Stacks

DeFi

Bitcoin

A trustless oracle network <a href="https://www.diadata.org/" target="_blank" rel="noreferrer noopener nofollow">DIA</a> has committed to integrating its powerful oracle suite with the Stacks ecosystem. DIA specializes in sourcing and providing customizable market data feeds for any asset. 
Through this partnership, a new data feed service for STX and SIP10 tokens is introduced, giving developers the necessary data tools to build DeFi (decentralized finance) apps at the Stacks layer. With the help of DIA’s oracle solution, dApps and smart contracts can easily include precise and up-to-date price data, opening up a range of applications that rely on off-chain data, like lending and borrowing markets, CDP stablecoins, perp DEXs, and many more. 
The integration has a number of significant benefits: 
<ul class="wp-block-list"> 
 <li>Free Access: DIA’s price oracles are openly accessible to developers on Stacks, promoting innovation across the ecosystem.</li> 
 <li>Transparency: DIA’s proprietary system&nbsp;powers price feeds, which gather transparent data from more than 90 exchanges.</li> 
 <li>Reliability: For Stacks apps, DIA’s proven&nbsp;oracles, which support&nbsp;over 50 chains and 200 dApps, provide solid and dependable data.</li> 
</ul> 
The decentralized method used by DIA’s oracles to collect data from many sources ensures accuracy and openness. Any DeFi application developed on Stacks may benefit from the comprehensive dataset provided by the price feeds, which are gathered from <a href="https://www.diadata.org/app/source/defi/" target="_blank" rel="noreferrer noopener nofollow">over 100 different exchanges</a>. 
To further improve the coverage of assets that are native to Stacks, DIA has included the Bitflow exchange into its data sources. Through this integration, DIA can now provide price oracles for any asset traded on Bitflow, adding even more usefulness to the Stacks ecosystem. 
Tycho Onnasch, Zest Protocol stated: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Oracle price feeds are incredibly important for lending apps like Zest Protocol and the wider DeFi ecosystem on Stacks. As a team, we’re very excited to see the range of options expand so we can easily get reliable price data on the Stacks layer.” 
</blockquote> 
Dillon Hanson, Head of Business Development at DIA stated: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “As the strategic oracle partner for Stacks, DIA is excited to bring our decentralized price oracles to the Bitcoin layer 2 ecosystem. This collaboration unlocks a powerful toolset for developers building on Stacks, allowing them to create innovative, off-chain data-dependent DeFi applications with the security and finality of Bitcoin. We’re proud to contribute to the growth of this ecosystem by offering robust, transparent data feeds for Stacks-native assets that empower builders to push the boundaries of decentralized finance on Stacks.” 
</blockquote> 
Mitchell Cuevas, Executive Director at the Stacks Foundation stated: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “At the Stacks Foundation, one of our primary functions is to support builders in bringing in the resources and infrastructure they need to be successful. While working closely with the DeFi Working Group, the research quickly made it clear DIA was the top choice of builders in an oracle. The DIA integration addresses key remaining needs related to Bitcoin DeFi on the Stacks layer and is another example of builder-led prioritization driving crucial relationships with high-quality organizations. 
</blockquote> 
Builders now have the essential infrastructure to produce more advanced and dependable DeFi products&nbsp;thanks to this integration. The Stacks community should anticipate improved capabilities for financial applications by using DIA’s expertise&nbsp;in data sourcing and delivery, which will spur development and innovation for the leading&nbsp;Bitcoin layer 2.

DIA Integrates with Stacks Ecosystem, Enhancing DeFi Development with Customizable Oracle Feeds

TheNewsCrypto

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