Community AMA, November 2021
Here is a recap of the first Core Team AMA, a monthly session where the DIA Team will answer DIA’s community questions and suggestions on the DIA Telegram Community Chat.
Starting today, DIA started 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 this first Core Team AMA:
There is an ongoing hype on the Metaverse topic. DIA is very well positioned on this front through its oracle. How is DIA planning to make the most out of it?
The Metaverse build on a web3 layer consists of and integrates with fungible and non-fungible assets such as i.e. $MANA or $SAND and metaverse specific wearables and land plots just to name 2 non-fungible types of tokens.
In order to have a functioning and open ecosystem, resilient price feeds on these assets are indispensable. To support the emergence of an open and connected metaverse DIA is providing price feeds and metadata as well as working on different mechanisms to evaluate non-fungible assets to provide additional utility to this specific asset class.
The community believes that DIA needs to improve its marketing efforts and better position its presence in the market.
We are constantly improving, revising and expanding our marketing activities. Besides further increasing press outreach, which has produced visible results in the past weeks we doubled down on relationships with key opinion leaders in the space, increased our efforts to line up AMAs and panels with ecosystem partners and users of DIA and share multiple updates per week around our business development and product pipeline.
Our social engagement rate is well above average in the industry across the board. But that does not mean we rest. We continue to improve on all of the above, are positioning us on the agendas of larger events and much more.
Lastly, we are working on creating the rails for more community-driven marketing engagement in the coming weeks.
The first step towards this was the launch of the forum, where we want to hear your suggestions and ideas and it will be expanded and operationalised further soon.
Why is DIA not targeting localised markets such as the Russian on telegram? I believe creating a Russian group would be beneficial.
DIA is focussing efforts on managing one official English language channel in order to focus activity and resources on this.
There are several community run groups like Turkish or Vietnamese. If there is popular demand for a Russian language Telegram group we are open to creating this. The right place to push this type of initiative is via the DAO forum.
What’s the current situation with the DIA DAO? Can anybody participate? Will our suggestions be implemented?
Yes, anyone can participate in the discussion. DIA token holders can already submit ideas to improve DIA.
The first step to make this happen, is our DAO Forum where ideas can be shared, discussed and voted on. The forum has been live for a few weeks and will develop and mature over time.
If a submitted idea meets the qualitative requirements, it will be formalised and the DIA token holder community will decide whether to implement it or not. Learn how the governance process works and how to submit an idea to improve DIA via this link: https://dao.diadata.org/t/the-dia-dao-governance-process/51/3
What is DIA’s team idea for the next few months? What can we expect?
The general goal of DIA is to build the best-in-class oracle for DeFi. That means delivering reliable, transparent data to projects across the board, having the most transparent, customisable and reliable oracle with the broadest set of digital asset data and delivering it to as many ecosystems as possible.
We are already a leader in cross-chain interoperability, having deployed our Oracle on Ethereum, BSC, Polygon, Polkadot, Arbitrum, Moonbeam, NEAR, Celo, xDai and there are many more to come. What’s more, we are exploring and developing features on demand requested by users, which we will announce when they are fully tested and ready to deploy.
In addition, we are continuing to develop our positioning in the regulatory space and with policymakers via DIA Labs. Ioana Surpateanu, our CSO is leading this effort.
Lastly, we are developing structures and first steps towards a fully fledged DAO, which will encompass operations on all levels of the organisation in the upcoming years, including DAO involvement in product processes, governance, marketing and many more.
There are other bigger oracles like Chainlink. What’s special about DIA? How is DIA positioning itself in the market?
The main difference to Chainlink is the way we approach transparency and sourcing. The nature of our approach requires full end-to-end transparency on data. DIA pulls data directly from the source, meaning CEX APIs or directly from on-chain markets, aggregating prices from individual trades.
