We are very excited to announce that DIA’s open-source oracles are feeding Beamswap’s DeFi hub running on the Moonbeam Network
29.03.2022
Beamswap is a decentralized exchange (DEX) with an automated market maker (AMM), providing liquidity and peer-to-peer transactions. Beamswap supports an array of services and features, allows you to swap crypto assets, both fungible and non-fungible, earn passive income from staking and yield farming, and even launch custom crypto projects on Moonbeam.
The goal of Beamswap is to serve as a hub, a suite, a toolbox that supports all the users’ needs for decentralized management of digital assets. Understanding the ever-growing market demand as well as infrastructural requirements needed to support such an inrush of new users, Beamswap aims to position itself at the center of the DEX and DeFi spaces within the Moonbeam ecosystem.
We are excited to announce that Beamswap will be leveraging DIA’s price feed oracles to launch lending & borrowing operations on its DeFi hub , running on the Moonbeam Network. This integration will ensure a transparent, auditable and resilient data infrastructure to accurately update the price of the collateral assets of the platform. The product launch was enabled in collaboration with Ola Finance, the platform for custom decentralized lending networks.
To offer decentralized lending and borrowing operations to users, Beamswap requires access to accurate and trustworthy price feeds on-chain for its collateral assets USDC, BUSD and BNB. To serve these needs rightly, DIA has built customized price reference feeds by collecting granular data from multiple sources and applying cleansing and price determination methodologies. These tailor-made data processing operations will ensure not only accurate price points, but also ensure not being exposed to flash loan attacks from bad market actors, common in Lending & Borrowing markets.
Michael Weber , DIA Association President comments:
“We are delighted to work one more time with the Ola team to launch a new decentralised lending protocol, this time for Beamswap operating on the Moonbeam Network. While Ola will provide the custom lending operations, DIA’s open-source oracles will ensure the correct calculation of price points for the collateral assets.”
Tim Erjavec , Beamswap CEO adds:
“We are ecstatic to be partnering up with both Ola Finance and The DIA Association expanding and exploring new horizons will both benefit our communities and strengthen our relationship. It’s great to have integrations like these.”