DIA Joins Stacks Ecosystem Promotes DeFi with Custom Oracle Feeds

• DIA’s decentralized price oracles provide Stacks with transparent and dependable data.
• Developers now have free access to price feeds, which improves Stacks’ DeFi ecosystem.

A decentralized Oracle network, DIA, has partnered with the Stacks (STX) ecosystem to offer customizable market data feeds, specifically real-time price oracles for STX and SIP-10 tokens. The partnership intends to help decentralized finance (DeFi) apps atop Bitcoin’s Layer 2 by providing precise and reliable price data.

The agreement allows DIA’s Oracle suite to be connected with Stacks, enabling DeFi developers to create new solutions. Mitchell Cuevas, Executive Director of the Stacks Foundation, highlighted the significance of this collaboration in addressing fundamental difficulties in Bitcoin DeFi. “The DIA integration addresses key remaining needs related to Bitcoin DeFi on the Stacks layer,” Cuevas added, emphasizing the organization’s commitment to providing builders with the tools and infrastructure they need.

Powering DeFi on Stacks with DIA Data Feeds

DIA’s market data, which supports over 200 decentralized apps (dApps) and 50 blockchains, will play an important part in Stacks’ DeFi ecosystem. It includes essential features for lending platforms, decentralized exchanges (DEXs), and other decentralized applications. Tycho Onnasch, co-founder of Zest Protocol, stressed the importance of Oracle price feeds, which would provide trustworthy data for lending apps and other DeFi use cases on Stacks.

By incorporating real-time pricing data into smart contracts, developers can broaden use cases such as collateralized debt positions (CDPs) and lending markets. Furthermore, developers will have unrestricted access to DIA’s oracles, encouraging innovation in the Stacks ecosystem. DIA maintains accuracy by combining data from over 100 exchanges, consequently enabling secure and efficient DeFi development.

DIA’s Lumina architecture, which incorporates zero-knowledge proofs and cross-chain messaging, is a significant advancement in Oracle technology. This breakthrough improves data verification and security across many ecosystems, while also providing new utility to the $DIA token through decentralized sourcing and staking incentives. Lumina’s relationship with Lasernet promises to provide Web3 architects with more flexibility and autonomy, establishing a new standard in the Oracle network landscape.

This integration presents developers with effective resources for creating more sophisticated and dependable financial apps, promoting maintained growth and innovation on the Stacks network.

The post DIA Joins Stacks Ecosystem Promotes DeFi with Custom Oracle Feeds appeared first on Live Bitcoin News.