DIA partners with Zumer Protocol a non-custodial liquidity protocol with a novel credit and liquidity risk management mechanism to allow permissionless loan origination and BNPL for all kinds of NFT assets by segregating different risks to different liquidity providers.
Zumer aims to be the new standard for DeFi protocols that focus on offering liquidity to the NFT market, creating a fully decentralized financial system for the Metaverse assets. Zumer’s end goal is to let everyone be the central banker, banker, and investment banker of the Zumer ecosystem, allowing all stakeholders including DAOs, NFT projects, and Gaming guilds to determine interest rates, and perform QE/QT, offer liquidity, and underwrite credit risks.
DIA is delighted to announce that the Zumer Protocol has successfully integrated DIA’s NFT Floor Price oracle services into its testnet environment. This is an especially thrilling announcement as Sumeria Labs is the first user to test out the DIA xFloor product. The custom NFT floor price oracle will feed the Zumer protocol with accurate and timely NFT price feeds for various collections including Bored Ape Yacht Club, Crypto Punks, Mutant Ape Yacht Club, and many more. The oracle will play a critical role in the operations of the liquidity protocol for collateralized lending of NFTs.
HOW DOES THE COLLABORATION WORK
To effectively fulfill Zumer’s platform requirements, DIA built a unique and tailor-made oracle, deployed on Ethereum Rinkeby Testnet. To come up with the final floor price, the oracle fetches data from Opensea. Using a 30-day time-weighted average of floor price methodology. The oracle set to trigger updates and send price data to the Zumer protocol’s smart contract via time and deviation base mechanisms.
“We couldn’t be more excited to launch DIA’s NFT floor price oracle with our partners at Zumer Protocol. NFT Floor price oracles will enable Web3 builders like Sumeria Labs to easily integrate NFTs into DeFi platforms, unlock new NFTfi use cases, enable capital efficiency and drive mass adoption of NFTs.”— Michael Weber, DIA Association President
“We are thrilled to partner with DIA and incorporate its price oracle into Zumer’s risk model. DIA’s multi-chain NFT oracle solution will be key to driving the growth of NFT financialization. We remain confident in the outlook of the NFT market and are committed to building the infrastructure needed to scale the financial backbone of an Open Metaverse.”— SY Chan, Sumeria Labs CEO
DIA is a multi-chain, end-to-end, open-source data and oracle platform for Web3. The DIA platform enables crowd-sourcing. Validation and sharing of transparent and verified data feed for asset prices, metaverse data, and more. DIA data is simultaneously source at a trade level. From multiple on-chain and off-chain sources and made available to developers on all relevant layer 1 and layer 2 networks.
ABOUT Zumer Protocol
Zumer Protocol is a non-custodial liquidity protocol. With a novel credit and liquidity risk management mechanism to allow permissionless loan origination for NFT assets. Segregating different risks to different liquidity providers.