Chaingain Partners With DIA

Chaingain is integrating DIA oracles to fuel its platform with accurate and transparent on-chain currency rates.

They announce that Chaingain is integrating DIA’s trusted oracle price feeds. With this partnership, DIA becomes a key partner for Chaingain, providing on-chain currency rates to run its platform. DIA’s transparent feeds will enable the calculation of the collateral borrowers should deposit to cover for the borrowed amount. Additionally, DIA is also providing the currency rates that Chaingain uses in calculating potential drops in guaranteed values, situations in which the loan gets liquidated, and the lender gets repaid.

Michael Weber, DIA Founder and Association President comments:

“We are excited to kick off this integration with Chaingain. Products like this one heavily rely on the right calculation of the collateral to operate smoothly. As DeFi use cases keep growing and new platforms are being built, we are excited to see teams like Chaingain integrating transparent oracles to fuel these products.”

Stephen Davies, CEO and founder at Chaingain:

“We are eager that through the partnership with DIA, we will take Chaingain to the next level and to our goal — disrupting the DeFi paradigm. For long enough, crypto trading was linked to collateral, creating a closed loop of investors and traders. We are democratizing the DeFi paradigm by allowing people to access capital without the burden of collateral and this will take things to another level. We now live in a new paradigm of distributed services and globalization that have technology, flexibility, and diversity at core. We live in a diverse world populated by people with different needs and resources. It’s time that finances enter this paradigm and DeFi is here to re-establish the rules”.

About DIA

DIA (Decentralized 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.

About Chaingain

Chaingain is a decentralized financial platform, offering a variety of products tailored to many individuals, ranging from lending and borrowing protocol to capital renting. Chaingain’s new platform bridges the gap between everyday financial needs and the DeFi paradigm, in order to create decentralized protocols to answer to a broad range of financial needs. These include use cases such as investors accessing capital with a minimal amount of collateral, people eager to put their crypto portfolio to generate passive income via the lending pool or via peer to peer lending.

📰 INFO

https://medium.com/dia-insights/partnership-with-chaingain-7bd84c6ae240