DIA and WeFi Partner to Power Decentralized Lending on Boba Network

WeFi is a decentralized leverage trading protocol that opens up investment loan options in DeFi for global users to invest in digital assets via multi-pool borrowing. Interest is computed as a function of time, fluctuating depending on market conditions.

The protocol’s smart contracts will be publicly accessible and flexible for incorporation by diverse systems, industry dApps, and ordinary users across the globe. Each money market is unique to a given isolated pool. It also contains a transparent and publicly inspectable ledger, recording all transactions and historic interest rates.

We are excited to announce a strategic partnership between DIA and WeFi, enabling the deployment of WeFi’s decentralized lending and borrowing protocol on the Boba Network. By integrating DIA’s high-frequency price oracles for ETH/USD and USDC/USD, WeFi can securely and accurately operate its money market dApp. These oracles, which update every 15 seconds, provide real-time pricing data essential for collateral management, ensuring seamless functionality for borrowers and lenders.

In decentralized lending, reliable and real-time data is crucial for maintaining market integrity. Price oracles feed live market data into smart contracts, enabling protocols like WeFi to assess collateral accurately and adjust interest rates. A delay or inaccuracy in data can result in liquidation issues or improper valuations, which could impact user funds and overall market trust.

DIA utilizes a unique data sourcing strategy within the oracle space to build highly reliable price feeds. This approach focuses on gathering granular trade data directly from over 100 centralized and decentralized exchange pairs and pools. By sourcing and processing large volumes of first-party data, DIA ensures transparent and accurate data feeds for any token, as long as it is listed on one of the exchanges integrated with DIA.