DIA

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is DIA?

DIA (DIA) is a cryptocurrency that serves as a governance token for an open-source data aggregator platform. It is used to incentivize data suppliers and is collateralized by Ethereum, making it a volatile investment. The platform leverages crowdsourcing to gather data, which is then used to execute transactions on various blockchain networks. DIA is decentralized, transparent, and secure, with its value influenced by the Ethereum market. It can be stored in personal hardware wallets and is available for trading on several exchanges.

How is DIA used?

The DIA (DIA) token is used for several purposes within the DIA ecosystem:

  1. Governance: The DIA token empowers the community to govern the DIA platform, validate crowdsourced data feeds, and participate in ideation, proposals, and voting on the consensus that influences the decisions of the DIA's DAO.

  2. Data Collection and Validation: The token can be used to fund data collection and validation, ensuring the accuracy and transparency of the data feeds.

  3. Incentivizing Development: The token incentivizes the platform's development by rewarding contributors and stakeholders for their work.

  1. Staking: Users can stake DIA tokens to incentivize new data to appear on the forum and access historical data through DIA for free.

  2. Trading: The token can be traded against other cryptocurrencies, allowing users to buy and sell it on various exchanges.

Overall, the DIA token plays a central role in maintaining the integrity and functionality of the DIA platform, which aims to provide transparent and reliable data feeds for various financial and digital assets.

How do I store DIA?

To store DIA tokens, you can use various Ethereum-compatible crypto wallets. Here are some options:

  • Native OKX Wallet: You can safely store your DIA tokens in your native OKX wallet, which provides top-notch security measures.
  • External Wallets: You can also store DIA tokens in external Ethereum-compatible wallets like MetaMask, MyEtherWallet, Trezor Wallet, Ledger, Atomic Wallet, and Guarda Wallet.

These wallets ensure the secure storage of your DIA tokens.

How to buy DIA?

To buy DIA (DIA) tokens, you can follow these steps:

  1. Create an Account:

    • On Coinbase, sign up or download the app and start the sign-up process. You will need a valid ID and may be asked for proof of address.
    • On Binance, create a free account on the website or the app. Verify your identification before using the platform.
    • On KuCoin, create your free KuCoin account, secure it, and verify your account.
    • On Kriptomat, click on the Kriptomat icon and select “Buy”.
  2. Add a Payment Method:

    • On Coinbase, tap on the payment method box and connect a payment method such as a bank account, debit card, or initiate a wire transfer.
    • On Binance, you can use a credit card, debit card, or bank deposit to buy DIA.
    • On KuCoin, add a payment method to buy stablecoins like USDT, which can then be used to buy DIA.
    • On Kriptomat, you can use a credit or debit card to buy DIA.
  3. Select DIA:

  • On Coinbase, select DIA from the list of assets.
  • On Binance, click on the "Buy Crypto" link and choose DIA.
  • On KuCoin, transfer your crypto to a KuCoin Trading account and then buy DIA on the Spot Market.
  • On Kriptomat, choose DIA from the list of cryptocurrencies.
  1. Enter the Amount and Confirm:
    • On Coinbase, enter the amount you want to spend in your local currency, and the app will automatically convert it into a DIA amount. Preview and confirm your purchase.
    • On Binance, check the payment details and fees, and confirm your order within 1 minute.
    • On KuCoin, follow the instructions on the Spot Market to complete your purchase.
    • On Kriptomat, enter the amount, preview the transaction, and confirm your purchase.

After completing these steps, you will have successfully bought DIA tokens.

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History of DIA

DIA (Decentralized Information Asset) is an open-source oracle platform that aims to provide a reliable and transparent bridge between off-chain data and on-chain smart contracts. Founded in 2018, DIA's mission is to introduce transparency into the opaque world of price feeds, securing millions in total value locked (TVL).

The project was co-founded by Paul Claudius, Michael Weber, and Samuel Brack. Claudius and Weber also hold positions at BlockState AG and c ventures, while Brack serves as the CTO of DIA and BlockState.

DIA's token supply was made available to the public during a bonding curve sale from August 3 to August 17, 2020, where 10.2 million tokens were sold. The token is currently based on the ERC-20 Ethereum protocol.

DIA's unique approach to data sourcing involves crowdsourcing data from various exchanges, including centralized exchanges (CEXs), decentralized exchanges (DEXs), and non-fungible token (NFT) marketplaces. This ensures data precision and transparency, allowing users to track the origins of every data feed.

The platform has gained significant traction, with its data library featuring over 20,000 assets and being used by hundreds of decentralized applications (dApps). DIA's data products include token price feeds, NFT floor price feeds, randomness, and Liquid Staked Token (LST) feeds, among others.

DIA has integrated advanced monitoring tools to ensure real-time evaluation of feed reliability and has implemented dynamic security logics in its feeds to adapt to market changes. The platform has also formed partnerships with other blockchain ecosystems, such as Fantom, Polygon, and zkSync, to provide highly performant and accurate oracle services.

