Partnership with Raze Network
We are delighted to announce that we have partnered up with Raze Network to continue expanding DIA’s oracle integration into the Polkadot ecosystem and feed the Raze Network with transparent data feeds.
Raze Network is a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem. It is built as a native privacy layer that can provide end-to-end anonymity for the entire DeFi stack. The objective of Raze Network is to enable cross-chain privacy-preserving payment and DeFi systems while protecting the transparency of your assets and behaviours from surveillance. Eventually, Raze Network will anonymize all the cryptocurrency across all chains.
The underlying logic of Raze Network is to mint private tokens from base tokens at a minting value ratio of 1:1. The logic is based on three steps: minting, redeeming and transferring. The mint function will convert any token into an anonymized version of itself. The redeem function will convert the anonymized token back into its native form. The transfer function is the one that enables the anonymous transfer of the token. It will conceal and protect both the anonymity of both sender and receiver and the amount being sent.
As a result of this partnership, Raze Network will integrate DIA’s data capabilities to supply, share and use transparent verified price oracles. This integration will enable Raze Network to anonymise assets such as Crypto, DeFi Tokens, Fiat and Commodities to execute privacy-preserving transactions of the likes of trading, lending, staking or insurance, among others. These transactions will be compatible with DeFi applications like Uniswap, Acala Network, Ampl and many more.
Michael Weber, Association President at DIA adds:
“We are firm believers of the importance of building the DeFi space in a cross-chain direction, and we are very excited to see how Raze Network will enable cross-chain privacy-preserving payments to the DeFi ecosystem”
Justin Kellerson, CEO of Raze Network:
“We believe this partnership is a perfect example of reciprocity. Both teams can greatly benefit from each other and push us to the frontier of decentralized finance. We are excited about the coming conversations on technology, governance, and future planning.”
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.