Community AMA, March 2022
Here is a recap of the fifth Community AMA, a monthly session where the DIA Team will answer DIA’s community questions and suggestions on the DIA Telegram Community Chat.
DIA is hosting a monthly Telegram AMA session with the core team. The aim of this monthly event is to improve direct communication between DIA and its community, by collecting community concerns and suggestions and having the DIA core team answer them.
Here is a recap of the fifth Community AMA:
In this fifth Community AMA, we had with us members Michael Weber and Samuel Brack. Please, welcome to this new session! Additionally, the latest addition to the team, Ted, joined the Community AMA.
Ted is the new community lead at DIA and he will be driving efforts to build an engaging and supportive crowd. Why don’t you introduce yourself and tell us a bit about you and your past experience?
For about 6 years I worked in corporate structuring consulting, which mostly involved company formations overseas, and support of our client’s businesses by intermediating their communication with local financial institutions and auditors in the respective jurisdictions. If on the Audit side most of the time everything went smoothly, then the financial institutions, for the most part banks, were not behaving the way it’s intended. I won’t be going deep into this, but the outcome was that I saw in dynamics the decline in value which financial institutions brought to its clients while the constant load of pointeless due diligence requests was constantly increasing. It all caused me lots of frustration.
And then out of a sudden I learned about DeFi in early 2021 and recognized it it a solution to lots of existing problems of TradFi market in its current state. I started researching DeFi and also applied to Binance Angels program, which eventually admitted me. Very soon through Binance Angels, Yoshi.exchange sourced me as a Community Leader in late October 2021. But since the team in Yoshi.exchange was small and the protocol has just launched, I did my part in Business Development and Content Creation as well for it. Yoshi.exchange is a DEX Aggregator with a mission to unroll fiat-on-ramp and new non custodial wallet. Also Yoshi.exchange, while also present on BSC, is native to Fantom Opera blockchain network.
Developers say that Fantom is a very convenient blockchain, hence it is rapidly developing. And I would like to add that the ecosystem on Fantom is very friendly and protocols support each other. So in order to boost the rate of integrations between the protocols on Fantom and also in order to introduce more users to multiple protocols I decided to arrange the Fantom Projects Meetup dedicated to the Lunar Festival which was on the 1st of February 2022. The Chinese New Year was not just a random holiday picked up to conduct such event. Globally it is recognized as the beginning of the new business cycle so it was a perfect holiday to discuss what the Fantom network achieved so far over past 12 months and what might be coming next, while also reflect upon DeFi and NFT on Fantom.
And since DIA integrated with Fantom Opera not so long ago, as recent as last December, DIA was also invited and Co-Founder Paul was representing DIA on this event, alongside more than 20 other protocols and 2 influencers from Fantom ecosystem. I believe that the planning of this event was one of the greatest feats in this industry for me so far, and I am happy to admit that some protocols which were just introduced to one another during this event have already started collaborating by now. I won’t be stopping on that and I will be preparing a series of great events at DIA for our community and our guests.
Amazing! It's great to learn more about you and your journey to DIA. I think the whole community is excited to know what will be the role you will play at DIA? Can you briefly explain us?
As a Community Lead at DIA, I will be focusing on several tasks. One it’s obviously running the existing community. Another is the community growth, ensuring that we have a constant and organic stream of new and really interested members. The third task is the learning of the ecosystem within the DAO which we are building. How the members of this DAO communicate and interact, and whether members of different ranks get fair and balanced treatment.
We are very excited! What brought you to DIA and what are you most excited about?
The team is really amazing. I know it’s quite common to say things like this, but here I really mean it. The team at DIA is really a star team and I am very proud of myself for being considered decent enough to be worthy of joining it.
And of course the product itself. As I expressed above, I am fascinated by the potential impact which DeFi can make on the global economy. And oracles are a necessary component, hence their role can’t be overvalued in the grand scheme of things. So once again I am very proud of myself for being chosen to play a role in the development of DIA.
We are thrilled to have you onboard, Ted! What kind of projects will you be focused on in the coming months?
Besides the planning of high quality and engaging events, I want to change a bit the ways this group on Telegram operates. It should really become a hub for a discussion, and if that means easing a bit the requirements of focusing the conversation specifically on DIA’s products, then so be it. But please don’t rush it. The rules haven’t changed yet.
