Partnership with Conflux
We are excited to announce that DIA and Conflux enter into a strategic partnership to integrate decentralized oracles into the Conflux Network.
Conflux Network is an open-source, layer-1 blockchain protocol delivering scalability, security, and extensibility for the next generation of open commerce, decentralized applications, financial services, and Web 3.0.
As the only public permissionless blockchain that is regulatory compliant in China, Conflux elevates startups and organizations across industries and continents to generate decentralized marketplaces and digital assets for meaningful business and social impact. Founded in 2018, Conflux has raised $35 million in capital from prominent investors including Sequoia China, Metastable, Baidu Ventures, F2Pool, Huobi, IMO Ventures, and the Shanghai Municipal Science and Technology Commission.
DIA will support Conflux’s mission to create a secure and interoperable flow of assets and data across borders and protocols. To do so, Conflux will integrate, as a key element of their architecture, DIA’s trusted oracles. They will fuel the Conflux Network with on-chain and off-chain price feeds enabling DApps to directly communicate with off-chain information, furthering DeFi innovation in key areas like dispute settlement, liquidation, and risk management, which all require off-chain data to be fed into smart contracts.
Eden Dhaliwal, Managing Director Conflux Network, comments:
“The growth of DeFi is dependent on oracles. Our partnership and integration with DIA adds the tremendous value of a reliable and verifiable bridge to off-chain data from a variety of sources. Continuing to close the gap between traditional finance and DeFi is a key step in our forward progress and the growth of the overall DeFi ecosystem.”
Michael Weber, DIA’s founder and association president, adds:
“Conflux is a great example of a versatile and scalable permissionless blockchain protocol, permitting the fast, secure and efficient flow of data and assets — and that is what we stand up for at DIA. We are excited to work together to keep developing the DeFi space into this direction.”
DIA (Decentralised Information Asset) is an open-source, financial information platform that utilises crypto economic incentives to source and validate data. Market actors can supply, share and use financial and digital asset data.