
Product: Integration of DIA Price Oracles on Soroban
DIA is a cross-chain oracle provider, while Soroban is a developer-friendly smart contracts platform built on Rust and designed to scale. While at its core, Soroban is a smart contracts platform which enables the building and deployment of diverse and innovative decentralized applications (dApps), Layer 1 blockchains are inherently limited in their ability to connect dApps to external data.
Due to this limitation, dApps on Soroban and other Layer 1 blockchains are dependent on oracles to deliver such data to smart contracts. This external data is often essential to the functionality of smart contracts, and without it many different types of dApps would not be able to function.
Some examples of dApps which are reliant on oracles include lending protocols, money markets, synthetic assets issuers, derivatives, options and futures markets, collateralized stablecoins, prediction markets, randomness consuming applications, and many more.
The Solution: DIA Price Oracles
DIA is a cross-chain oracle provider that enhances data transparency, customization, and accessibility. With a unique architecture that aggregates raw trade data directly from first-party sources, namely centralized and decentralized exchanges, DIA offers 100% source transparency and bespoke customization.
This enables the provision of price oracles for over 2,500 cryptocurrency tokens, 18,000+ NFT collections, Liquid Staked Tokens, and more, with the ability to customize each feed for specific protocols and use cases.
DIA’s oracles have played a key role in driving innovation and growth for dApps on 38 layer 1 and layer 2 blockchain networks, and have proven to be an integral component to the success of many thriving blockchain ecosystems.
What Problems DIA Solves and the Benefits:
Data Transparency: Different from other oracles, DIA’s architecture is unique in that data is sourced on a first-party level, directly from 80+ centralized and decentralized exchanges, instead of relying on premium data providers. This sourcing methodology enables end-to-end, 100% transparency about the origin of data on the individual exchange level, solving the issue of data opaqueness and providing Soroban smart contract developers and users with complete transparency about their data sources.
Learn more about DIA’s data sourcing here.
Data Customization: DIA's granular data scraping enables the creation of tailor-made data feeds to meet the specific needs of each dApp on Soroban. This solves the problem of one-size-fits-all data feeds and allows developers to customize the parameters of their oracle including data sources, data cleansing filters, pricing and computational methodologies, update mechanisms and more.
This customizability has proven essential in fostering innovation, as DIA oracles are able to uniquely cater to different dApp needs, thus supporting a wider array of dApps and use cases.
Support for More Assets than Traditional Oracles: DIA's ability to construct price feeds for crypto assets traded on any of DIA’s supported DEXs and CEX’s, so long as they meet DIAs liquidity, volume, and sources criteria, addresses the problem of limited data availability for less commonly traded assets.
This benefits Soroban users by expanding the range of supported assets on the network.
Cross-Chain Asset Support: Many ecosystem-native assets face limitations in cross-chain functionality due to inadequate oracle support, hindering their utility beyond their original ecosystem.
DIA overcomes this challenge by placing emphasis on sourcing asset price data from decentralized exchanges, expanding support for a broader range of ecosystem-native assets not covered by centralized exchanges.
For instance, when a dApp community introduces a token and lists it on AMM-style decentralized exchanges, DIA can support these tokens once they meet specified liquidity and volume criteria, and further their cross-chain capabilities by providing price oracles for these assets across the 38 other blockchains which DIA is integrated with.
This will ultimately provide significant value and create cross-chain functionality for assets which trade on Soroban’s decentralized exchanges.
How DIA Works:
DIA boasts a modular architecture, engineered for comprehensive data coverage across a multitude of sources, asset price feeds, and supported blockchains. This architecture is composed of three integral components: Collection, Computation, and Publication. DIA currently supports 38 blockchain networks.
Collection: At the heart of DIA is the data collection system, a mechanism that fetches granular market data from a broad range of on-chain and off-chain exchanges, including Centralized Exchanges, Decentralized Exchanges, and Non-Fungible Token (NFT) marketplaces, amongst others. Through the availability of billions of trades, DIA enables the creation of resilient, high-confidence price feeds.
Data sourcing at DIA is accomplished through exchange scrapers, developed by both DIA and an ever-growing community of contributors. These scrapers are integral in the creation of price feeds for assets across all networks – there is no reliance on third-party premium data providers.
Computation: DIA employs transparent computational methodologies to process raw trade data into reliable feeds. From outlier cleansing filters to sophisticated pricing techniques, DIA can support diverse requirements.
From developing straightforward Time-Weighted Volume Average Price (TWVAP) asset price feeds to crafting complex, use-case-specific price feeds, DIA capabilities are comprehensive.
Publication: Upon the creation of a price feed, it is published via API endpoint. This data feed then gets pushed on-chain, wrapped in oracle smart contracts. DIA’s decentralized network of nodes takes on the responsibility of pushing oracle data on-chain, currently servicing 38 major L1/L2 blockchains.
DIA Integration with Soroban:
DIA’s oracle smart contracts are deployed natively on each chain in the DIA ecosystem, in this case Soroban, thus mitigating any reliance on external bridges or messaging protocols. This significantly improves the resilience of DIA oracles against counterparty bridging risk, as well as removes any bridge-related latency.
In summary, the integration of DIA oracles with Soroban will enhance data accessibility, transparency, customizability, and implement support for a wide range of assets in Soroban's smart contracts. The outcome will empower developers on Soroban to construct more reliable and flexible decentralized applications, all of which depend on accurate and verifiable oracle pricing. This integration will be beneficial to the entire Soroban community, including developers and users, by providing them with a robust foundation for building, executing, and benefiting from blockchain applications on the Soroban network.
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