DAO community, and ranked as the 6th top DAO on Dework. These figures get updated every week as we keep progressing, improving and scaling. To keep track of those, we suggest checking the weekly DAO updates on the DIA Community Hub Twitter account or by joining the DIA DAO Discord server.

And lastly, we have spent the last few weeks focused on finalising a major update that will mark the beginning of a new phase in DIA’s short history. As you know, DIA has been building for the past months, executing DIA’s core mission to provide access to transparent data by building a unique value proposition in the oracle space. In order to reflect its maturity as a key data provider for the Web3 space, soon, we will unveil a new look as well as a website that will make most of these developments tangible.

We can’t wait to share more news on this. Stay tuned for that on our Twitter account: http://twitter.com/DIAdata_org

3. Is there is any job available for community manager and remote job. I am interested for this project.

Thank you very much for your interest in joining DIA. There are currently no open positions to join the core team. However, we are always looking for new DAO members to join the community of contributors.

Currently, there are 60+ open tasks across 7 different guilds in the DIA DAO page. If you are an experienced community manager or mod, I suggest you take a look at the tasks in the Growth & Promo Guild and Operations Guild.

You can visit DIA DAO’s Dework profile to see all open tasks and guilds: https://go.diadata.org/DAO-Dework

Before you can start contributing, you must complete the onboarding. If you need help with onboarding, you can get help from our Discord community.

Join DIA DAO Discord Server: https://go.diadata.org/DAO-Discord

4. The team recently launched a Randomness oracle. What is unique about it? How is it built?

I guess you all already know that unpredictable random number generation has become an essential building block for Web3. Decentralised applications, ranging from Web3 games to NFT collections or prediction markets, rely on random numbers to operate. For instance, a random number can grant a game with a lottery mechanism to reward players fairly or provide unpredictable attributes to a collection of NFT artworks.

And you probably know as well, dApps, its users and liquidity, live in a broad variety of ecosystems. DIA, as a multi-chain oracle platform, early on identified the need to provide oracle services across all these blockchain platforms. DIA’s open-source and modular architecture enable us to quickly integrate our architecture with new L1 and L2s. Therefore, we built a randomness product, also capable of quickly being deployed in new networks, and hence its name: DIA Multi-Randomness. Currently, it has been deployed in chains like Astar, Aurora, Polygon or Moonbeam, among others, and we are looking into integrate it with new chains based on user’s demand.

To offer distributed and verifiable randomness on-chain, DIA leverages drand’s distributed randomness beacon, enabling verifiable, unpredictable and unbiased random numbers. From random number generation to on-chain distribution, DIA Multi-Randomness operates as follows:

- Drand randomness generation: in every drand epoch (currently set at 30s for the existing League of Entropy (LoE) beacons, but planned to be decreased on future “unchained” beacons) each of the nodes that form the drand network generates a partial signature, which it broadcasts to the rest of the nodes. Once any node has enough, i.e., a threshold number of signatures, it computes the new randomness beacon, which is the hash of the signature aggregate.

- Drand randomness propagation and consumption: the new beacon is propagated through the network to all other nodes. Any node can verify and accept or reject the hash of the signature (i.e., beacon) that it received. Any client or application can consume randomness out of band (i.e., without needing to be part of the drand network) either through the public HTTP APIs or through libp2p’s pubsub protocol, Gossipsub. Clients can also verify that the randomness they received is indeed the one produced by the drand network.

- DIA on-chain distribution: the final randomness signature is shipped on-chain as an oracle smart contract. In order to effectively and securely execute these on-chain transactions, DIA has built a robust, decentralised node infrastructure — dubbed DIA xNode. DIA xNode is a network of third-party, decentralized node providers that grant DIA the blockchain infrastructure to push data on-chain ensuring high rate limits.16:16

You can learn more about DIA Multi-Randomness here: https://medium.com/dia-insights/dia-multi-randomness-distributed-multi-chain-randomness-oracle-4de9bf866125

5. It is pretty impressive to follow DIA’s development. Every week the team keeps shipping new updates. I am specially impressed in the data sources side. What’s the current state on that front? And goal?

As new L1 and L2 ecosystems are being built and expanded, so does the need for accurate market data to build reliable applications in those networks. There are already a few multi-chain oracle providers out there that can push off-chain data into these networks. But there is an additional layer to it. New ecosystems also mean new native tokens, only deployed in those networks. As most oracle providers publish on-chain, data feeds pre-calculated by third party providers, they are dependent on those organisation to support new assets, before they can push them on-chain.

DIA does it differently. We have built an open-source architecture capable of directly integrating new exchanges to fetch market data native to those network. This means that DIA can quickly built a exchange scraper to collect all trades for assets that take place in a specific DEX in a new network. This allows DIA to ensure the broadest asset coverage on new networks and provide accurate price oracles for new, network native tokens. Additionally, DIA can provide full transparency on the process, from data aggregation directly from the DEX’s smart contracts, to its processing, price determination and publication.

As a result, with these new supported price oracles, DIA is providing the rails to further develop these new ecosystems and enable new use cases based on these new assets. For instance, DIA can provide price oracles to support decentralised lending & borrowing services for new assets.

