Partnership with Preon Finance (Sphere)
We are thrilled to announce that Preon has integrated a Custom DIA Oracle on Polygon, to enable the lending and borrowing of $STAR within the Preon protocol.
Introducing Preon Finance
Preon Finance stands out as a state-of-the-art decentralized lending protocol. Built on innovative platforms like Arbitrum, Preon enables users to leverage their portfolios for borrowing. At the core of Preon’s offerings is the $STAR stablecoin, a USD-pegged currency that brings stability and reliability to the crypto market. Preon’s unique approach allows for 0% interest lending and borrowing, making it a standout player in the decentralized finance landscape.
“On behalf of Sphere Finance, we express our sincere gratitude for the collaborative opportunity with DIA Oracle and Preon Finance. This partnership marks a significant milestone for us, as it paves the way for the imminent utility of our stable coin, $STAR.
We are truly excited about the prospects that this collaboration holds and believe that together, we will not only enhance the functionality of $STAR but also contribute to the broader success of the decentralized finance ecosystem. This partnership exemplifies our commitment to innovation and excellence in the blockchain industry.
Thank you for entrusting us with this opportunity, and we look forward to building a robust and enduring collaboration. The future holds great promise, and we are eager to explore and create even more value together.”SimsalaCEO of the Sphere Finance Ecosystem
The Integration: A New Era for $STAR
DIA has deployed a price oracle on the Polygon network, providing real-time pricing information for Preon’s native $STAR stablecoin. Preon has successfully integrated this into its lending and borrowing platform.
This integration is crucial for incorporating $STAR within the Preon protocol, playing a critical role in its ecosystem. By utilizing $STAR, users can leverage their crypto as collateral to quickly access funds without selling or compromising their portfolio.
Leveraging DIA’s robust oracle solutions, Preon ensures an accurate and reliable price feed for the $STAR token, essential for the smooth operation of its lending platform.
Oracle Integration: Precision and Reliability
The asset in this integration is the STAR token, based on the Arbitrum blockchain. The oracle utilizes the Moving Average Price with Interquartile Range (MAIR) methodology for price calculation using trade data from exchanges with a 120 second trades aggregation window size.
The oracle is set to update every 24 hours, with additional updates triggered by price deviations of STAR of 0.5% or more. Find the integration details on the DIA Forum, where the Preon team submitted a Custom Delivery Request.
Learn more about the STAR price feed in the DIA App:
