Community AMA, April 2024

DIA is hosting a monthly Telegram AMA session with the core team. This monthly event aims to improve direct communication between DIA and its community by collecting community concerns and suggestions and having the DIA core team answer them.

Below is a recap of the April 2024 Community AMA on April 2nd, 2024. We had Carl Bruns, CMO, and Anze Noc, Community & DAO Lead at DIA in this Community AMA. Let’s take a look at what was discussed:

Can you provide an update on DIA’s infrastructure evolution and the current status of new tokenomics?

Yes, I am excited to share our latest updates! We are making steady progress on DIA’s infrastructure upgrades. Some time ago, we have shared a high level perspective on how the product that we are building will look in its rough form and the capabilities it will have. As we are sure most of the community knows and appreciates, technical research and innovation makes timeline predictions very difficult. Notwithstanding, I’d like to share more about what we are aiming for in terms of a rollout and the phases we are planning for.

The first bigger release will provide a significant upgrade to the tokenomics. Without sharing too many details on the exact mechanics ahead of the release, we can already share that consumers of DIA’s data feeds (mostly dApps) will be able to protect themselves against potential system failures, while the community of DIA holders will be able to stake their DIA and earn yield. This first, simplified version of our tokenomics model will lay the foundation to integrate delegation, premium data and oracle features and a sensible fee structure for the fully decentralized product infrastructure that we are currently developing.

The next phase will entail the stepwise roll-out of the upgraded system capabilities, starting with open and decentralized data scraping (which has already been successfully tested), data-hosting, -computation and -on-chain delivery. We aim to roll out the first version of staking as well as the first components of the decentralised architecture well before the end of this calendar year. We are working tirelessly on these upgrades and that they are our number one priority, both for our product users as well as you, our community and not least to meet our own goals within the team.

More news about the first updates will be shared before the end of this quarter!

What is the difference between DIA and other oracle solutions?

DIA sets itself apart from other oracle solutions through our unique approach to data sourcing and customization. Unlike others that may rely on pre-aggregated data from third-party providers, DIA sources price data directly from decentralized and centralized exchanges. This direct sourcing method enables us to offer the most comprehensive asset price library among oracles, ensuring 100% transparency in the data sources used for each price feed. Additionally, our approach allows customers to tailor price feeds according to their specific needs, including source selection, update frequency, and pricing methodologies. 

This flexibility and transparency, combined with our rapid response to market trends, make DIA a uniquely positioned oracle provider in the rapidly evolving cross-chain & multi-chain DeFi landscape.

Considering the evolving landscape of decentralized finance and the critical role of accurate data in its ecosystems, how does DIA plan to innovate in data verification and sourcing to maintain integrity and trust, particularly in less transparent markets?

We’ve always been the leaders when it comes to data transparency, as all of our sources are publicly verifiable. We’ve always paid special attention to openly sharing our data and although DEXes data verification is easier, we’ve been exploring different ways how to enable CEX data verification with the potential use of TLS certificates. 

As the tech is still early, it’s really complicated to make it run on a scale, however, we’re putting effort and collaborating with other industry organizations to tackle this challenge together. Overall anyone can see how our data is being collected, processed, and produced in our GitHub or in the app.

Our direct data sourcing strategy enables us to quickly establish price feeds for a wide range of assets, including those in emerging markets.

To ensure the reliability of these feeds:

• We leverage multiple markets as sources, including CEXs & DEXs
• We set liquidity and trading volume thresholds for creating a price feed, reducing the risk of manipulation.
• New sources undergo a community validation process (CARs – Community Approval Requests), ensuring transparency and trust in the data used.
• Our systems continuously monitor liquidity depth and volume, allowing us to detect and mitigate potential manipulation risks promptly.

DIA prioritizes the transparency aspect of its data and oracle services and enables any dApp developer and user to know precisely how the data feeding the application is built, what data sources are been used, and what methodologies are being applied at all times.

How is DIA positioned to get involved with the Bitcoin L2s & DeFi protocols emerging on Bitcoin?

The burgeoning Bitcoin ecosystem, particularly its L2s and DeFi protocols, presents an exciting frontier, and DIA is poised to play a pivotal role. Our enthusiasm for this space is driven by the belief that we are exceptionally well-suited to meet its oracle needs, thanks to our direct data-sourcing approach. This capability positions us to support a wide array of assets across these chains. 

Our recent integration with BEVM, one of the leading Bitcoin L2 solutions, underscores our commitment and capability in this arena. We are eager to announce further integrations in the Bitcoin space in the coming weeks, reinforcing our vision to become the premier oracle provider for the expanding Bitcoin ecosystem.

We also recently launched a new series of X spaces, “Bitcoin DIAlogues”, hosting teams from most prominent Bitcoin L2s and dApps. Join us this Thursday as we host Stacks, the leading Bitcoin L2 along with Tycho Onnasch, the co-founder of Zest Protocol and StackingDAO, and one of the key builders in the Bitcoin ecosystem.

Set a reminder here: https://twitter.com/i/spaces/1OdKrjowleeKX 

What’s the plan to fully leverage the ongoing bull run and what are concrete measures apart from Zealy / collabs to create more attention for the community?

In anticipation of the infrastructure and tokenomics evolution, we’re gearing up for a comprehensive marketing campaign to showcase our technological advancements and new tokenomics. This campaign, coupled with our foundational work in SEO, social media engagement, and valuable content creation, sets the stage for heightened visibility and interest in DIA. 

Our efforts in SEO have significantly boosted our online presence, leading to increased website traffic and brand awareness. As we approach the launch of our new technologies, we’ll intensify our marketing efforts, including collaborations with key industry influencers, to ensure DIA captures the full potential of the current bull run.

You mentioned that there is another major resource in the works, similar to the Ultimate RaaS Map. Can you share any details about that?

We’re thrilled to announce the imminent launch of a new resource today, further solidifying our commitment to becoming the go-to oracle provider for a specific niche within Web3. This resource aims to provide invaluable insights and understanding, catering to the needs of the Web3 community. 

Stay tuned for the reveal, and try to guess the focus of this exciting new addition to our suite of resources! This will be the greatest resource we’ve pushed out so far! Announcement incoming within the next hour!

As we conclude this AMA, we’d like to announce an adjustment to our AMA schedule, transitioning from monthly to bi-monthly sessions. This change stems from our commitment to dedicating our full attention and resources to the ongoing innovations within our project. 

Given the current trend of receiving fewer new questions, this decision aligns perfectly with our focus areas. Moving to a bi-monthly format allows us to concentrate more deeply on significant developments, ensuring that each AMA session is packed with meaningful updates and insights for our community. We’re grateful for your understanding and continued support as we prioritize progress and strive to bring more value to each interaction in our project’s journey.

Have questions for the DIA core team? Submit the questions here and get featured in the next AMA in June 2024: https://forms.gle/cUDRwuEDm6UUHPWe6