[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"3235d889-448d-4927-a6b8-67159537f32d","updated_at":"2022-05-30T14:02:00+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"Web3 applications have recently appealed to the passionate interest of crypto investors as they center trustable and scalable data feeds to build reliable products and avoid manipulation. Impressively, the DIA platform emerges with the so-called “the Wikipedia of financial data” in the decentralized oracle network. Let’s take a deep dive into DIA!","sapo":"Web3 applications have recently appealed to the passionate interest of crypto investors as they center trustable and scalable data feeds to build reliable products and avoid manipulation. Impressively, the DIA platform emerges with the so-called “the Wikipedia of financial data” in the decentralized oracle network. Let’s take a deep dive into DIA!","title":"Is DIA a good investment?","content":"

Introduction to DIA

DIA, which stands for Decentralised Information Asset, is a multi-chain oracle platform for open financial data and Web3 in a financial smart contract ecosystem.

DIA platform empowers the validation, sourcing, and sharing of transparent and verified data for traditional and digital financial applications. DIA’s data feeds involve asset prices, metaverse data, and lending rates.

Aiming to become “the Wikipedia of financial data,” DIA's purpose is to connect data analysts, providers, and users while bridging off-chain data and on-chain smart contracts to build a variety of financial dApps.

DIA’s oracles are available to developers on relevant layer 1 and layer 2 networks such as Ethereum, Binance Smart Chain, Fantom, Solana, Polkadot, and many more.

Through DAO operations, DIA wishes to be the largest open-source data platform of Web3. DIA benefits from the power of communities and decentralization to scale its growth.

About DIA token

Built on the Ethereum network, DIA (Symbol: DIA) is the native governance token of the DIA ecosystem, enabling the community to govern the DIA platform and validate DIA's crowdsourced data feeds. The max supply of DIA is set at 200 million tokens.

Following are use cases of DIA tokens:

Voting on governance issues
Funding data collection
Validating data through staking
Incentivizing platform development
Accessing live data streams and specific APIs

How DIA works

DIA platform operates based on a chain of the following parts:

Data request: Stakeholders seek a specific dataset not published on the DIA platform.
Data submission: Data providers connect to APIs or on-chain data to serve the requested data.
Validation: Data analysts verify the submitted code through the Staking mechanism.
Data storage: Validated data is stored in an open-source, immutable database, published on the DIA platform.
Usage: Data can be accessed through oracles (On-chain) or API (Off-chain).

Features of DIA

Aiming to be the Wikipedia of financial data, DIA open-source platform involves the following objects:

Open contributors as developers connect data sources with the DIA open-source platform.
Governors/validators as token holders vote to improve, validate platform features and govern the DIA Association.
Off-chain computation is applied for the ingested raw data to prevent temporary off-data and outliers.

DIA’s data is directly derived from a set of on-chain and off-chain sources, which allows DIA feeds to be fully customized, resulting in tailor-made, high resilience feeds, setting a new paradigm for oracles.

DIA oracles can be integrated into smart contracts to power a broad range of DeFi, TradFi, and Metaverse use cases, such as lending, lending, staking, or stablecoins.

DIA does not directly create, manage or validate the data but through its stakeholders, stimulates them to manage by using DIA token incentives for stakeholders.

DIA allows users to select the way of handling data by multiple delivery methods powered by a network of strong industry partners.

DIA is divided into three main building blocks including:

Data collection mechanisms get data from diverse sources.
Database layer is flexible to handle different data streams.
Collected and aggregated data are distributed using REST API and the oracle system.

Who is behind DIA?

The DIA association was cofounded by a group of people, of which Paul Claudius, Michael Weber, and Samuel Brack are the head leaders.

Specifically, Michael Weber is DIA's Founder and Association President while Claudius is the face of the DIA project and its lead advocate, sometimes mentioned as a CBO, and Samuel Brack serves as CTO.

The DIA project was launched in 2018 and hosted its first round of token sales of ICO in 2020, raising $15 million and increasing demand for the DIA token.

On September 2, 2020, DIA was listed on Binance, the leading crypto exchange.

In November 2020, DIA announced its integration into the Polkadot/Substrate ecosystem, marking its first move of cross-chain integration.

Recently on January 24, 2022, the token got listed on Coinbase Exchange and Coinbase Pro, allowing users to have easy access to the DIA token in a safe and legally compliant manner.

The expansion of DIA

Since its launch, DIA has grown exponentially in scale, winning the trust of various projects centering on different use cases, from DEXs, NFT marketplaces, yield protocols, stablecoins to launchpads.

These are some of the popular DIA partnerships and integrations:

DeFi Applications that have integrated with DIA’s transparent oraclised data feeds, including Dafi, Standard Protocol, Raze Network, Ovre, Knit Finance, and many more;
Utility/Infrastructure that ranges from cloud-based node infrastructure to decentralized storage, including Coingecko, CoinMarketCap, Coinbase Custody, Morningstar Indexes, Argo, etc.;
Launchpads that have been supported by DIA via open-source price feeds, including Gains Associates, Poolz Finance, Genesis Shards, Open DeFi, Ferrum Network, etc.
Cross-chain integrations: Dia began its cross-chain integrations with Polkadot, and continued its integrations with Polygon, Avalanche, Near, Celo, Kusama, and many more.

2022 is expected to come with more partnerships and integrations ahead for DIA, proving its tremendous potential in the upcoming future.

Is DIA a good investment?

Oracles are considered the foundation of the entire Defi ecosystem, and with such a huge demand, there will be considerable room for such promising Oracle projects as Chainlink, BAND Protocol, and DIA.

As DIA is committed to continually improving its product offering every year, and powering a wider range of use cases in the crypto world, the DIA ecosystem is going to expand further, enhancing the value of the DIA token.

The 103% increment of DIA on May 19th is a vivid illustration of its potential. DIA suddenly doubled at $1.04, catching traders worldwide by utter surprise and proving itself a worthy investment.

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","tags":[],"image":{"fileName":"dia-token-deep-dive.png"}}]

Is DIA a good investment?

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