Partnership with CryptoLocally
DIA and Cryptolocally announce a strategic partnership to bring decentralised oracles for cryptocurrency pricing and fundamentals, DeFi lending rates and states and fiat exchange rate data feeds to the end-to-end DeFi gateway platform.
CryptoLocally aims to create an easy and accessible fiat gateway to DeFi and its tools for everyone, to empower everyone with the tools to take control of their financial future. By eliminating the middleman, CryptoLocally bypasses steep fees, interest rates, and other restrictions traditional financial institutions impose. CryptoLocally is already a trusted provider of a peer-to-peer (P2P) digital asset marketplace with no middle-man, offering out-of-band payment methods and a revolutionary smart contract escrow.
Cryptolocally will be integrating DIA data feeds as the major financial data delivery component in the Cryptolocally platform, enabling users to rely on trustable and transparent price feeds to power the platform’s products and services. The integration will encompass fiat currency exchange rates for all local currencies listed on CryptoLocally, price feeds for all 20+ cryptocurrencies listed on CryptoLocally and DeFi protocol interest rates and states.
“DIA is the perfect match for CryptoLocally, which needs to provide reliable sources of real-time cryptocurrency prices and interest rates to our users. DIA’s transparency and validation mechanism are exactly what we were looking for.”, Jae Chung, Co-founder and Cryptolocally’s Engineering and Security Lead says.
As Cryptolocally scales and with it the platform’s need for additional data points, the team will leverage DIA’s crowdsourcing approach to expand their data usage by issuing ticket requests via DIA’s data bounty board on Gitcoin.
“The lack of consumer friendly UX has been recognized as an issue for mass adoption in the blockchain space pretty much since its inception.” says Michael Weber, Co-Founder of DIA. “We are all the more happy to fuel projects like Cryptolocally who aim to enable access to DeFi for a broad consumer market by improving the general user experience.”