Community AMA, December 2021
Here is a recap of the second 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 second Community AMA:
Building a DIA Data community has not seen a breakthrough at the moment, so does the team have a plan to build a community in the near future?
DIA’s community has been steadily growing over the past year and we continue to share our updates and news with the community as well as engaging with other communities to foster growth and interaction.
That said, we of course are not resting. There will be new initiatives from the marketing and communications team of DIA that will leverage the community and its skills in the coming year.
We are currently conceptualising and preparing the rollout of these initiatives and will update you and invite you to participate when the initiatives are ready to roll out.
May I know the roadmap for the year 2022 with more details?
We have been working hard to build the foundation of what DIA is today in the past months. We very early on believed in the emergence of a cross-chain ecosystem and i.e. already 12 months ago built a substrate based off-chain worker when parachains were still a thing of the distant future.
In 2022 we continue to expand our positioning as the go-to and best in class solution when it comes to high growth L1 and L2s. We will continue to integrate markets that are native to such chains and ecosystems.
By being available anywhere with the broadest set of markets as sources we continue to provide a solution that is unique in the space and clearly differentiates us from the competition.
We see that today 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 we integrated with will be 2022/ 2023 DeFi leading projects.
But our ambitious product mission goes much further including providing the ability to design even easier very specific feeds by selecting methodologies and markets for different use cases.
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.
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…
Have you considered adding new data types or services to cater for the increasingly rich DeFi and metaverse?
DIA is an open-source, cross-chain oracle platform. This setup has enabled DIA to add new data sources in a very efficient and timely manner, compared to other oracle providers. We add new data all the time. How does it work? A crowd of developers is continuously building new data scrapers to source new data from the different new DeFi Apps, CEXs, DEXs and more. When the work is approved, the developers get rewarded for completing the tasks and the update gets pushed to DIA’s code base. This system enabled DIA to add new data types in a very scalable and fast way, by leveraging the power of the crowd.
Are you a developer? You can contribute to the development of the DIA platform via completing bounties in our Gitcoin page here:
How did you get the project to use DIA data, active connection? Passive connection? Because I want so many projects to use DIAdata, 100+ or even 200+!
The business development team is working hard, building a network of partnerships and integrations within the different DeFi ecosystems. This is allowing the team to spread the word on DIA and find more projects seeking for a trusted data provider. Additionally, the team is attending events both in IRL as well as in different virtual conferences and metaverses.
With our focus on cross chain integrations we have been often the first oracle to deploy on these L1s and L2s. This created strong relationships with the individual L1s/L2s and positioned us well in the particular ecosystems. Looking at the substrate ecosystem with parachains deployed on Kusama such as Shiden and Moonriver we see that we are also recommended by projects that have already integrated us. This trust makes us very humble and we are extremely grateful for the dApps we work together on a daily basis.
I am a long-term investor, in the past bull cycle, the token has performed very poorly. How can you explain it?
As we communicated in the previous Community AMA, The team has no direct control over market behaviour and the price of DIA’s token. Of course, we are aware of this and doing what is in our power to improve DIA’s performance on traction, product upgrades and communication initiatives.
We are especially focussing on the integration of the DIA oracle in the many ecosystems that are currently growing next to Ethereum and ramping up communications activity to generate exposure as described above.
Why are there so many tokens unlocked? Why does the team need so much money? That’s a lot of money. What are they for?
The plan for use of the funds that will be progressively released from the DIA treasury is laid out in the DAO proposal in the forum here:
The usage of treasury and its unlock and burn is: 2.2M DIA (25%) will be burned; the remaining 6.8M (75%) DIA will be unlocked throughout 24 months to allow the development of the product, marketing and team.
- 50% — 3.43125 M DIA: Oracle and product development (3–12 months)
- 20% — 1.3725 M DIA: Marketing/staking/community development (1–12 months)
- 30% — 2.05875 M DIA: Team growth and DAO development (1–24 months)
As with any vote, the yearly treasury unlocks are open for suggestions from the community. We are very happy with the clear vote of confidence in the proposed usage. You can rest assured that we will use the funds only where needed with the highest impact to the project’s success.
I see that DIA will release more coins in the near future. But DIA won’t give us any development for upcoming sell pressure bec of releasing more coins. It means to our investors, the DIA team wants more money and the DIA team won’t protect their investors from price loss.
