Partnership with NFTY Finance
We are delighted to announce that NFTY Finance has integrated DIA’s price oracles into its platform to enable accurate on-chain transactions across multiple chains.
NFTY Finance is a cross-chain Web3 authentication layer used for subscription service, loyalty incentives and access management. NFTY provides verifiable ownership for digital assets, and $NFTY holders benefit as owners of the ecosystem currency that makes NFTs, and other digital assets, useful by automating their use as provable keys to access metaverses, gated content, experiences, communities, and much more.
We are excited to announce DIA’s new collaboration and oracle integration with NFTY Finance. With this new partnership, DIA will start delivering price oracles for the NFTY token, to power the NFTY Platform on Ethereum and the BNB chain. As the NFTY token will act as the primary mechanism for all functions within the NFTY ecosystem, DIA’s oracle services will play a critical role in the infrastructure of NFTY Finance.
In order to enable the accurate and reliable on-chain operations of the NFTY token, DIA has built a dedicated price feed oracle for NFTY. The feed was tailor-made for NFTY, with customized parameters such as update mechanism, frequency and computation methodologies. 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.
To build price oracles, DIA employs a unique fully transparent, open-source approach. While most oracles depend on third-party centralised data providers, DIA simultaneously sources trade data directly from centralized and decentralized exchanges. This aggregated trade data is then computed and sanitised based on fully transparent methodologies, delivering the final price points.
Michael Weber, DIA Association President comments:
“We are thrilled to cooperate with the NFTY Finance to create a custom on-chain price feed to power its platform. DIA’s open-source infrastructure enables the creation of accurate and reliable price oracles for any digital asset and NFT collection, regardless of volume and listing conditions. DIA’s price oracle will ensure the accurate and reliable on-chain transactions within the NFTY Platform.”
James Lawrence, NFTY CEO adds:
“The NFTY team is very happy to partner with DIA to receive an oracle solution for the upcoming NFT-DeFi platform that allows users to Borrow and Lend against NFTs at https://www.nfty.finance/. DIA has offered first-class speed and professionalism in creating our much needed solution, and we’re excited to continue working together in the future!”
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.