What Is DIA (DIA)?
DIA (Decentralised Information Asset) is an open-source oracle platform that enables market actors to source, supply and share trustable data. DIA aims to be an ecosystem for open financial data in a financial smart contract ecosystem, to bring together data analysts, data providers and data users. In general, DIA provides a reliable and verifiable bridge between off-chain data from various sources and on-chain smart contracts that can be used to build a variety of financial DApps.
DIA is the governance token of the platform. It is currently based on ERC-20 Ethereum protocol.
The project was founded in 2018, while the token supply was made available to the public during the bonding curve sale from Aug. 3 through Aug. 17, 2020, where 10.2 million tokens were sold.
Who Are the Founders of DIA?
The DIA association was co-founded by a group of a dozen people, though Paul Claudius, Michael Weber and Samuel Brack are the leaders.
Claudius is the face of the project and its lead advocate, sometimes also mentioned as a CBO. He has a masters degree in international management from ESCP Europe and a bachelors in business and economics from Passau University. Apart from working on DIA, he is also a co-founder and CEO of BlockState AG and c ventures. Before crypto, he had worked as director for a nutrition company called nu3.
Weber is the project’s CEO. He holds a asters in management from ESCP Business School and an equivalent to a bachelors in economics and physics from University of Cologne.
He has worked in several banks and financial institutions before turning to crypto, where he founded such projects as Goodcoin, myLucy and BlockState.
Samuel Brack serves DIA in the role of CTO. Like both Claudius and Weber, he shares the same position at BlockState. He has a masters degree in computer science from Humboldt University of Berlin, where as of January 2020, he is still studying for his PhD.
Primary features of DIA
- Passive income: As a bonus, the DIA coin offers a special interest rate dubbed the DIA Saver’s Rate (DSR).
- Decentralized: Due to DIA’s decentralized architecture, investors have unfettered access to their cash. Due to its permissionless and transparent structure, there are no middlemen, approvals, or credit checks.
- Secure: Two-factor authentication and other security features, including routine audits and DIA’s secure integrated wallet, enhance the ecosystem’s safety.
What Makes DIA Unique?
DIA aims to become the Wikipedia of financial data. It specifically addresses the problem of dated/unverified/hard to access data in the world of finance and crypto, especially DeFi, while proposing to solve it viaa system of financial incentives for users to keep the flow of open-source, validated data streams to the oracles up and running. The current design of oracles, DIA argues, is non-transparent, difficult to scale and vulnerable to attack.
The DIA governance token will be used to fund data collection, data validation, voting on governance decisions and to incentivize the development of the platform. Users can stake DIA tokens to incentivi`e new data to appear on the platform, but access to historical data though DIA is free.
Pros & Cons of DIA coin
- ERC20: It’s easy to transmit, transparent, and safe because it’s based on Ethereum’s blockchain technology. ERC20 DIAs can be kept in personal hardware wallets where the users own private keys.
- Censorship: A stable coin immune to the government or regulatory censorship, DIA is regulated by smart contracts.
- Transparency: Due to DIA’s use of Ethereum as collateral, it’s immutably verifiable on the Ethereum Blockchain.
- Liquidity: Compared to centralized stablecoins like USDT and USDC, DIA is only listed on a handful of big exchanges and has a fraction of the trading pairs.
- Ethereum Collateralized: The DIA cryptocurrency is collateralized by Ethereum, a significantly more volatile asset than the US Dollar, making it a risky investment. Compared to currency-backed stablecoins that are collateralized by fiat, Ethereum is hundreds of times more likely to flash crash.
- Peg stability: Due to being collateralized by a volatile asset on Ethereum, DIA is more susceptible to USD price swings than centralized stablecoins.