DIA’s token release schedule has been communicated clearly from the start, as well as the planned usage of the tokens. It is important to understand that unlocked tokens are not the same as tokens entering circulation.
The tokens will be used to incentivise core team members, incentivise ecosystem adoption, develop products and for marketing purposes. Most allocations come with an extended vesting schedule, so the notion that the circulating supply is increasing or that the team is selling these unlocked tokens is not accurate.
DIA is one of the few projects that enables the community to not only vote on the treasury but also enables them to provide proposals to be voted upon, maximising the inclusion and joint decision of the DAO.
Are there any new updates regarding the DIA ARTs? And the claimable pools?
We will actually provide more details on this initiative this Thursday! Essentially we will enable ART holders to lock their ARTs, giving them access to a portion of a pool of DIA.
The technical infrastructure for this is being built as we speak. We are aware of and concerned with high gas fees on the Ethereum network and want to enable ART holders to engage in this initiative without incurring massive fees.
The final shipping date is estimated for January 2022, but will be announced as soon as it is ready. Watch this space and the announcement channel for updates!
Hello DIA Team, can I ask when Coinbase will add DIA? Thanks for the answer
Unfortunately, we can not give an estimate of when DIA’s integration with Coinbase will happen.
This decision is external to the team and we can not provide any further information. On the other hand, DIA token is available in a number of centralised and decentralised exchanges. Have a look at the token page:
As you know DIA token price is being pressured whenever it passes $2 and this is speculated by some people that the team is selling at that price. Is that true?
As you rightly point out, this is pure speculation and untrue. We obviously have the same interest: seeing the price develop positively and can not understand the reasoning behind this idea.
Can you explain to us more about the last Treasury Vote result
The vote successfully passed with ≈95% of the votes in favour of implementing the proposal. You can have a more detailed look of the proposal here: https://dao.diadata.org/t/gdp-008-december-2021-dao-treasury-vote/99
And you can have a look at the Snapshot page here: https://vote.diadata.org/#/proposal/0x124805109c7cd80cb521e73da8586f3fc9b85b7b915edd947be6ae2e2e9dac4f
Is currently any staking program taking place for DIA token holders?
Yes, 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 and anyone who locks their tokens can unlock them any time.
You can access it via this link: https://www.binance.com/en/savings
How does DIA plan to serve the new wave of gaming and metaverse projects?
We are currently developing new DIA products designed to fuel projects in the DeFi gaming space. This will be a very exciting feature to support DeFi gaming and P2E use cases, but unfortunately it is still in a very early stage phase, so we can not give any further updates. Make sure to follow DIA’s progress and channels.
Regarding metaverse projects, we are already leveraging the DIA platform to aggregate, harmonise and verify data from many different metaverses and NFT platforms such as CryptoPunks, CryptoKitties, NBA Top Shot and many more. This is enabling DeFi applications to have easy access to harmonised data from all these different ecosystems to easily build new dApps. You can learn more about this here:
It’s very cool to see some DAO interaction. Are there any updates on the development of the DIA DAO
Yes, there are! This week, we will reveal a new module for the DIA DAO. This new process will involve the DAO in the validation of features of DIA’s product. We will share an introduction piece at the end of the week with more details and how to get involved. So stay tuned!
I have recently seen DIA announce a partnership with Ovre. They are a Fantom based project, but there has not been an announcement of integration with Fantom. Can you share why?
That is a very good observation. Yeah, we have indeed announced the partnership with Ovre. And yes, they are indeed a Fantom based project. We are currently planning some juicy comms activity. Keep your eyes peeled!
What can you tell us about DIA’s collaboration with Morningstar? Seems very bullish!
We recently launched DIAx, a group of regulatory compliant reference prices and indexes, to enable traditional investors to access the DeFi and digital asset space. It was indeed done together with Morningstar Indexes, a sub-brand of Morningstar, Inc.
The first 3 indexes and reference prices benchmark the performance of individual digital assets, including Bitcoin (DIAxBTC), DIA (DIAxDIA) and the DIA Metaverse Index (DIAxMVI) — measuring the performance of a basket of tokens representing companies building Metaverse technology.
Learn more about it here:
