One of the hot topic in the Blockchain ecosystem today is oracles. Oracles are a piece of technology connecting off-chain APIs and blockchains to feed them with real-world data. Or it could be the other way around. Build APIs to provide on-chain information to off-chain users. Chainlink in the leader project on that front but some talented competitors are emerging from everywhere. Today, I will talk about one of them: DIA.
1. What is the DIA project?
DIA is connecting the outside world with the blockchains we know:
Use cases are everywhere but DIA focuses on what it could bring to DeFi projects and crypto exchanges:
Interest rates in DeFi protocols can be requested via a realtime API and provide information to a off-chain user. Alternatively, a user can request a DIA API to know the volatility of the crypto market based on orderbooks synchronisation. Also, it’s possible to request a DIA API to know farming data from various protocols based on on-chain activity.
2. Architecture and partners
The architecture is simple and easy to grasp:
As a software engineer, I appreciate that simplicity and the fact that I can play with the APIs myself here.
The APIs documentation is also clear and they win points here. To me it is a sign that this is a team of builders exposing their work fast and iteratively.
The collaborations and bridges are endless, with fetch AI in the list, one of my favorite tokens:
3. The DIA token as an investment
DIA token price dropped (just like all the altcoins) but look at the volumes:
Yes, the volumes are surging in the last couple of days. This could potentially push the price higher.
The rise of volumes can be explained by the surge of active addresses:
I had hard time finding information about the vesting schedule that would have helped to understand this.
The market cap is small with a modest 64 million USD:
Most tokens are not circulating making the investment risky: when they will be released, the protocol will become inflationary.
A very nice project with usable oracles that you can test yourself on their website, making the project very credible. The impressive partnerships, the price and the volumes are definitely a green light to me. However, I couldn’t find a clear roadmap on the website, nor see any team page. Also, the tockenomics are not very explicit. I’m considering investing a very small part of my portfolio because of the positive points above but I would need more research or transparency to invest more. What about you?
Thanks for reading.
Disclaimer: this is not financial advice