DApps On Evmos Can Now Build with DIA’s Transparent Oracles

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Blockchain
DApps On Evmos Can Now Build with DIA’s Transparent Oracles

Only 2 hours after Evmos went live, the open-source oracle platform DIA announced its entry into the newly launched Evmos ecosystem by making its data infrastructure available on its mainnet network. This new integration will be crucial to protocols operating on Evmos to develop DeFi use cases such as stablecoins, lending and borrowing, DEXs and more.

DApps On Evmos Can Now Build with DIA’s Transparent Oracles - 1

With its Mainnet live since April 27, Evmos is an application-agnostic chain built with the Cosmos network, interoperable with Ethereum environments thanks to its Ethereum Virtual Machine compatibility. This allows developers to access all Ethereum tools and features while still benefiting from the network’s Proof of Stake (PoS) consensus mechanism. As Evmos is built on top of the Cosmos SDK, it can also interact and exchange value with the rest of the Cosmos Ecosystem.

It is well known the importance and necessity of blockchain oracles to fuel DeFi applications. 

Oracles, as bridges between off-chain and on-chain systems, are the third-party software in charge of feeding smart contracts with real-time data to execute their underlying transactions. Through this integration, DIA is enabling developers on Evmos to have access to data feeds for 6.000+ cryptocurrency assets to build dApps. 

To provide such a large data offering, unlike other Web3 oracle providers, DIA sources data directly from CEXs and DEXs at a very granular level. This enables DIA to create oracles for any asset that is available on centralised and decentralised markets. Additionally, this multi-source and granular approach allows DIA to create very robust and resilient oracles while providing full transparency.

Evmos is the latest blockchain network that DIA has integrated with and joins a list of 20+ blockchains DIA is available on, including Fantom, Arbitrum, Solana, Polkadot, Metis and NEAR, among others.

Aisshwarya Tiwari

Aisshwarya is currently working as the Chief Editor at crypto.news and holds more than 4 years of experience in the digital assets industry. He holds an undergraduate degree in Commerce with Honours and a post-graduate diploma in Liberal Studies. Before entering the crypto industry, Aisshwarya worked as an SAP Consultant for a global IT firm. He also cleared the CFA Level 1 exam before pivoting to the crypto industry due to its novel and exciting propositions.

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