DIA, a decentralized oracle network specializing in customizable market data feeds, has partnered with the Stacks ecosystem, as per the latest information shared with Finbold on September 11. Facilitating the development of decentralized finance (DeFi) applications on Bitcoin’s Layer 2, this collaboration integrates DIA’s oracle suite with Stacks to offer real-time price data for STX and SIP-10 tokens.
Mitchell Cuevas, the Executive Director at the Stacks Foundation, praised the DIA integration for addressing critical Bitcoin DeFi issues. He emphasized the importance of supporting builders in acquiring the necessary resources for success, with DIA being a popular choice among builders for an oracle solution.
The partnership between DIA and Stacks opens up opportunities for DeFi solutions across various platforms, including lending, stablecoins, and decentralized exchanges (DEXs). Tycho Onnasch, the co-founder of Zest Protocol, highlighted the significance of Oracle’s price feeds for lending applications and the DeFi ecosystem on Stacks.
Integrating real-time price feeds into smart contracts and dApps allows developers to explore various use cases like collateralized debt positions (CDP), perpetual DEXs, and lending markets. By offering free access to DIA’s price oracles, Stacks developers are encouraged to innovate further on the platform.
DIA’s decentralized data aggregation from multiple exchanges ensures developers have access to reliable pricing information. Additionally, the collaboration includes integrating Bitflow exchange data to provide price oracles for all assets traded on the platform. The joint effort between DIA and Stacks aims to strengthen Bitcoin-based DeFi solutions and drive innovation within the ecosystem.