This raw data can then be customised for any purpose. Users can choose the sources and the methodologies that make up a price feed and have it delivered to any ecosystem, including Ethereum, BSC, Polygon, Polkadot, Arbitrum, Moonbeam, NEAR, Celo, xDai and many more to come.
Additionally, our crowdsourcing approach enables a quick and efficient turnaround of new data requests even far into the long tail. Where other oracles, who aggregate data from premium feed providers are dependent on what their partners deliver, DIA can deliver data for literally any asset that is publicly accessible via one of the major CEXs or DEXs — our offering already encompasses some 5000 digital asset prices and is growing as well as first EU regulatory compliance indices.
What is the current status of DIA ARTs? We haven’t heard anything since the Genesis event. When is it going to start to take place? When are the claimable pools going to open?
DIA ARTs as we have communicated from the start is an early play. The pre-release of the Metaverse ARTs gives early access to believers in the growth and interconnectivity of the metaverse, however there will be more ARTs for individual price feeds in the future. The roll-out of ARTs into DIA’s product processes will take place over 24 months.
Despite a long roll-out period, the team is working on an update which we will communicate in the current quarter. The update will provide Metaverse utility to ART holders. The details are crucial and we don’t want to release something prematurely, so we ask for your patience until we can announce it.
DIA Token’s price performance during the last bull run was not great. Why is that? Can the team do sth about it?
The team has no direct control over market behaviour. But ultimately, increased performance comes with increased traction.
We are especially focussing on the integration of the DIA oracle in the many ecosystems that are currently growing next to Ethereum and ramping up communications activity to generate exposure as described above.
Are there any staking programs running at the moment? Is it planned to launch one any time soon?
We have recently closed a decentrally hosted savings campaign which is currently still in lockup. Another savings campaign via Binance has been decided on and will launch in the coming days, where holders will be able to subscribe their DIA to earn interest and can withdraw funds any time. Please refer to the details here:
There will also be more such campaigns in the future. Watch this space and participate in the conversation in the DAO Forum!
Which criteria was followed to decide for a 1.5% APY on the Binance staking program?
A comparative APY analysis, risk evaluation and max. token exposure for the DIA treasury, as well as guidance from Binance was taken into account for the decision to set the APY at 1.5%. This is also a variable that could in the future be decided by the DAO. The staking will run for a minimum of 1 year.
The Polkadot ecosystem is gaining more and more attention in the last weeks/months. Is there any strategy in place to position DIA on this trend?
100%. The Polkadot ecosystem is one of the most interesting currently out there and we are active, integrating into as many para-chains and ecosystems within it. We have been building an off-chain worker for the Polkadot ecosystem very early on. This enabled us to work with projects from inception.
We are today providing feeds on live Kusama parachains and working with projects on the tooling for Polkadot parachains, depending on the auction results.
To date we have already integrated our oracle with Polkadot and many Kusama connected parachains including Acala, Moonbeam, Moonriver, Shiden, as well as dApps in these ecosystems like Standard Protocol (first DeFi stablecoin on Shiden) or Coinversation. We are driving talks with many more parachains and dApps and will update on a new product release in the coming weeks.
What are the plans on catching on to “hot but quality” trends like DeFi 2.0 with players like Popstickle finance and others as well as trending chains as Avalanche and Fantom?
We are constantly approaching and reviewing projects. This enabled us to execute in the last weeks integrations with many of the popular and exciting chains like Arbitrum, Celo, NEAR or Moonriver, to name a few. In the coming days and weeks, more relevant chains will be announced. Watch closely DIA’s channels.
What can the community do to help?
Community input and feedback is always welcome and appreciated. That is why DIA set up a DAO structure and provided a forum to collect, vote and implement community proposals. In order to create the utmost impact, the DIA community can design and submit proposals to improve DIA via the DIA DAO Forum. The best place to start is here:
Thank you very much everybody for participating in this first edition of the Monthly Core Team AMA. If you have any other topics you would like the team to answer to, make sure to forward them to DIA admins on Telegram and we will make sure they get covered in the next session next month.