I am just considering changing them soon, when the time comes. And of course at the same time I would like to support the existing unofficial group but ideally also get back some inflow of active members from them back to the official groups too.
We’ll be following their development and perhaps we’ll see a couple of new regional groups, but no promises as first I would like to determine the real demand for those. By the way, I would like to encourage our users to let us know if they believe that groups dedicated to specific languages should be started and cultivated.
And the third primary task as I mentioned already- the building of the Work DAO. I do not know how many of you are already familiar with the concept, but DIA is planning on unrolling and then continuously developing the Work DAO to allow the community to participate in DIA operations.
I really hope that you guys are very excited about it because at some point we’ll be inviting the most dedicated community members for a closed beta and they will be able to earn some points and reputation by helping us in calibration of some rulings and incentive plans of this new DAO in development.
From your point of view, what are your biggest priorities and challenges to work on?
My biggest priority for now, but probably in perpetuity as well, is the increase of incentives for the community to be engaged combined with the constant growth of the community. I will be doing it through the leveraging of the DIA’s partners’ communities during the arranged events, but also through the increase of the quality of interactions within our community.
Oracles are having a very important role in the blockchain industry and they should be demystified for the sake of continuous development of the ecosystem. So of course the education of community through the engagement, and sometimes even education in seamless manner, through the interesting sessions, is the thing which I am set out to deliver.
Also I did not mention above that in December 2021 I have given a couple of free lectures on DeFi, one for public and another for private institution — I hope that my willingness to boost the education and the level of public knowledge of this industry conveys very well that I am a true believer in it and absolutely certain that it must be supported for the public good.
Hello DIA Team, when will staking coins be available on Binance? To receive a percentage of coins for holding in the wallet.
There is currently a Flexible Binance Campaign running where DIA holders on Binance have the opportunity to generate yield with their DIA tokens. This is not a locked campaign, meaning there is not a maximum amount of DIA tokens users can subscribe to the campaign. You can access it via this link: https://www.binance.com/en/savings
What marketing plans for 2022? People must buy more DIA and capitalization will grow.
We are constantly improving, revising and expanding our marketing activities. Besides further increasing press outreach, which has produced visible results in the past year, we doubled down on relationships with key opinion leaders in the space, increased our efforts to line up AMAs on a regular basis and invite panels with ecosystem partners and users of DIA, and share multiple updates per week around our business development and product pipeline.
Our social engagement rate is well above average in the industry across the board. But that does not mean we rest. We continue to improve on all of the above, are positioning us on the agendas of larger events and much more.
Lastly, we are working on creating the rails for more community-driven marketing engagement in the coming weeks. The new community lead would be taking forward the initiatives we have already planned for the community including regular events, thus increasing our brand presence across social media. We are also working on creating the Work DAO which will be the perfect way for the community to contribute and earn at the same time.
DIA has been featured on many renowned media outlets, mentioned by multiple KOLs, integrated into ecosystem groups and pages on social media, interviewed by YouTubers and much more. Have a look at this shortlist where we recap the best press clippings of 2021:
When will the roadmap be updated?
This has been already mentioned i previous community AMA’s, but here is an overview:
In 2022 we continue to expand our positioning as the go-to and best in class solution when it comes to high growth layer 1 ad layer 2 blockchain networks. With a library of 6k+ digital assets and 50+ DeFi data sources, DIA’s oracle and data offering is not just one of the broadest of the market but also the highest quality and resilience. In the coming months, we will continue to integrate new markets/data sources that are native to these new blockchains and ecosystems.
We see that today's projects building i.e. lending markets, NFT markets and derivatives in ecosystems such as Shiden/ Astar, Moonriver/ Moonbeam, Near/ Aurora and Solana to just mention a few will be 2022/ 2023 DeFi leading projects.
On the DAO site we continue to further push the level of involvement of the community by active contribution, validation and discussion in various areas, as well as the aforementioned new DIA Work DAO… stay tuned for that!
I could go on for a while here… but you can be assured 2022 will be a great year with lots of exciting new product and partnership updates. Read more here:
What’s next for the DIA DAO?
So, as already mentioned, DIA is planning on unrolling and then continuing developing the Work DAO to allow the community to participate. The Work DAO will allow the DIA community to Organize, Create and Grow by taking ownership of the tasks and contributing to not only earn but also rise through the ranks to become a DAO leader.
