DIA Insights
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DIA Insights

Partnership with AstridDAO

DIA’s customisable and transparent price feed oracles are powering AstridDAO, the Multi-collateral and decentralized stablecoin running on the Astar Network.

AstridDAO is a multi-collateral stablecoin built on Astar Network and for the Polkadot ecosystem. AstridDAO allows users to deposit various crypto assets including $ASTR, $BTC, $ETH, $BNB, etc., and borrow BAI, a fully backed stablecoin hard-pegged to the US Dollar, at a 0% interest rate with a minimum collateral ratio. With the $ATID token and $veATID token, people can vote to increase the reward weight of a stability pool, add new collateral assets, and more. BAI holders will be able to farm on different protocols on Astar Network to receive rewards and interest.

AstridDAO utilizes an Instant Liquidation mechanism, allowing the system to run with a 0% interest rate and a low minimum collateral ratio while remaining safe. AstridDAO can achieve higher capital efficiency compared with existing CDP projects.

We are excited to announce DIA’s new price feed oracle integration with AstridDAO. With this new partnership, DIA is delivering crowd-sourced price data feeds to power the AstridDAO protocol running on the Astar network. DIA will supply AstridDAO with accurate, reliable and transparent price feed for the asset pair Astar / USD.

DIA ensures high quality and resilient data feeds, thanks to its crowd-sourcing approach, unique in the web3 data and oracle landscape. While most oracles depend on third-party centralized data providers, DIA simultaneously sources trade data directly from centralized and decentralized exchanges. To come up with the final price points, the aggregated data is computed and sanitized based on fully transparent methodologies and sources, enabling AstridDAO to have full control and clarity over the data they depend on.

These requirements were transferred to DIA by submitting a DIA Custom Delivery Request (CDR) via the DIA DAO Forum and is publicly available to everyone. The AstridDAO CDR provides users a level of transparency on how the price data feeding the protocol is built.

See CDR #009: AstridDAO

Michael Weber, DIA Co-Founder comments:

“Stablecoin protocols are a critical component of Decentralised Finance and AstridDAO will play a crucial role in the development of the Astar ecosystem. We are thrilled to start delivering transparent and tailor-made price feed oracles to accurately enable AstridDAO’s operations on Astar Network. DIA’s granular and crowd-sourced approach will ensure a robust oracle infrastructure to effectively power the stablecoins development.”

AstridDAO team adds:

“We are excited to partner with DIA, a promising project building the cross-chain oracle platform for Web3. We will use DIA as one of the price feeds to our oracle assets. Through this partnership, we will be closer to our vision, building the user-friendly, reliable decentralized stablecoin on Astar for Polkadot. We are looking forward to working with DIA and contributing to the development of the Astar ecosystem.”

About DIA

DIA is a cross-chain, end-to-end, open-source data and oracle platform for Web3. The DIA platform enables the crowd-sourcing, validation and sharing of transparent and verified data feeds for asset prices, metaverse data and more. DIA data is simultaneously sourced at a trade level from multiple on-chain and off-chain sources and made available to developers on all relevant layer 1 and layer 2 networks.

Homepage | DIA Token | DIA DAO | Twitter | Telegram | YouTube

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Updates and insights about the developments on DIA — A cross-chain, end-to-end, open-source data and oracle platform for Web3.

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