DIA Insights
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DIA Insights

Partnership with Starfish Finance

We are delighted to announce that Starfish Finance has integrated DIA’s customisable asset and NFT floor price oracles to launch its DeFi + NFTfi platform on Astar and Polygon.

Introducing Starfish Finance

Incubated by the Astar Builders program, Starfish Finance building the next-generation DeFi x NFT-Fi headquarters on Astar Network within the Polkadot ecosystem. The Starfish Finance protocol is a one-stop DeFi journey with multi-token stable and weighted swap, based on Balancer V2, cross-chain aggregation for crypto assets and NFTs. It aims to unleash liquidity potentials in NFTs on multiple prominent ecosystems in the near future subsequently.

We are delighted to announce the deployment of two fully customisable and transparent oracles for Starfish Finance. Firstly, DIA deployed an xFloor oracle, providing floor price feeds for a variety of NFT collections. Secondly, DIA deployed a dedicated xPrice oracle, supplying Starfish with open-source cryptocurrency asset price feeds. Both oracles have been deployed on Astar network’s testnet Shibuya and Polygon network’s testnet Mumbai.

Mars Captain, Starfish Finance member adds:

“DIA will play a crucial role in the sustainable development of Starfish Finance, notably in its NFT-Fi aspect. Our team is pleased to have DIA as a strategic partner. As the NFT market expands and grows, more and more NFT holders will look for DeFi + NFT-Fi services with reliable price feed. Starfish will therefore capture these values, and provide a state-of-the-art experience to the users.”

Covering DeFi and NFTfi Oracle Needs

On one hand, the Starfish Finance team was building an NFTfi protocol to allow users to unleash the liquidity potential stored in their NFTs, by using the non-fungible tokens as collateral to borrow stablecoins. In order to build the platform, it required safe access to on-chain floor prices for these NFT collections.

To fulfil this requirement, DIA deployed a dedicated xFloor oracle for Starfish, supplying real-time price feeds containing the value of collections on Ethereum (CryptoPunks, BAYC, Doodles, etc) and Astar (Astar Degens). To determine the floor prices, DIA pulls historical sales data directly from the NFT marketplace’s smart contracts on its respective network and applies fully transparent data processing methodologies.

On the other hand, DIA also built a dedicated xPrice oracle, supplying Starfish with real-time price feeds for cryptocurrency assets ETH, ASTR, USDC, DOT, GLMR. The price feeds are being used to provide up-to-date price data to enable Starfish’s NFT-Fi lending and borrowing feature.

To come up with the final price points, DIA simultaneously sources trade data directly from a broad array of centralized and decentralized exchanges. This granular, aggregated trade data is then sanitised based on a fully transparent procedure to avoid outliers and is computed with custom price determination methodologies to best meet Starfish’s use case’s requirements.

Micahel Weber, DIA Association President comments:

“We are very excited to leverage our oracle infrastructure to launch Starfish’s DeFi and NFTfi protocol. DIA’s comprehensive library enabled the creation of transparent, customizable and reliable price references for crypto assets but also the NFT collections that Starfish required. We are delighted to help further develop the Astar ecosystem by supporting cross-vertical platforms like Starfish.”

About DIA

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 customized with regards to the mix of sources and methodologies, resulting in tailor-made, high resilience feeds and thereby setting a new paradigm for oracles.

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DIA Core Team

DIA Core Team

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DIA is a multi-chain, end-to-end, open-source data and oracle platform for Web3. https://go.diadata.org/