Partnership with Ola Finance

Update 23.02.2022: We are excited to start delivering crowd-sourced, transparent oracles to power Ola Finance’s lending protocol running on the Fuse Network. The teams are now exploring the integration of Ola into new chains.

Ola Finance is a lending platform that lets anyone create a Compound-like instance of almost any token, referred to as Lending Networks. With Ola, a Lending Network can be created with a few clicks of a button by tuning a few parameters. These parameters include the tokens that can be lent and borrowed, the collateral factor for each token, the fee rate, and a few more. Once a Lending Network is created, anyone can instantly interact with it via the Ola app, that acts as a gateway to all Lending Networks.

As an on-chain lending protocol, Ola requires reliable and updated price data of the assets being offered for lending and borrowing in the platform. To support a wide variety of assets and increase the protocol’s resilience to price manipulation, Ola will integrate DIA’s trusted oracles. DIA offers a very unique approach DIA to data calculation. First, it collects trade-level data from various centralised exchanges as well as on-chain data. Then, this data gets computed and sanitised based on fully transparent methodologies to avoid temporary off-data and outliers. Finally, the calculated data points are delivered off-chain — via API rest, and on-chain––via oracle in multiple networks (Ethereum, BSC, Polygon, Polkadot, Moonbeam, etc).

The integration of DIA price points into Ola’s platform will give lending network creators easy access to the DIA oracle. Additionally, as part of the partnership, Ola lending network creators will get an open channel to talk with the DIA team about specific requirements and adjustments — including adding new tokens to the DIA oracle.

Michael Weber, DIA Association president comments:

“It is very exciting for us to utilise for the first time our Oracles in a lending platform. At the same time, we are very pleased to be the first oracle provider to feed Ola’s lending platform with transparent and reliable data.”

Oren De-Lange, core team member at Ola adds:

“We are excited to announce that DIA open-source oracles are going to be integrated into Ola. Oracles are a major part of Ola, and lending network creators are going to greatly benefit from the opportunity to use DIA High quality and well-known price feeds.”