Partnership with Standard Protocol
We are very excited to announce a new partnership with Standard Protocol. DIA’s accurate and transparent price data points will be integrated into Standard’s Polkadot based protocol for synthetic assets.
Standard Protocol is the first Collateralised Rebasable Stablecoin protocol for synthetic assets that will operate within the Polkadot ecosystem. It is also the first and only project from Korea to be awarded a Polkadot Web3 Foundation grant and prides itself on its global community growth approach.
By means of this new partnership, Standard Protocol will benefit from DIA’s capabilities to supply accurate, transparent and timely price information. As precise and punctual oracles play a critical role in Standard Protocol's success, Standard will strengthen their own oracle system by additionally integrating DIA trusted oracles into Standard’s Market, Vault and Staking modules.
Standard Protocol’s Market module, a collection of automated market makers, will utilise DIA oracle will enable generate clear-cut exchange rates to purchase digital assets or provide liquidity to earn fees. In the Vault module, Standard’s collateralisation module, the DIA oracle will enable the generation of other synthetic assets with exact price information.
Michael Weber, Association President at DIA comments:
“We are very excited to continue exploring the Polkadot space by integrating our price data feeds into Standard Protocol’s ecosystem. DIA oracles will play a critical role for Standard enabling the generation of new synthetic assets.”
Hyungsuk Kang, Head of Technologies of Standard Protocol adds:
“DIA has been a great oracle team and helped us to achieve the decentralized oracle ecosystem by providing robust data from multiple sources and hands-on support to contribute the oracle system in Standard protocol. DIA oracles not only enable us to maintain stability of our stablecoin but also secure synthetic assets and other off-chain related functionalities”