Fantom Receives New Trusted Oracle Provider: DIA

December 16th, 2021 at 8:02 pm UTC · 2 min read

Fantom Receives New Trusted Oracle Provider: DIA
Photo: Fantom

The open-source oracle platform for decentralised finance DIA announced today its entry into the Fantom ecosystem by making its data provision available on Fantom’s Opera Mainnet. This new integration will enable teams operating on Fantom to develop use cases such as stablecoins, stakings rewards, lending and borrowing, DEXs and many more.

Fantom is a fast, scalable, and secure layer-1 blockchain platform, built with Fantom’s aBFT consensus protocol. The Fantom Network is compatible with Ethereum’s Virtual Machine (EVM), allowing developers to deploy and run Ethereum dApps on Fantom. On Fantom, transactions are confirmed in around a 1 second and cost on average one cent.

With a total value locked of almost $5 billion, the Fantom ecosystem is continuously growing with many DeFi protocols already operating in the chain. Some of the best-heard dApps include AnySwap, SushiSwap, Yearn Finance, Abracadabra, Beefy Finance and many more.

Blockchain applications, regardless of the native network, require accurate and real-time data from the outside world to execute their underlying transactions. Through this latest integration with Fantom’s Opera Mainnet, DIA is enabling smart contracts on the network to have access to +6.000 cryptocurrency and +20.000 traditional financial asset feeds.

To source such a broad range of data feeds, DIA’s community of developers scrape data directly from on-chain sources or CEX APIs at individual trade level. Any data feed that is publicly accessible can be sourced, regardless of whether it is listed on exchanges and what its trading volume is.

As many Fantom projects operate their assets solely on the Fantom blockchain and are traded only on Fantom DEXs, DIA is specifically sourcing data feeds of Fantom Network native assets. To do so, DIA scrapes information directly from Fantom native markets such as SpookySwap.

Fantom is the latest blockchain network that DIA has aggregated to its cross-chain oracle offering. In fact, in the last weeks, DIA has been announcing new integrations with many relevant DeFi ecosystems including Solana, Celo, Arbitrum, Avalanche, Moonriver, Near, among others.