Shadows Network Partners With DIA to Integrate Reliable Market Data Feeds
We’re pleased to share details of Shadows Network’s latest strategic partnership. DIA (Decentralized Information Asset) will be working with Shadows to implement oracles into the cross-chain synthetics protocol we’re developing.
Oracles are at the heart of decentralized finance, giving market actors access to data sourced from external systems including other blockchains and traditional finance. DIA’s tamper-proof oracles are highly regarded within the blockchain space, and the caliber of their developer team is impeccable. Electing to pursue a technical partnership with DIA was thus one of the easiest decisions we’ve had to make.
You Can’t Have Synths Without Oracles
Oracles are a critical part of our developer toolkit when it comes to creating pools and markets for synthetic assets, whose price must be derived from external data points. Without oracles to provide a decentralized source of truth, onchain synths simply wouldn’t work.
As Shadows Network completes its transition to Polkadot, we will be obliged to pull in price feeds from blockchains such as Bitcoin and Ethereum, as well as from global currency markets. This is where DIA’s oracle solutions will prove invaluable.
While our partnership with DIA is primarily technical in nature, Shadows Network will also benefit from DIA’s marketing nous and extensive industry connections. This will pave the way for additional collaborations and partnerships further down the line as we build out our synthetic asset network.
We look forward to working with DIA and utilizing their best-in-class oracle technology to obtain reliable price feeds that support synthetic swaps 24/7 with prices updated in real time.
About DIA
Defi applications are reliant on trustable and scalable data feeds to build reliable products and avoid exploitation and manipulation. DIA leverages crypto-economic incentives and the wisdom of the community to source, validate and deliver trusted financial data.
For any questions, you can reach out to DIA via:
Website | Telegram | Twitter| Github
For any questions, you can reach out to Shadows Network via: