DIA Oracles Live on Boba

Published on: 14.07.2022

DIA Oracles live on Boba Testnet enabling dApp development on the first compute-focused multichain layer-2 scaling solution for EVM-compatible chains.

Boba Network is a multichain blockchain Layer-2 scaling solution and hybrid compute platform claiming to offer lightning-fast transactions and fees up to 60x less than Ethereum. Its Hybrid Compute brings the power of Web2 on-chain, with smarter smart contracts that allow developers and creators to leverage off-chain compute and real-world data to offer an enriched experience unlike anything else on the market today.

MULTI-EVM COMPATIBLE NETWORK

Boba Network recently became the first multichain blockchain execution layer, working with multiple EVM-compatible networks. Initially, Boba Network is operating as a scaling solution for Ethereum, Fantom, and Moonbeam networks. Boba will be delivering immediate performance improvements. Connecting Web2 and Web3 applications and services through Hybrid Compute.

DIA has integrated its open-source oracle infrastructure with the Boba Network’s testnet. This new update enables developers on Boba to begin building and testing a wide variety of DeFi and NFTfi applications. Reliant on high-quality, transparent, and crowd-sourced price data feeds.

With Boba Network’s Hybrid Compute platform, Web3 applications can be deployed and run in an efficient environment, where DIA will be able to feed them with accurate and transparent market data. This will allow DIA to power dApps on Boba L2 with a number of DeFi use cases including stablecoins, staking, yield aggregators, as well as NFTfi use cases.

“We continue to create the best possible environment for developers to build dApps that people love to use. This integration with DIA is another step in that direction, providing Web3 builders with strong tooling and a reliable product. We’re thrilled to have DIA on board, and we look forward to seeing what developers build with this new tool at their disposal.”— Alan Chiu, Boba NetworkCEO

With DIA data and oracle infrastructure deployment, dApps on Boba Network’s EVM-compatible ecosystem will have access to price feeds of 2k+ digital assets, 20k+ traditional assets, and 18k+ NFT collections and a range of lending rates, FX rates, and other data feed. This will also enable Boba Network to support a wider range of applications beyond DeFi and NFT. Also across multiple chains, catering to growing ecosystem demands.

“Boba Network is working to solve two major drawbacks that blockchain technology is currently undergoing. The first one is the lack of user experience due to increasing network congestion on L1s and hence high network fees. The second one is the lack of tech infrastructure for an undeniable multi-chain future. We are excited to kick off this integration to jointly provide a solid tech stack to build a reliable, efficient, and user-centric multi-chain Web3 tech stack.”—Michael Weber,DIA Co-Founder

Furthermore, DIA’s unique open-source oracle infrastructure differentiates itself from other Web3 data solutions. It doesn’t rely on third-party data providers. Moreover, to build the price oracles, DIA crowd-sources trade data at a very granular level directly from off-chain and on-chain sources.

DIA’s architecture enables the creation of tailor-made price feeds for every dApp and use case, fully customizable in computational methodologies, data sources, and more. This approach enables DIA to cater to any specific data and asset needs a project might have. It also provides users with full transparency about how the data feeds are constructed.

ABOUT DIA

DIA is a cross-chain, end-to-end, open-source data and oracle platform for Web3. The DIA platform enables crowd-sourcing. Likewise 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.

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