I really hope that you guys are very excited about it because at some point we’ll be inviting the most dedicated community members for closed beta and they will be able to earn some points and reputation by helping us in the calibration of some roles, tasks and incentives plans of this new DAO in development. This is an opportunity for the community to show their mettle and take this to new heights.
How many data sources does DIA work with to build the feeds? Chainlink has even 15+ sources for some of the feeds.
DIA differentiates itself through an approach of transparent data sourcing. Most Web3 data providers leverage premium data providers to aggregate and deliver data on-chain, and the origin of this data remains unclear. The nature of our approach requires full end-to-end transparency on data. DIA simultaneously pulls data directly from the source, meaning CEX on one hand and on-chain markets on the other hand, aggregating prices from individual trades.
This raw data can then be customized for any purpose. Users can choose the sources and the methodologies that make up a price feed and have it delivered to any ecosystem, providing full clarity and control.
Currently, we are using 24 CEXs and 22 DEXs to create accurate data feeds (46 in total). We are constantly adding new sources of data with DIA’s crowd-source approach.
This approach provides high quality and resilient feeds, avoiding exposure to middleman attacks such as single-source DEX based twap feeds, for example, where there is a high exposure to flash-loan attacks. Additionally, this approach allows DIA to create feeds for any asset, regardless of listings and volume, as well as chain specific assets.
Additionally, DIA can provide guest oracles with data from third-party providers (Coingecko, Defillama, NYSE, etc) but also regulatory compliant indices (CF Benchmarks) to build regulatory compliant products on Web3. Learn more:
What are DIA demo oracles? What are they used for and how are they different from “normal” oracles?
As we offer full customizability on the oracles (sources, methodologies, etc), we deploy a new and specific oracle for each dApp. These oracles are completely managed by the end-user and hence they remain private and not accessible publicly.
Nonetheless, we also have a list of public oracles on multiple chains that any user can freely access. These are free to use oracle smart contracts which contain a selective number of digital assets, updated every 120 seconds and filtered by a MAIR filter — this is a DIA standard. These free oracles are made accessible for testing in live environments (mainnet and tesnets) so dApp developers can experiment with live and actual data when building a new application.
Once the dApp is built and ready to be shipped, the team would replace the DIA demo oracle for the actual oracle that they will eventually use, with the complete list of assets, as well as the custom parameters to run the dApp most effectively. To do that, DIA would deploy a new custom oracle specifically for that dApp.
Learn more about the demo oracles and see all available:
What exactly was the Raydium product update about? What are the implications for the DIA platform and DIA data?
That’s a good one. Recently we announced the deployment and addition of new decentralised exchange scrapers to the DIA Platform, including Raydium. What does this mean? This means that DIA is now also ingesting trade data coming from Raydium Decentralised Exchange in Solana to build new data feeds. This is quite an interesting product update for many different reasons:
- More sources mean more reliability and more resilient feeds!
- More sources also mean more assets for dApps! With Raydium as a source for DIA, dApps can now also use feeds for assets only traded/available on the Solana network!
I had a look at the latest interview of Michael Weber with CF Benchmarks. It seems like DIA will enable the adoption of institutional applications and use cases on Web3. This seems very interesting. What can you tell us about this?
CF Benchmarks’ index feeds are among the most widely used and tested feeds that meet a high standard of quality and institutional requirements. With institutional-grade data feeds, DIA-sourced data will cover asset prices, metaverse data, lending rates and more.
This will facilitate the entry of regulated financial service providers, enabling them to offer their products using Web3 technology and to address new target groups.
So beginning with CF Benchmarks administered ETH and SOL reference rates the plan is to port more of Benchmark Regulation-compliant reference rates into DIA’s open-source blockchain software development environment.
Read the full interview here: https://blog.cfbenchmarks.com/a-compliant-bridge-to-the-web3-future-cf-benchmarks-q-a-with-dia-2/
Is Huobi trading live yet?
Yes, it is trading for some time now at Huobi. DIA/USDT available here: https://www.huobi.com/en-us/exchange/dia_usdt/ You can also get an overview of our other CEXes and DEXes on our website.
DIA is a cross-chain, end-to-end, open-source data and oracle platform for Web3. The DIA platform enables the crowd-sourcing, validation and sharing of transparent and verified data feeds for asset prices, metaverse data and more. DIA data is simultaneously sourced at a trade level from multiple on-chain and off-chain sources and made available to developers on all relevant layer 1 and layer 2 networks.
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