Plutus DAO Integrates DIA Oracles on Arbitrum
We are delighted to announce that Plutus DAO has integrated a custom DIA oracle on the Arbitrum network to power the launch of a smart LP.
What is Plutus DAO?
Plutus is an Arbitrum-native governance aggregator aiming to maximize users’ liquidity and rewards while consolidating governance behind the PLS token. By using plsAssets, contrary to their respective veToken counterparts, users can stay liquid while earning rewards and participating in governance.
Plutus has collaborated with Stryke (ex Dopex), Radiant, GMX, Sperax, and Jones for a variety of governance-related products. Plutus offers Vaults to maximize yield and build Arbitrum-native DeFi solutions, with one currently live in collaboration with GMX’s GLP liquidity solution.
Plutus DAO Integrates DIA Oracles on Arbitrum
We are delighted to announce a strategic partnership between DIA and Plutus DAO to support the launch of Plutus DAO’s new smart liquidity pool (LP). This collaboration integrates DIA’s robust and decentralized oracle infrastructure, providing precise, real-time price feeds for the Stryke Token (SYK) and enhancing the efficiency and security of the liquidity pool.
While exploring options for oracles, we were introduced to DIA through partner recommendations. The support, expertise, speed, and precision demonstrated by the DIA team left a lasting and impeccable impression on us.GertrudPlutusDAO CEO
Plutus DAO is taking a significant step forward by integrating a Jones Smart LP to their products, a next-generation LP setup to ensure the optimal solution for plsSYK LPs and traders. Central to this development is DIA’s decentralized price oracle, which supplies accurate price data for the Stryke Token on the Arbitrum network. By aggregating price data from over 100 exchanges across multiple L1 and L2 networks, DIA ensures that the LP Strategy used by PlutusDAO operates with up-to-date and reliable asset prices.
Benefits of the Integration
This partnership enables PlutusDAO to leverage DIA’s oracle to power its LP Strategy, ensuring seamless and transparent trading between the SYK token and its liquid wrapper plsSYK. With DIA’s oracle technology, the liquidity pool will automatically adjust based on real-time market data, enhancing liquidity provision, reducing slippage, and minimizing the risks associated with price volatility. This empowers DeFi users to participate in a more secure and efficient ecosystem.
