Fuse Network Partners with DIA (Decentralized Information Asset)

Published on: 21.02.2022

DIA is a cross-chain, community-governed end-to-end, open-source data and oracle platform for Web3. It provides oracle services on a number of leading blockchains including Ethereum, Fantom, Solana or BSC among others, and can be used for sourcing data on asset prices, lending rates, NFT and metaverse data and more.

DIA has a unique approach to reporting data (especially price data) that differs from that of most other oracle projects in the crypto space. Instead of relying on the potential for other nodes (disputers) to dispute the price data provided by a given oracle node to a smart contract, DIA obtains data from multiple centralized and decentralized exchanges for each price feed using their APIs and smart contracts directly. A separate data collector instance is allocated to scraping data from each exchange.

How Does The Fuse Network and DIA Work?

The DIA decentralized oracle infrastructure has now been deployed to the Fuse Network blockchain. The arrival of oracles on Fuse marks an important milestone in the continued growth and maturation of the platform as oracles are crucial for further development of decentralized finance (DeFi) on Fuse.

The first product to benefit from DIA’s oracle technology will be the decentralized lending network on Voltage Finance developed in collaboration with Ola Finance. Ola will use DIA to obtain reliable price feeds for assets in Voltage’s lending markets. This will enable the addition of more assets to the Voltage lending network

ABOUT Fuse Network
Fuse Network a fast, decentralized and low cost alternative to existing digital payments.

ABOUT DIA
DIA (Decentralised Information Asset) is a cross-chain, end-to-end, open-source data and oracle platform for Web3.

RESOURCES
Medium

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