Integration Delivers DeFi Developers Access to Data Feeds on Fantom’s Layer-1 Blockchain
Fantom, a highly scalable blockchain platform for DeFi, crypto dApps, and enterprise applications, announced the addition of open-source oracle provider, DIA, to the Fantom ecosystem. DIA’s integration with Fantom Opera Mainnet will make end-to-end customisable oracles available to Fantom-powered dApps. In line with the DIA deployment on Fantom, DeFi developers on Opera mainnet can leverage DIA’s broad set of data feeds to develop extensive use cases including stablecoins, stakings rewards, lending and borrowing, DEXs and more.
Since January 2021, the total value locked (TVL) within DeFi protocols has grown by more than 1,000%, and show no signs of slowing. In lockstep with the rise of DeFi, oracles have quietly become the foundational element for emerging DeFi applications, as dApps depend on reliable, verified external data feeds.
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With the majority of Fantom projects operating solely on the Fantom blockchain, DIA will specifically source data feeds of Fantom Network native assets by scraping information directly from Fantom native markets, such as SpookySwap. This will enable Fantom-native projects to receive data from a Fantom-native oracle, ensuring a frictionless, transparent and customizable data infrastructure with maximum coverage of asset price data.
“We are excited to have DIA’s open-source oracles deployed in Fantom’s mainnet,” commented Fantom CEO, Michael Kong. “DIA’s decentralised approach to data sourcing will help dApp developers build accurate and resilient products on Fantom.”
The DIA integration with Fantom will allow developers within the Fantom network to build unique price feed oracles, customizing the specific methodologies used and the data sources to deliver maximum adaptability and transparency. Additionally, as Fantom is Ethereum Virtual Machine (EVM) compatible, developers will be able to easily port Ethereum-native Apps to Fantom’s high-speed network and plug DIA oracles to fuel its smart contracts.
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“Fantom is an exciting ecosystem with a fast and efficient ledger and a growing number of dApps operating,” added Michael Weber, Founder and Association President at DIA. “We are very excited to contribute to its adoption by helping new dApps have access to transparent and reliable data. Developers on Fantom can now start using DIA oracles to build new use cases for any digital asset.”
Most recently, DIA onboarded its first dApps in the Fantom ecosystem, including Fantom-native NFT marketplace, Ovre. Following the integration with Fantom, DIA plans to announce a series of additional partnerships in the coming weeks.
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