We are very excited to announce that DIA oracles are integrated into Fuse Network and its All-in-One DeFi hub Voltage Finance.
21 Feb, 2022
Fuse is a decentralized blockchain-powered platform and technology stack founded in 2019, whose goal is to enable genuine mass adoption of crypto payments and decentralized finance (DeFi). Fuse has been working to accomplish it through combining decentralized applications built on a fast and low-cost EVM-compatible blockchain Fuse Network with a focus on highly user-friendly mobile interfaces built on top of the Fuse wallet technology.
This approach has led Fuse to launch important Fuse-native reference DeFi tools under All-in-One DeFi Platform Voltage Finance, including the automated market maker (AMM)-based decentralized exchange (DEX), Fuse Lending Network, the Fuse Rewards platform for yield farming programs and the Fuse X stablecoin suite.
DIA has integrated its open-source oracle infrastructure with the Fuse network. The oracle deployment will make it easy for smart contracts deployed within the network to natively access accurate and transparent market data. DIA’s oracles will help power Fuse with a number of use cases including stablecoins, staking rewards, yield farming, and many more and support DeFi tools to connect to the outside world data via DIA’s trusted oracles.
The oracle integration has been made possible through a grant from Fuse Network. The first dApps on Fuse Network to integrate with DIA data will be soon announced.
Many decentralized applications of the Fuse ecosystem will require data external to the blockchain to operate. These are dependent on the right calculation of price points in order to avoid being exposed to data manipulation and exploitation such as flash loan attacks, potentially resulting in investor losses. To overcome this dilemma, DIA has a unique approach to data sourcing compared to other oracle services.
Instead of relying on premium data providers, DIA crowd-sources 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.
Mark Smargon , Fuse CEO comments:
Having oracles on Fuse Network is indispensable for the long-term development of DeFi and other important use cases within the Fuse ecosystem. We are thus delighted to see DIA deploy their cutting-edge oracle infrastructure on our chain.