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Standard Protocol Partners Showcase — DIA
Oracles are the most critical components to Standard Protocol’s success. They must provide accurate real time data in a punctual manner. To ensure this, we have been building an oracle system for ourselves, while looking for a great partner to double strengthen Standard Protocol.
Today, we are very glad to announce our new partnership with DIA, an open-source, financial information platform that utilises crypto economic incentives to source and validate data.
DIA has an outstanding layer architecture and governance system to assure the validity of data provision. Through our partnership, Standard Protocol will be utilizing DIA’s capabilities to supply accurate, transparent and timely price information and reinforce the data used in many parts of Standard Protocol including vaults, AMMs and staking.
DIA will be participating in Standard Protocol’s oracle ecosystem by providing healthy data from various sources and by giving hands-on support to Standard Protocol’s oracle system.
Michael Weber, Association President at DIA comments:
“We are very excited to continue exploring the Polkadot space by integrating our price data feeds into Standard Protocol’s ecosystem. DIA oracles will play a critical role for Standard enabling the generation of new synthetic assets.”
Hyungsuk Kang, Head of Technologies:
“DIA has been a great oracle team and helped us to achieve the decentralized oracle ecosystem by providing robust data from multiple sources and hands-on support to contribute the oracle system in Standard protocol. DIA oracles not only enable us to maintain stability of our stablecoin but also secure synthetic assets and other off-chain related functionalities”
What is DIA
DIA (Decentralised Information Asset) is an open-source, financial information platform that utilises crypto economic incentives to source and validate data. Market actors can supply, share and use financial and digital asset data.
About Standard Protocol
Standard Protocol is the first Collateralized Rebasable Stablecoin (CRS) protocol for synthetic assets that will operate within the Polkadot ecosystem. It is also the first and only project from Korea to be awarded a Polkadot Web3 foundation grant and prides itself on its global community growth approach.