In recent news shared with Finbold on September 11, DIA, a decentralized oracle network specializing in customizable market data feeds, has partnered with the Stacks ecosystem, centered around STX. This collaboration facilitates the incorporation of DIA’s oracle suite with Stacks to deliver real-time price data for STX and SIP-10 tokens on Bitcoin’s Layer 2.
Mitchell Cuevas, the Executive Director at the Stacks Foundation, praised the integration of DIA, highlighting its role in addressing critical issues in Bitcoin DeFi as recognized by builders and the DeFi Working Group. This partnership is a strategic move that enhances relationships with reputable organizations.
The alliance between DIA and Stacks is set to power DeFi solutions on Stacks, aiding numerous dApps and blockchains. Tycho Onnasch, Zest Protocol’s co-founder, emphasized the significance of Oracle’s price feeds for lending apps and the broader DeFi ecosystem on Stacks. This integration opens up new possibilities for developers to leverage real-time price feeds in creating smart contracts and dApps, promoting innovation in collateralized debt positions, decentralized exchanges, and lending markets.
Furthermore, developers on the Stacks platform will benefit from complimentary access to DIA’s price oracles, supporting inventive ventures across the ecosystem. DIA’s decentralized model ensures reliable pricing data sourced from over 100 exchanges, enhancing developers’ confidence in accurate information. Additionally, the collaboration includes the incorporation of Bitflow exchange data, thereby offering price oracles for all assets traded on the platform.