Partnership with Verified USD (USDV)
USDV has partnered with DIA to launch price oracles for USDV on the Telos network. The oracle will be integrated into Telos Bridge at launch.
What is USDV?
USDV is a pioneering stablecoin offering complete transparency with on-chain supply visibility and real-time updates on off-chain reserves. It operates on the Omnichain Fungible Token (OFT) standard, ensuring seamless, native functionality across multiple blockchains, eliminating the need for wrapped versions. Additionally, USDV is fully backed by top-tier, tokenized real-world assets (RWAs) that match or exceed the underlying asset value, ensuring reliability and security for users
USDV Taps DIA for USDV Oracle on Telos
We are delighted to announce that USDV has partnered with DIA to launch price oracles for USDV on the Telos network. The oracle will be integrated into Telos Bridge at launch.
“Leveraging DIA's custom price feed perfectly complements USDV's omnichain functionality. This partnership ensures accurate price reflection for USDV across multiple blockchains like BNB Chain, Ethereum, and Arbitrum. We see this collaboration as a key driver for USDV's growth, unlocking further DeFi possibilities within the Telos ecosystem and beyond.”Matthew CommonsPresident of Verified USD Foundation
How Does the USDV Oracle Work?
Due to the omnichannel nature of USDV, DIA has built a custom price feed to evaluate the asset’s price in real-time in a robust manner, by collecting trade data across the BNB Chain, Ethereum, and Arbitrum.
Trades will be scraped from DEX pools on BSC, Ethereum, and Arbitrum with liquidity greater than $1M. This ensures that the data sources are robust against unrepresentative market price movements.
The feed will also be deployed with a 5% guardian. This is a safeguard against outliers. If the price difference between these pools and external price sources exceeds 5%, the oracle will not send the update.
