DIA Integration with Neon Network’s Testnet

Published on: 18.11.2022
DIA Integration with Neon Network’s Testnet

DIA, a multi-chain, end-to-end, open-source data and oracle platform for Web3, announced integration with Neon Network’s Testnet. 

DIA oracles integration with Neon Network’s testnet, will bring 20.000+ tokens and NFT price feeds to the EVM solution on Solana.

Introducing Neon

Neon is a Solana software environment that acts as a gateway for Ethereum-based applications to access Solana’s scalability and liquidity without changing their codebase. Because Neon supports the full Ethereum Virtual Machine — EVM — it allows Ethereum native developers to use familiar tools and resources while benefiting from Solana’s ability to process transactions quickly and at lower fees.

Solana’s speed, security, and low gas fees, combined with EVM support, make it an appealing combination for the Neon network, which currently supports a throughput of 2.000+ TPS and gas at 0.000015 SOL / tx.

Neon worked hard to ensure that the EVM is as simple to use as possible. Users can connect to Neon using wallets that support custom RPC APIs, giving them an Ethereum-like user experience. Existing Ethereum dApps can launch on Neon without requiring any changes to their codebase, making it the only EVM that enables the deployment of Ethereum dApps on Solana’s ecosystem.

Introducing the DIA Data Library to Neon

DIA has integrated its open-source Oracle infrastructure with the Neon testnet network. This new update allows Neon developers to begin developing and testing a wide range of DeFi and NFTfi applications that rely on high-quality, transparent, and crowd-sourced price data feeds. The mainnet will be integrated as soon as it goes live, which is expected on December 12, 2022.

Because of Neon Network’s EVM compatibility, Ethereum native applications can be easily migrated to the Solana ecosystem with no code changes, where DIA can feed them with accurate and transparent market data. This will enable DIA to power dApps on Neon EVM with a variety of DeFi use cases such as stablecoins, staking, and mining.

Marina Guryeva, CEO and Founder of Neon Labs, the developer behind Neon EVM, says:

“Neon EVM unites the best of two worlds: Ethereum and Solana, and puts to rest the Ethereum killer narrative once and for all. Ethereum-based projects can, for the first time, tap into the previously inaccessible audience and liquidity of Solana without needing to rewrite their code in Rust. As a result, users will now get to enjoy enhanced user experiences on Solana without losing out on Ethereum’s battle-tested dApps.”

How Does DIA Function?

With the deployment of DIA’s data and Oracle infrastructure, dApps on Neon Network’s EVM-compatible ecosystem will have access to price feeds of 3k+ digital assets and 18k+ NFT collections, as well as a variety of lending rates, FX rates, and other data feeds. This will allow Neon Network to support applications other than DeFi and NFTfi.

Because DIA does not rely on outside data suppliers, its proprietary open-source Oracle infrastructure distinguishes it from other Web3 data solutions. In order to create price oracles, DIA crowdsources trade data at a very granular level from both off-chain and on-chain sources.

DIA’s architecture enables the creation of custom token and NFT price feeds for each dApp and use case, with pricing methodologies, data sources, and other factors such as oracle update mechanism, frequency, and more completely customizable. DIA’s strategy allows it to meet any unique data and asset requirements a project may have while also providing users with complete transparency into how the data feeds are created.

Michael Weber, DIA Co-Founder mentions:

“We are excited to see an EVM-based Layer-2 scaling solution build on Solana. Their effort to make Neon compatible with Ethereum certainly is an exciting vision, and we are thrilled to see DIA help their network flourish. With the security and speed of Solana, together with the low cost of Neon, we could see a great inflow of new apps and users, and we would be more than happy to kickstart their development on the Neon network.”

Neon Network DIA Demo Oracle

Test the DIA demo oracle on the Neon Network by interacting with the following demo oracle smart contact:

Note: DIA Demo Oracle contracts are not intended to be integrated into dApps. DIA deploys dedicated contracts for dApps, please request a dedicated oracle. Learn more about DIA demo oracles on the DIA Documentation.

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.

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About Neon

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SOURCE

https://medium.com/dia-insights/hello-neon-network-dias-oracles-live-on-neon-testnet-8a34a475af97

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