DIA Insights
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DIA Insights

Partnership with OmniDex

We are excited to partner with OmniDex to provide accurate price points to the AMM Lending and Exchange platform to support a wide variety of assets.

OmniDex is a automated market-making (AMM) decentralized exchange full service decentralized trading platform built on the Telos EVM blockchain. It allows users to swap, farm, lend and earn rewards on the first native DEX DeFi protocol built on the Telos EVM. By choosing this super-fast, scalable network, OmniDex offers investors low-cost rapid transactions and enables them to avoid many of the potential pitfalls of investing on other networks. The ultimate goal for OmniDex is to provide a full service, decentralized trading platform that is easy to understand, simple to use and accessible to all.

We are excited to announce DIA’s new collaboration and oracle integration with OmniDex. With this new partnership, DIA will start delivering crowd-sourced data feeds to power OmniDex running on the Telos EVM. As oracles are a crucial part of lending protocols, DIA will play a critical role in the infrastructure of OmniDex.

AJ Dinger — Head of Business Development, Telos Foundation:

“We couldn’t be more excited to have our first lending platform OmniLend live and integrated with DIA. DIA’s unique oracle infrastructure, coupled with the team’s hands on approach to ensuring a smooth integration were critical to OmniLend delivering a robust, accurate and scalable lending solution to the Telos EVM ecosystem. My hat goes off to both teams for making this a reality for the Telos community.”

To enable the smooth and clear-cut operation of AMM’s lending features on OmniDex, DIA has supplied it with an accurate, reliable and transparent price feed oracle for digital assets WETH/USD, USDT/USD, USDC/USD, WBTC/USD, WAVAX/USD, WTLOS/USD, WBNB/USD, WMATIC/USD and WFTM/USD.

DIA simultaneously sources trade data directly from centralized and decentralized exchanges.

DIA will ensure high quality and resilient data feeds for OmniDex, thanks to DIA’s 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 OmniDex to have full control and clarity over the data they depend on.

Michael Weber, DIA Co-Founder and CEO comments:

“We are thrilled to start working with OmniDEX, the native AMM DEX on the Telos blockchain. OmniDEX will be able to trustlessly power its operations with DIA’s customizable and transparent oracles. Additionally, we have more collaboration lined up in near future so stay tuned for that!”

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

See CDR #008: OmniDex

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.

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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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