DIA Partnership with DAM Finance

Published on: 05.07.2023
DIA Partnership with DAM Finance,

DIA Partnership with DAM Finance, Pioneering the first-of-its-kind price oracle for the omnichain stablecoin, d2o, bolstering its utility and enabling seamless integration across the landscape of decentralised applications.

Introducing d2o

d2o is a stablecoin, backed initially by USDC on Ethereum, aiming to maintain a value of $1 per token. It’s designed to distribute liquidity and has two key features: As DIA announced their Partnership with DAM Finance.

  • Users can burn d2o to claim underlying collateral, creating an arbitrage opportunity if its price deviates from $1.
  • It can easily be “teleported”, via a regular transaction, between different blockchain networks, starting between Ethereum and Moonbeam, via the dReservoir protocol.

Launching the d2o Price Oracle

In collaboration with DAM Finance, they have created the first price oracle for the stablecoin d2o. This new oracle boosts the token’s utility, enabling seamless integrations across a number of decentralised applications, including but not limited to, lending and borrowing, money markets, options, futures, and more.

This integration was made possible due to DIA’s flexible architecture, that caters to the creation of price oracles for any asset. This is achieved by implementing highly tailored methodologies, unique to each asset. This approach paves the way for the development of robust, resilient oracle feeds that resonate with the requisites of each specific use case.

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About DIA

DIA redefines oracles on 30+ L1/L2s: Fully customisable, unmet asset coverage, 100% transparent. Enabling new primitives for DeFi, NFTfi and GameFi.

DIA’s data feeds are fully customized with regards to the mix of sources and methodologies, resulting in tailor-made, high-resilience feeds and thereby setting a new paradigm for oracles.

Website | Twitter 

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About DAM Protocol

DAM is a global, decentralised liquidity infrastructure powering value mobility across sovereign blockchain networks. DAM is a multi-network platform facilitating the scalable flow of liquidity to where it’s needed most. DAM’s first dApp, d2o, is a decentralized stablecoin that helps emerging networks scale native liquidity without the tradeoffs of traditional bridging solutions.

Website | Twitter 

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SOURCE: MEDIUM
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