DIA Oracles Get Integrated Into the Telos EVM Blockchain
The Oracle at Delphi was a priestess who made prophecies about the future. Greeks went to Delphi to ask questions of the god Apollo, who would answer through the Oracle. Crypto price oracles are just as crucial to DeFi projects. Telos is pleased to announce that we are joining the DIA price oracle to support our ambitious DeFi strategy.
DIA (Decentralized Information Asset) is a cross-chain, end-to-end, data, and oracle platform for Web3. DIA’s oracles are widely used in DeFi and available to developers on most Layer 1 and Layer 2 networks and Ethereum.
Blockchain oracles are a bridge between the real world of price formation on exchanges and a network that supports DeFi applications, providing the information needed for smart contract execution.
An oracle provides a tool to query, retrieve, verify, and provide a blockchain with off-chain data — it’s a tool, not a source of information. Prior to oracles being widely available, networks could not communicate, making the user experience poor, limiting adoption and usability. Crypto price oracles report on price changes. When a smart contract receives the input information, it triggers actions regarding lending or staking contracts.
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 asset prices, metaverse data, lending rates, etc.
DIA’s data is directly sourced from a broad array of on-chain and off-chain sources at individual trade levels. This allows DIA feeds to be fully customized regarding the mix of sources and methodologies, resulting in tailor-made, high resilience feeds, setting a new paradigm for oracles.
“Partnering with DIA allows Telos to fulfill its potential in supporting DeFi projects like Omnidex, Zappy, Bardi. We are working on a meaningful liquidity support program and offer the Ignite grant program for DeFi start-ups. So come and build your DeFi projects on Telos.”
AJ Dinger, Telos Head of Business Development
“We are thrilled to enter the Telos ecosystem by integrating our open-source and transparent data and oracle infrastructure with Telos’ new EVM layer 1 blockchain. Developers will be able to natively access DIA’s broad set of data feeds for 6k+ crypto assets and 20k+ traditional assets via highly customizable and transparent oracles. We are very excited to start collaborating with Telos native dApps to help them build the best products in an accurate and reliable manner.”
Paul Claudius, DIA’s Head of Business Development
About DIA
DIA is a cross-chain, end-to-end, open-source data and oracle platform for Web3. The DIA platform enables the crowd-sourcing, validation and sharing of transparent and verified data feeds for asset prices, metaverse data and more. DIA data is simultaneously sourced 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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About Telos
Telos Blockchain (TLOS) is a 3rd generation smart contract platform that offers compatibility with Solidity, Vyper, and Native C++ smart contracts, providing full EVM/Solidity support and a fee-less native smart contract layer upon which the EVM is built. Telos’ performance is unrivaled in the industry and was purpose-built to offer speed, scalability, cost-effectiveness, decentralization, and end-user fairness. The network can sustainably support hundreds of millions of transactions per day, produces blocks in 0.5-second intervals on a first-in-first-out basis (eliminating frontrunning on the network), offers a fee-less native, and low per transaction cost EVM (<$0.10), and a fully decentralized block producer network.
