Partnership with OmniDex
We are excited to partner with OmniDex to provide accurate price points to the AMM Lending and Exchange platform to support a wide variety of assets.
Introducing OmniDex
OmniDex is a automated market-making (AMM) decentralized exchange full service decentralized trading platform built on the Telos EVM blockchain. It allows users to swap, farm, lend and earn rewards on the first native DEX DeFi protocol built on the Telos EVM. By choosing this super-fast, scalable network, OmniDex offers investors low-cost rapid transactions and enables them to avoid many of the potential pitfalls of investing on other networks. The ultimate goal for OmniDex is to provide a full service, decentralized trading platform that is easy to understand, simple to use and accessible to all.
OmniDex Integrates DIA Price Oracles
We are excited to announce DIA’s new collaboration and oracle integration with OmniDex. With this new partnership, DIA will start delivering crowd-sourced data feeds to power OmniDex running on the Telos EVM. As oracles are a crucial part of lending protocols, DIA will play a critical role in the infrastructure of OmniDex.
“We couldn’t be more excited to have our first lending platform OmniLend live and integrated with DIA. DIA’s unique oracle infrastructure, coupled with the team’s hands on approach to ensuring a smooth integration were critical to OmniLend delivering a robust, accurate and scalable lending solution to the Telos EVM ecosystem. My hat goes off to both teams for making this a reality for the Telos community.”AJ DingerHead of Business Development, Telos Foundation
How Does the Oracle Work?
To enable the smooth and clear-cut operation of AMM’s lending features on OmniDex, DIA has supplied it with an accurate, reliable and transparent price feed oracle for digital assets WETH/USD, USDT/USD, USDC/USD, WBTC/USD, WAVAX/USD, WTLOS/USD, WBNB/USD, WMATIC/USD and WFTM/USD.
DIA will ensure high quality and resilient data feeds for OmniDex, thanks to DIA’s crowd-sourcing approach, unique in the web3 data and oracle landscape. While most oracles depend on third-party centralized data providers, DIA simultaneously sources trade data directly from centralized and decentralized exchanges. To come up with the final price points, the aggregated data is computed and sanitized based on fully transparent methodologies and sources, enabling OmniDex to have full control and clarity over the data they depend on.
A Transparent, Custom Delivery
The data requirements were transferred to DIA by submitting a DIA Custom Delivery Request (CDR) via the DIA DAO Forum and is publicly available to everyone here. The OmniDex CDR provides users a level of transparency on how the price data feeding the protocol is built.
