Community AMA, March 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 March 2024 Community AMA on March 5th, 2024. We had Zygis Marazas, Product Lead, and Anze Noc, Community & DAO Lead at DIA in this Community AMA. Let’s take a look at what was discussed:

Can you provide a status update regarding the infrastructure evolution and tokenomics v2?

We can’t wait to share all the details. Until we are closer to launch we will provide a glimpse of where we stand and where we are headed:

1. We’ve made strides in creating a distributed and open system. Internally we’ve managed to achieve execution of price computation in a completely transparent environment.
2. The data generated within this system will be fully open and verifiable by anyone who’s using DIA data.
3. As soon as we see that the system is ready to be rolled out, we’ll move to introduce tokenomic incentives and safeguards which will foster the protocol’s further growth to a permissionless state.
4. Given the complexity of the project, we expect it to be a gradual rollout process.

We are aware of and share the community’s anticipation of developments and we will make sure to relay these updates to the community as soon as we can.

Apart from the infrastructure upgrade and tokenomics, is DIA dev team working on any other products or services that you can mention?

Indeed, alongside our major focuses on infrastructure and tokenomics, the DIA dev team is channelling efforts into several ongoing projects:

1. New Blockchain Integrations: We’re in the process of integrating with several promising new blockchains, expanding our oracle services’ reach.
2. New dApp integrations: the pipeline for oracle deployments for new partners is very full, our team is working hard to accommodate these integrations and expand the scope of dApps utilizing DIA’s oracles.
3. Oracle Builder: Progressing towards making the Oracle Builder ready for mainnet, enhancing its capabilities for broader use.
4. Analytics Dashboard: We are very excited about the new oracle analytics dashboard, designed to offer our customers comprehensive insights into oracle metrics. This dashboard will feature:

• Last updates and performance statistics.
• Average gas expenditure tracking.
• Assets price and fundamentals analytics.
• The dashboard aims to significantly enhance the user experience for dApps and L1/L2s utilizing DIA’s oracles, providing a centralized platform for monitoring and alerting.

How does the team perceive the recent performance of the $DIA token and are there any more specific insights you can share about the token performance?

While we approach the $DIA token’s performance analysis with data-driven insights, it’s crucial to note that this information is not financial advice nor a future reference for the price of the $DIA token. I’ll share some of our observations from the financial team:

1. Stability across exchanges: The consistency in price and volume suggests a mature market, indicative of efficient trading and minimal manipulation.
2. Liquidity indicators: Maintaining consistent liquidity levels across various price points indicates a stable market presence, crucial for seamless trading experiences.
3. Volume analysis: Active market participation, as evidenced by stable or increasing 24-hour volumes, reflects a healthy level of trader interest.
4. Spread trends: The stability in spread points to consistent transaction costs, hinting at a well-balanced liquidity scenario.
5. Order book depth: A robust order book depth across multiple levels suggests a market capable of absorbing significant orders without drastic price impacts.
6. Buy/sell ratio: We observe a buy/sell ratio trending above 1, which generally signals stronger buying pressure, potentially a bullish indicator for the token.

Find charts showcasing $DIA token performance metrics for various exchanges and trading pairs here.

 

Congrats on launching the Ultimate RaaS Map! May I ask, what is the main purpose of producing it and what kind of traction did you notice so far?

Thank you, we’ve been working hard and long to make this the most comprehensive resource on RaaS out there. Special thanks also to Hamzat who was the lead content producer for this resource. 

The Ultimate RaaS Map was conceived with multiple objectives:

1. Educational Resource: To demystify the RaaS niche for the Web3 community, providing a comprehensive overview of this crucial sector.
2. Industry Engagement: To foster interactions and potential integrations with RaaS providers, positioning DIA as a preferred oracle solution for their scaling needs.
3. Content Leadership: We aim to be at the forefront of producing valuable resources for Web3 builders, addressing a gap in content targeting this audience.
4. Community Engagement: The map and similar resources serve as tools for generating engaging content and events, enhancing our community outreach.

The response has been overwhelmingly positive, especially from RaaS providers featured in the map, and we’ve seen significant global engagement with the resource.

Are there other resources like the RaaS map that you are working on?

We’re thrilled to hint at another upcoming resource, designed to be even more engaging and retail-focused. This new project aims to provide a detailed overview of a trending ecosystem within Web3, offering insights with long-term relevance. 

We’re in the final stages of content production and launch planning, with an anticipated release in March. This initiative underscores our commitment to delivering insightful and comprehensive resources for the Web3 community.

I was thrilled about the recent integration with BEVM. Is DIA exploring other Bitcoin layer 2 integrations and do you see this category important this year?

The integration with BEVM marks a significant milestone, and we’re excited about the potential it unlocks. 

We’re actively exploring further integrations with Bitcoin L2s, aiming to solidify our position as a leading oracle provider in this space. Our approach to data sourcing and infrastructure development aligns perfectly with the needs of the Bitcoin L2 ecosystem, and we’re optimistic about announcing more developments in this area soon.

I’ve noticed quite some buzz around Cross Finance lately after their deployment of testnet. Do you believe Cross Finance will be big in the future and will DIA oracles be powering their DeFi markets?

While we steer clear of speculative forecasts, our collaboration with Cross Finance is a source of excitement. DIA oracles will be a foundational element for developers on Cross Fi Chain, indicating a strategic positioning within their ecosystem. Our early integration and subsequent marketing collaborations with CrossFi underscore our belief in their potential and our commitment to supporting their growth.

Can you share your team’s experience during ETH Denver?

ETHDenver was an enriching experience, filled with meaningful interactions, learning opportunities, and successful engagements. It was great to observe a very bullish and positive spirit in the wider web3 community with a shared, promising outlook in the coming months.

Infra Gardens was a great success. Our event attracted hundreds of guests, cementing its status as one of the hottest side events during ETH conferences. We’ve featured 3 alpha-packed panels, hosted many industry key opinion leaders, and met with an abundance of supporters and fellow Web3 builders. We are looking forward to share some photo/video highlights from the event in the coming days and weeks.

Throughout the entire ETH Denver conference, we engaged in deep discussions with partners, potential collaborators, and Web3 influencers, broadening our network. Our BD Manager Dillon Hanson also spoke at a “Build on Bitcoin” hackathon and presented DIA oracles at the Gelato’s booth in the main conference area.

Our participation in panels and hosting of dinners facilitated in-depth conversations with various L1/L2 teams, enhancing our collaborative efforts and paving the way for the future growth of DIA.

 

From your observations of the trends, what do you see as the main narratives at the moment and the most likely narratives for this year?

Identifying lasting trends in Web3 is challenging, yet our current observations highlight several promising areas:

• RWAs and Tokenization: Ongoing experiments and innovations in tokenizing and leveraging real-world assets on the blockchain.
• DePin: The rise of decentralized physical infrastructure networks, with potential applications extending beyond Web3.
• AI: The integration of AI technologies within the Web3 space is gaining momentum, promising to revolutionize how decentralized applications operate, enhance smart contract capabilities, and introduce new levels of automation, efficiency, and safety across various blockchain ecosystems. 
• Restaking and Liquid Staking: Innovations in optimizing liquidity and capital efficiency continue to captivate the market.
• Bitcoin L2s: A growing trend towards building dApps and layers on Bitcoin, expanding its use cases.
• Blockchain Gaming: Development efforts are pushing the boundaries of what’s possible in gaming on blockchain.
• New Stablecoins and Rollups: The deployment of new stablecoins and the adoption of rollups and RaaS services
• Parallelized EVMs, for example, Neon, Sei, and Monad. The parallel processing approach addresses the longstanding challenges of scalability and transaction processing efficiency within the Ethereum network

We are noticing significant developments and innovations in all the above-mentioned areas. Our eyes are wide open and looking for different ways of providing our services to projects building within these categories. 

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