Let’s take the example of the Metis network, the Ethereum scaling solution. DIA has already integrated 3 DEXs in the Metis ecosystem: Netswap, Tehthys and Hermes Finance. This allows the creation of price oracles for a broad range of Metis native assets, traded in the aforementioned exchanges. By collecting trade data from 3 different exchanges, the risk of single point of failure for asset price feeds is reduced, fostering the ecosystem’s development with access to reliable price oracles for its native assets.

Regarding DIA’s goal, our mission is to become the Wikipedia of Web3 data, and provide the broadest and most reliable data library for DeFi, NFTfi and GameFi, across all L1s and L2s.

In our documentation, you can track DIA’s progress on the integration of new data sources: https://docs.diadata.org/documentation/methodology/data-sources-and-data-collection-methodology/cryptocurrency-trading-data

6. What is the purpose of DIA DAO? Is it simply being built to keep the community active or is it critical to DIA’s roadmap?

When DIA launched in 2018 with a reduced core team and an open-source approach, we managed to set up a fully operational data and oracle platform in a very short time frame. To achieve this, we heavily relied on a distributed community of developers in Gitcoin to quickly build key modules of the DIA platform. That marked the beginning of the DAO. Since then, DIA still leverages a decentralised pool of contributors to continue building new modules and features. This open-source approach has proven to be a very effective way to scale our technical development.

A few months ago, we started to scale the rest of DIA’s operations across the different departments/ guilds. Currently, the DIA DAO is still in its initial phases, as we have spent the last months setting up the right processes, tools, frameworks and more. But I can already say that many of DIA’s critical operations have been moved to a DAO setup, in order to not only scale but also decentralise the development.

The final goal of DIA as a DAO is to become a fully-fledged DAO across all project verticals and leverage the wisdom of the crowds to build a best in class product and organisation

Start contributing to the DIA DAO by joining our Dework page: http://dework.xyz/dia-dao

7. I saw that lately, DIA is interacting with @ DIACommunityHub on Twitter. What is this account exactly? Is it directly linked to DIA?

The DIA Community Hub is an open-source space created and curated by DAO contributors, in order to publish their work, educate on Web3, DAOs, oracles and share the latest DIA ecosystem news. It is present both on Twitter, for daily news and updates, but also on Medium, for the more elaborated pieces. The DIA Community Hub is not limited to education and knowledge dissemination. The Hub serves as a way for communities inside DIA DAO to merge and share opinions and achieve consensus on knowledge propagation, unleashing DIA DAO’s wisdom.

It’s a great project initiated and curated by the DAO community, and the core team has not have direct control over it but from time to time, we happily contribute to the Hub and interact with its accounts. It is definitely one to watch for.

You can learn more here: https://medium.com/dia-community-hub/dia-community-hub-an-endogenous-aggregation-for-dia-daos-wisdom-of-crowds-276c4ad0f49c

8. You launched NFT Floor Price Oracle in the past months. How is it different from the usual floor price? How does it work?

Indeed we recently launched DIA xFloor, to provide dApps with real-time price feeds containing the value of NFT collections. DIA xFloor enables Web3 builders to easily integrate NFTs into the DeFi ecosystem, and enable capital efficiency and drive mass adoption of NFTs. This represents a crucial building block to facilitate NFTfi use cases as it enables NFTs to be leveraged for DeFi applications such as lending and borrowing, staking and swapping, and many more.

A clear value proposition of xFloor, following DIA’s ethos, is to provide data based on fully transparent sources and methodologies. DIA xFloor is capable of determining NFT price by pulling historical sales data directly from the NFT marketplace’s smart contracts on its respective network and applying fully transparent data processing methodologies. By directly listening to the blockchain transaction and fetching data from the origin, DIA xFloor ensures full data accuracy and transparency.

When requested by users, custom filters and price methodologies can also be delivered. DIA applies outlier detection filters for the NFT floor price data and can produce custom price methodologies on demand.

An interesting fact about xFloor is that, as it tracks data from multiple NFT marketplaces including OpenSea, Looksrare or TofuNFT, among other, DIA xFloor currently offers support for almost 20.000 NFT collections.

To understand things in context, we could take the example of Zumer Protocol, the first xFloor user. Zumer Protocol has successfully integrated DIA’s NFT floor price oracle services into its platform. The custom NFT floor price oracle is feeding the Zumer protocol with accurate and timely NFT price feeds for various collections including Bored Ape Yacht Club, Crypto Punks, Mutant Ape Yacht Club and many more. The oracle will play a critical role in the operations of the liquidity protocol for collateralized lending of NFTs.

You can learn more about DIA xFloor here: https://medium.com/dia-insights/dia-xfloor-transparent-customizable-nft-floor-price-oracle-80687919587a

9. Are we going to see DIA taking part in events and conferences in the next months? They are still crucial to stay relevant within the space

Absolutely! We have been present in major events across the globe during this year so far, such as Polkadot Decoded NYC and Berlin, ETH CC Paris, NFT NYC, Blockchain Oracle Summit, etc.

The agenda is quite packed for us for the next weeks, as we will be speaking at the dAppcon and Borderless, both in Berlin. Afterwards, we will pack our suitcases and go to Lisbon for Solana breakpoint.

IRL events are back at full steam, and we want to be present in as many events as possible to continue building relationship with current partners as forge new ones. All new events and conference participations will be announced via our Twitter account. If we happen to be in the same event, don’t hesitate to DM and let’s meet!

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.

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DIA Core Team

DIA Core Team

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