Partnership with Davos
Davos Taps DIA Oracles for the On-Chain Provision of FED’s rate to Determine the Borrowing Rate for Minting DUSD Stablecoin Across 6 Chains.
What is Davos and DUSD?
Davos Protocol revolutionizes collateralized debt positions (CDPs) in DeFi by integrating innovative technologies like LSTs, LRTs and a wide range of reward-bearing tokens. This approach enables the creation of DUSD, an omnichain stablecoin, allowing users to leverage their staked assets for higher returns through seamless functionality across multiple Proof-of-Stake networks.
Moreover, Davos is expanding its reach to several different EVM chains, having become a valuable member on the upcoming Mode Network and Linea Chains. With the first omnichain savings rate token and a no-fee native bridge, Davos promises to bring different revenue streams to it’s users and create the complete DeFi ecosystem in a single platform.
Davos Integrates DIA Oracles for RWA Use Case
We are delighted to announce that Davos has integrated DIA oracles across 6 chains for tracking FED’s EFFR rate on-chain. The data feed will be used to determine the borrowing rate for minting DUSD, Davo’s flagship CDP stablecoin product.
The custom oracles have been deployed on the following chains: Ethereum, BNB Chain, Arbitrum, Optimism and Polygon zkEVM. The oracles are configured with a 24-hour heartbeat update threshold for pushing the most up-to-date value on-chain.
Davos Protocol is committed to providing its users with optimal financial opportunities in DeFi by leveraging a carefully crafted monetary policy based on three essential metrics: the Federal Reserve’s interest rates, DeFi lending rates, and key inflation indicators like the PCE. By synthesizing these elements, Davos effectively bridges the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi), aiming to correct the prevalent discrepancies in DeFi borrowing rates. We are proud to collaborate with DIA Oracles, enabling us to align our strategies with macroeconomic trends and ensure our solutions respond dynamically to current market conditions.Julian HaywardCo-Founder of Davos
