Partnership with Rikkei Finance

Rikkei Finance — RiFi in short, is a Web3 platform, encompassing a DeFi lending protocol and an NFT Marketplace; with a specific focus on NFT rentals and NFT-based lending and borrowing. RiFi’s expansive vision for its platform means digital assets across multiple blockchains can all be utilized; to be leveraged against or to be deposited in return for a yield, and all the while adhering to these key tenets: trustless, transparent and secure.

We are excited to announce DIA’s new collaboration and oracle integration with Rikkei Finance. With this new partnership, DIA will start delivering crowd-sourced data feeds to power the multi-chain DeFi protocol on the Astar Network. As oracles are a crucial part of lending protocols, DIA will play a critical role in the infrastructure of Rikkei Finance.

To offer decentralized lending & borrowing services to users, Rikkei Finance requires access to accurate and trustworthy price feeds on-chain for its collateral assets pairs STR/ USD, ETH/ USD, USDC/ USD, and BTC/ USD. To serve these needs rightly, DIA has built customized oracle with price reference feeds by collecting granular data from multiple sources and applying cleansing and price determination methodologies. These tailor-made data processing operations will ensure not only accurate price points but also ensure not being exposed to flash loan attacks from bad market actors, common in Lending & Borrowing markets.

These requirements were transferred to DIA by submitting a DIA Custom Delivery Request (CDR) via the DIA DAO Forum and is publicly available to everyone. The Rikkei Finance CDR provides users with a level of transparency on how the price data feeding the protocol is built.

→ See CDR #012: Rikkei Finance