Community AMA, November 2024

DIA recently hosted a highly anticipated AMA session with the core team, aimed at fostering direct communication with our community.

This AMA, held on November 5th, 2024, featured Anze Noc, DIA’s Community Lead, Carl Bruns, Co-Founder & CMO, and Zygis Marazas, Head of Product. Let’s dive into the key highlights and what’s next for DIA as we prepare for one of our most exciting updates to date.

Is DIA migrating to a new chain? Will there be a token migration?

No, DIA is not migrating to a new chain. Lasernet is a dedicated rollup within the DIA ecosystem, not a migration from the current setup. The $DIA token remains the native asset across the ecosystem, so there’s no need for a token migration.

However, participants in the network, like Feeders (who fetch and provide data) and stakers, will bridge their $DIA to Lasernet for staking. $DIA will not be tradeable on Lasernet and it will be the only token that can be bridged to Lasernet for staking, reducing the liquid supply on Ethereum.

Why does DIA need a rollup chain? What are the benefits of having one?

Lasernet, DIA’s dedicated Layer-2 rollup, brings oracle data and infrastructure completely on-chain. This shift is key to ensuring transparency, trustless operations, and interoperability with other networks — key elements essential for a decentralized oracle network. With Lasernet, we can process high volumes of data and distribute it across blockchains efficiently.

It also enhances security through cryptoeconomic mechanisms, like staking and slashing, which are designed to support decentralized and accurate data reporting. Once we open the mainnet, developers can build new tools and methodologies permissionlessly on this open network.

Can you provide more details about Genesis staking? When is it planned to start, and how can I secure my spot?

Genesis staking is planned for late November and offers early adopters a chance to earn rewards. It will be limited in size, and accessible on a first-come, first-served basis, so there’s no guaranteed spot. If demand is exceptionally high, we may open additional pools.

The reward rates for Genesis staking are up to 30% APY, The staking contracts are also undergoing a comprehensive audit to ensure fund safety. All rewards will be claimable on Lasernet once the mainnet launches.

How does Genesis staking contribute to liquidity on Lasernet? Why will there even be a need for liquidity there?

Genesis staking encourages early supporters to lock up their $DIA on Ethereum, with rewards claimable on Lasernet at mainnet launch. Once the mainnet launches, stakers can bridge their principal to Lasernet, allowing them to participate in staking directly on Lasernet and further secure the network.

Having sufficient liquidity on Lasernet boosts network security and strengthens data reliability for users of the DIA oracle stack. More details on the bridge and possible new incentives will be announced closer to the launch, covering conditions for validators, delegates, and more.

What makes Lumina stand out as an oracle solution compared to others in the market?

Lumina is built to offer unparalleled transparency, flexibility, and scalability:

• Transparency & Interoperability: DIA data flows are fully verifiable on-chain and allow seamless interoperability with other chains
• Flexibility: Aggregators allow customization in price feeds, sources, and data processing methods.
• Modular Structure: With separate layers for consensus, execution, and data availability, Lumina can easily integrate new tech and use cases.
• Open Network: Lumina is built to become a fully permissionless network, allowing anyone to contribute data, build oracle tools, and innovate on the stack.
• Direct Data Sourcing: This allows dApps and blockchains to monitor data sources used in price feed calculations, enhancing data accuracy and asset coverage.

Oracles should be inherently trustless sources of reliable data, and Lumina is engineered to provide that transparency in its purest form.

Are there any plans for Devcon in Bangkok?

Yes, we’re very excited about Bangkok! 

We’re hosting the 5th edition of Infra Gardens and attending multiple side events. Our team is also meeting with existing and potential partners, networking, and learning about the latest Web3 trends—all while spreading the word about DIA!

Is DIA addressing the RWA market and how?

The Real-World Assets (RWA) sector is an exciting growth area for DIA, and our oracle architecture is tailored to support it. Right now, we’re integrating more data sources like equity prices and FX rates, to our existing support of over 20,000 RWA feeds. Our direct data sourcing from both on- and off-chain markets means we can provide accurate RWA price feeds for assets based on traditional market values as well as secondary DEX trading.

With Lumina, we’re working on zk-coprocessors, which would let us add zk-proofs to both on-chain and off-chain data, further enhancing security for RWA applications.

Partnerships are also essential here, and we’re collaborating with RWA-focused projects, including Fermion Protocol for fractionalized RWAs, with more on the horizon.

To support community awareness, we recently released the Ultimate RWA Map, exploring the RWA ecosystem, and we’re planning an RWA section in the DIA App to list sources and supported assets, making it easier for users to explore this space in detail.

Can you share any performance metrics of the DIA token? What was the cause for such an explosive growth in the past month?

Over the past month, the DIA token has experienced remarkable growth, driven by strong demand dynamics, strategic developments, and technical momentum.

Increased Demand and Trading Volume: DIA saw a surge in demand, with daily trading volume surpassing $100 million USD across major exchanges like Binance and Coinbase on a few specific days. This volume spike signals substantial interest from both retail and institutional investors, reflecting positive sentiment and confidence in DIA’s future.

High Buy-Side Pressure: DIA experienced consistent buy-side pressure, especially on Binance and Coinbase, with a high Buy/Sell (B/S) ratio indicating significant investor accumulation. This strong buy-side activity underscores optimism about DIA’s potential and a willingness among investors to acquire at higher prices.

Key factors driving DIA’s growth include:

• Launch of Lumina: DIA’s new oracle architecture, launched in September, has drawn interest from developers and institutions, enhancing its position in decentralized data solutions.
• Staking Initiatives and Strategic Partnerships: DIA’s staking programs and partnerships, like those with the Stacks ecosystem, are expanding its utility and driving investor engagement.
• Positive Market Sentiment and Technical Breakout: Favorable market sentiment and DIA’s recent technical breakout through key resistance levels have added to its upward momentum.

In conclusion, DIA’s exceptional growth can be attributed to a confluence of high buy-side pressure, increased demand, and strategic developments. The combination of high trading volumes, active accumulation, and influential partnerships suggests that DIA is on a bullish trajectory. Investors are clearly positioning themselves in anticipation of DIA’s continued growth, supported by innovations like Lumina and staking incentives. This robust demand and confidence in the token’s fundamentals make DIA one to watch in the crypto market. 

It’s worth noting that with the upcoming US elections, market volatility is expected to remain high, adding uncertainty to the overall market direction. While these broader forces affect all assets, the strong fundamentals mentioned above support a positive outlook for the DIA token amidst this period of increased volatility.

If you have any other topics you would like the team to answer, submit them here, and we will make sure they get covered in the next AMA session.