DIA is an open-source platform that provides Web3 with Oracle functionality. Today, DIA made available its data infrastructure on the mainnet network of Evmos to announce its participation in this new ecosystem. The new integration is crucial for protocols that use Evmos to build DeFi use cases like stablecoins lending, borrowing, and other.
Evmos has its Mainnet online since April 26th. It is an app-agnostic blockchain built on the Cosmos network. Evmos interoperates with Ethereum environments because of its Ethereum Virtual Machine compatibility. This allows developers to access all Ethereum tools and features while still benefiting from the network’s Proof of Stake (PoS) consensus mechanism. Evmos can exchange value and interact with other Cosmos Ecosystem members because it is built on top the CosmosSDK.
The necessity and importance of using blockchain oracles for DeFi applications is well-known.
As bridges between on-chain and off-chain systems, Oracles are third-party software responsible for feeding smart contracts real-time data in order to execute the underlying transactions. This integration will allow developers to use DIA data feeds that provide access to over 6.000+ cryptocurrency assets for their dApps.
DIA, which is unlike any other Web3 provider, sources large amounts of data directly from CEXs or DEXs to offer such a wide range of data. This allows DIA the ability to build oracles from any asset available in both decentralised and centralised markets. DIA’s multi-source, granular approach also allows them to build very strong and resilient oracles with full transparency.
Evmos, the latest network of blockchains that DIA integrated with, joins a number 20+ other blockchains DIA can access, such as Polkadot and Metis, Fantom and Arbitrum.