Partnership with DAM Finance
Pioneering the first-of-its-kind price oracle for the omnichain stablecoin, d2o, bolstering its utility and enabling seamless integration across the landscape of decentralised applications.
A Glimpse into DAM Finance
DAM is a global, decentralised liquidity infrastructure powering value mobility across sovereign blockchain networks. DAM is a multi-network platform facilitating the scalable flow of liquidity to where it’s needed most. DAM’s first dApp, d2o, is a decentralized stablecoin that helps emerging networks scale native liquidity without the tradeoffs of traditional bridging solutions.
Introducing d2o
d2o is a stablecoin, backed initially by USDC on Ethereum, aiming to maintain a value of $1 per token. It’s designed to distribute liquidity and has two key features:
- Users can burn d2o to claim underlying collateral, creating an arbitrage opportunity if its price deviates from $1.
- It can easily be “teleported”, via a regular transaction, between different blockchain networks, starting between Ethereum and Moonbeam, via the dReservoir protocol.
Launching the d2o Price Oracle
We are delighted to announce that, in collaboration with DAM Finance, we have created the first price oracle for the stablecoin d2o. This new oracle boosts the token’s utility, enabling seamless integrations across a number of decentralised applications, including but not limited to, lending and borrowing, money markets, options, futures, and more.
This integration was made possible due to DIA’s flexible architecture, that caters to the creation of price oracles for any asset. This is achieved by implementing highly tailored methodologies, unique to each asset. This approach paves the way for the development of robust, resilient oracle feeds that resonate with the requisites of each specific use case.
“DIA is a mission-critical partner for us in terms of driving utility for d2o in both mature and emerging blockchain ecosystems. They’ve been outstanding to work with and clearly understand the realities of a cross-chain future.”Harrison ComfortFounding contributor to DAM Finance
The Swift Adoption of the d2o Price Oracle
We’re overjoyed by the rapid acceptance and adoption of the oracle, a testament to its utility as evinced by applications such as Orbiter One. This platform has already extended support for d2o within its lending and borrowing protocol, marking an exciting milestone in the journey of the oracle.
d2o on @OrbiterOne is climbing in TVL!
We are super excited about this partnership. Read more here: https://t.co/QIR0UERlPb
d2o price oracle powered by @DIAdata_org
— DAM 🃏 (@DAM_Finance) June 13, 2023