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How DIA works

The cryptocurrency DIA (Decentralized Information Asset) is a token that powers an open-source oracle platform designed to provide transparent and validated financial market data to both traditional and decentralized financial markets. Here's a detailed overview of how it works:

Data Requests and Submission
  1. Data Requests: Users can submit tickets for specific data sets that are not already available on the DIA platform. These requests are linked to a bounty in DIA tokens, which is paid to the provider who supplies the requested data first.

  2. Data Submission: Data providers, typically developers, create data scrapers that connect new data sources to the DIA platform. Anyone can contribute and validate the data. The process typically takes less than 72 hours for institutional-grade and customized data to be integrated.

Data Validation and Storage
  1. Data Validation: Developers submit code to fulfill the data request, which is validated through a staking mechanism. The community votes on who has supplied the correct data and who should be rewarded with the stake. Bounties are also offered for finding security flaws and bugs in the system.

  2. Off-Chain Computation: The raw data is sanitized and processed according to transparent methodologies to improve its reliability.

  3. Data Storage: The cleansed and processed data is stored in a flexible, open-source, and immutable database that can handle various data types.

Oracle Functionality
  1. Data Aggregation: The DIA platform aggregates thousands of data points from multiple off-chain and on-chain sources, including decentralized exchanges (DEXs), centralized exchanges (CEXs), Metaverses, NFT marketplaces, DeFi platforms, and Traditional Finance (TradFi) platforms. These data feeds are fully customizable, allowing users to choose sources and methodologies.

  2. Oracle Integration: DIA oracles serve as a sophisticated orchestration layer for Web3, integrating data seamlessly across various platforms. They are available on over 50 chains, making them accessible to a wide range of dApps and smart contracts.

Token and Governance
  1. DIA Token: The DIA token is deployed on the Ethereum blockchain and is also available on other blockchains like Binance Smart Chain and Arbitrum. It has a maximum supply of 200,000,000 tokens and is used for governance, validating crowdsourced data feeds, and incentivizing the community to contribute to the platform.

  2. DAO Governance: DIA operates as a decentralized autonomous organization (DAO), where token holders participate in ideation, proposals, and voting on consensus. The DAO is designed to be fully distributed by 2025.

Security and Incentives
  1. Security: The DIA token is secured by the Ethereum blockchain, which is transitioning from a Proof of Work to a Proof of Stake consensus mechanism.

  2. Incentives: DIA offers economic incentives to dApps and smart contracts that use its transparent oracles through its DIA token. These rewards are distributed through a Continuous Stakeholder Distribution Mechanism (CSDM) funded by DIA’s Ecosystem Token Pool.

Overall, DIA's decentralized and transparent approach to data sourcing and validation makes it a unique and valuable resource for the Web3 ecosystem.

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DIA's strengths

The token DIA (DIA) has several strengths that contribute to its value and potential in the cryptocurrency market. One of its biggest strengths is its ability to crowdsource data feeds efficiently and transparently. This mechanism allows it to quickly fulfill new data requests and deliver a wide range of publicly available data, making it a reliable source for decentralized finance (DeFi) and traditional finance (TradFi) platforms.

Another significant strength is how DIA effectively uses its native token to drive the platform's development and growth. This approach makes its growth sustainable and self-sufficient, as the token incentivizes data providers and supports various ecosystem initiatives.

Additionally, DIA's data feeds can be customized based on users' requirements, giving it an edge over its competitors. Its comprehensive data library contains pricing information for over 2,000 digital assets and 18,000 NFT collections, making it a valuable resource for various applications.

Overall, DIA's strengths lie in its innovative data sourcing mechanism, sustainable tokenomics, and the versatility of its data offerings.

DIA's risks

DIA (Denver International Airport) faces several financial risks that could impact its future financial performance. Key risks include:

  • Credit Risk: The financial health of its major tenant, United Airlines, and the airline industry in general. Any financial stress or upheaval in these sectors could negatively affect DIA's revenues and financial stability.
  • Liquidity Risk: DIA's cash reserves are crucial for meeting financial obligations. Any significant decline in passenger volumes or unexpected costs could strain these reserves.
  • Operational Risk: Unknown construction defects could result in major unexpected costs, which could be detrimental to DIA's financial health.
  • Legal Risk: The Securities and Exchange Commission (SEC) investigation and lawsuits filed by bondholders against DIA could lead to adverse actions and financial penalties.
  • Market Risk: Changes in ticket prices could influence passenger volume, which is a significant driver of DIA's revenues. Higher ticket prices might deter passengers, leading to revenue declines.
  • Regulatory Risk: Any SEC determination that disclosures were not fair or complete could affect the outcome of lawsuits and impact DIA's financial condition.

These risks highlight the importance of effective financial risk management for DIA to ensure its long-term financial stability and ability to meet its financial obligations.

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Did DIA raise funds?

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DIA’s team

  • Paul Claudius: Co-founder of DIA, a serial entrepreneur and financial markets expert who was previously the Director Europe of the nu3 group.
  • Michael Weber: Co-founder of DIA, part of the association leaders who founded the project in 2018.
  • Samuel Brack: Co-founder of DIA, part of the association leaders who founded the project in 2018.
  • Dillon Hanson: Team member of DIA, invited as a speaker for the Build on Bitcoin Hackerhouse at ETHDenver 2024.

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