DIA, or Decentralised Information Asset, is an open-source oracle platform designed to enable market participants to source, provide, and exchange reliable data. The platform aims to create an ecosystem for open financial data within a smart contract infrastructure, bringing together data analysts, providers, and users. Essentially, DIA offers a trustworthy and verifiable connection between off-chain data from various sources and on-chain smart contracts, which can then be used to develop a range of financial decentralized applications (DApps).
The governance of the platform is powered by the DIA token, which operates on the ERC-20 Ethereum protocol.
Launched in 2018, the project made its tokens available to the public during a bonding curve sale from August 3 to August 17, 2020, successfully distributing 10.2 million tokens.
Who Founded DIA?
The DIA association was launched by a collective of about 12 people, with Paul Claudius, Michael Weber, and Samuel Brack leading the project.
Paul Claudius is the project's leading advocate and has also been referred to as a Chief Business Officer (CBO). His academic background includes a master's degree in international management from ESCP Europe and a bachelor's in business and economics from Passau University. Besides his work with DIA, Claudius co-founded and serves as CEO of BlockState AG and c ventures. Prior to his involvement in crypto, he served as director for a nutrition company named nu3.
Michael Weber is one of DIA's Founders and acts as the association's President. He has degrees in management from ESCP Business School as well as in economics and physics from the University of Cologne, Germany. Before venturing into crypto, he held various roles in banks and financial institutions and went on to establish projects like Goodcoin, myLucy, and BlockState.
Samuel Brack holds the position of CTO at DIA. Like Claudius and Weber, he also works with BlockState. He holds a master's in computer science from Humboldt University Berlin and is pursuing a PhD there as of January 2020.
What Sets DIA Apart?
DIA aspires to be the Wikipedia of financial data. It tackles the issue of outdated, unverified, and hard-to-access data in the financial and crypto sectors, particularly in DeFi. DIA's solution involves a system of financial incentives for users, encouraging a steady flow of open-source, authenticated data streams to the oracles. The current design of oracles, according to DIA, lacks transparency, is difficult to scale, and is prone to vulnerabilities.
The DIA governance token is instrumental in funding data collection and validation, voting on governance decisions, and encouraging platform development. Users can stake DIA tokens to motivate the appearance of new data on the platform, although access to past data via DIA is free of charge.
How Many DIA (DIA) Tokens Exist in Circulation?
The total supply of DIA tokens is capped, with 200 million coins created. Initially, 10 million tokens were sold during a private sale, and 19.5 million were allocated to early backers and advisors, with Outlier Ventures being the most significant. In August 2020, 30 million coins were offered in a bonding curve sale, where 10.2 million were sold to the public, and the remaining 19.8 million were burned. An additional 24 million tokens have been set aside for founders and the team, with a 29-month vesting schedule, and 25 million are reserved for the DIA ecosystem's future development. Finally, 91.5 million DIA tokens are held in the company's reserve, to be released in equal parts over ten years each December. From the initial release, half of the tokens were immediately burned following a community vote.
The plan is for smart contracts utilizing DIA oracles to regularly receive DIA Governance Tokens through what is known as "proof-of-use" and "proof-of-truth" mechanisms.
How Is the DIA Network Safeguarded?
DIA functions as a standard ERC-20 token, relying on Ethereum for operation and inheriting its strengths and weaknesses. The Ethereum network is among the largest and strongest due to its decentralized nature, with all transactions secured by the Ethash proof-of-work function. ERC-20 serves as a protocol that sets rules for token operations. However, Ethereum's limitations might surface; for instance, network congestion can drive up gas prices required for transactions, causing delays and unusually high fees, affecting all users.
Where Can DIA (DIA) Be Purchased?
DIA is a token that can be traded freely, with trading pairs like BTC, USDT, and ETH available. The primary exchanges for DIA trading currently include Binance, OKEx, HBTC, Bidesk, and BiKi. Additional exchanges can be found on our crypto exchanges page.
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