DIA is officially feeding FantOHM with accurate and transparent price data, enabling secure operations for its decentralized reserve and revenue protocol, running on the Fantom Network.
06.04.2022
FantOHM is a multi-chain decentralized Reserve and Revenue Protocol with the mission of overcoming ever-increasing inflation and the limitations of traditional finance while generating a continuous stream of income for its investors.
At the heart of FantOHM DAO lies the reserve protocol, and its respective treasuries, which are a mix of risk free assets and non-stable assets that are selected for their value and growth potential. The protocol gives incentives to the investors by offering FHM tokens at a discount exchange of assets which get stored in the treasury or go into the liquidity pools.
We are delighted to partner with FantOHM to start delivering transparent market price data on-chain to power the protocol’s operations . To do so, DIA has built a unique and custom price feed oracle for FantOHM, containing price feeds for pairs FTM/USD and USDB/USD. The oracle, running on the Fantom Network, is enabling FantOHM to update asset prices on chain in an accurate and timely manner. This oracle integration will facilitate FantOHM with a number of use cases for its DeFi application including staking, yield farming, and more.
DIA is crowd-sourcing price data at a very granular level directly from multiple sources.
To build the data feeds that make the custom FantOHM oracle, DIA is crowd-sourcing price data at a very granular level directly from off-chain and on-chain sources. To do so, DIA scrapes every trade directly from centralized exchange APIs and decentralized exchanges’ smart contacts. This approach enables DIA to cater to any specific data and asset needs a project might have and also provides users with full transparency about how the data feeds are constructed.
To power its dApp correctly, FantOHM required specific data parameters such as custom sources, price determination methodologies or update frequencies, among others. These requirements were transferred to DIA by submitting a DIA Custom Delivery Request (CDR) via the DIA DAO Forum and is publicly available to everyone here. The FantOHM CDR provides users a level of transparency on how the price data feeding the protocol is built.
Michael Weber , DIA Association President comments:
“We are thrilled to start a new collaboration with the FantOHM team! Thanks to DIA’s open-source data and oracle infrastructure capabilities we were able to create a custom made oracle price feed for FantOHM’s USDB token to enable new DeFi capabilities for the protocol. We are looking forward to seeing what’s next at FantOHM and ways to continue collaboration in the future.”
The Doc , FantOHM co-founder adds:
“The team from DIA have been a huge help in accommodating a solution for our price feed requirements. We are excited to finally have support for our native token and using DIA’s open-source and transparent oracles, the feed for USDB will ensure our products are robust and secure. I am looking forward to the opportunities this presents for us and our future product developments.”