We are delighted to join forces with DOT Finance, the first yield aggregator on Moonriver. DIA oracles will power DOT’s yield protocol with transparent and accurate data on-chain.
Jan 27, 2022
Dot.Finance is designed to bring DeFi to a wide range of users and will help increase user exposure to the many benefits of the Polkadot ecosystem. This will help grow the adoption of not just the Polkadot framework but the many new DeFi products and services that Dot.Finance is building on top of Polkadot’s safe, secure, and resilient architecture. The DOT Finance teams is formed by ex-Bancor developers who built the DEX from scratch and left after Bancor went full DAO.
We are delighted to join forces with DOT Finance to support their DeFi aggregator with DIA’s open-source oracles . DOT Finance is the frist yield protocol operating on Moonriver, the parachain connected to the Kusama Network.
DIA is providing DOT Finance with accurate and transparent market price data to power the platform and enable a smooth and resilient operation. DIA is officially feeding DOT with various price feeds including USDC/USD, ETH/USD and DAI/USD, WBTC/USD. The oracles are computed following a time-weighted average price methdologogy, also known as TWAP. Additionally, DIA will provide DOT Finance with a price reference index based on a basket of multiple Polkadot based project.
To deliver decentralised and accurate oracles, DIA is collecting data directly from scrapers of multiple centralised and decentralised exchanges. In addition, unlike most other oracles, DIA leverages Moonriver-native data to build the oracles, by sourcing price information directly from markets operating on Moonriver such as Solarbeam .
The DOT Finance and DIA teams are now working together to deploy the DOT platform in the Moonbeam Network, the parachain connected to Polkadot’s layer 0 chain.