Mimo is pleased to announce its collaboration with DIA, which from now will be providing the protocol with a fully transparent price oracle in all chains. The oracle will be used to calculate the price of the governance token MIMO, PAR & LPs, allowing, in particular, to integrate all the native tokens of the Mimo protocol to the Mimo Midas pool.

What is DIA ?

DIA (Decentralised Information Asset) is a multi-chain, open-source oracle platform for Web3. In simplicity, DIA is an oracle platform that draws data from a wide coverage of on-chain and off-chain sources, to aggregate, compute and share verified data to relevant financial applications, digital and traditional.

Its architecture enables the deployment of fully customizable price oracles for 2k+ digital assets, 18k+ NFT collection and 20k+ traditional financial assets. DIA is currently integrated on 30+ L1 & L2 blockchains.

The DIA DAO is a community that admirably grows organically. It aims to govern and build DIA’s open-source data platform in a distributed fashion. At the same time, the DAO’s goal is also to increase DIA’s product awareness and education, while encouraging a positive engagement in the community. 

What is the purpose of an Oracle ?

Oracles are a crucial part of blockchain infrastructure. They enable smooth interaction between the external world and on-chain environments in a trustless manner. The inaccessibility of smart contracts to interact with off-chain data makes them dependent on oracles for execution and further use case capabilities.

How does the DIA Oracle work ?

To provide such a comprehensive range of price oracles, DIA’s community of developers scrape data directly from a wide variety of on-chain sources (DEXs, NFT marketplaces, DeFi Protocols, etc.) and off-chain sources (CEXs) at individual trade levels/

This approach allows DIA to leverage the broadest possible set of sources, ensuring maximum coverage of asset price data. Currently, DIA is fetching data from 65+ data source markets, and therefore, any asset that is publicly accessible can be sourced, regardless of its listing conditions and its trading volume.

DIA’s open-source oracle infrastructure differentiates itself from other Web3 data solutions as it doesn’t rely on third-party data providers. With its end-to-end architecture, DIA is able to meet any specific data and asset requirements a project may have while also providing users complete transparency on how the data feeds are made.

DIA’s high level of granularity and transparency on data sourcing enables the creation of fully customizable price oracles while ensuring the broadest asset coverage.

Why does Mimo use DIA as an Oracle ? 

The decision to collaborate with DIA was initially motivated by the deployment of the Mimo pool on Midas. Indeed, an oracle was required to integrate $MIMO and its LPs into the pool.

Based on the features mentioned above, DIA appeared to be the obvious choice for Mimo. Also, DIA did not require any volume requirement, unlike LINK, which made an oracle integration much more accessible.

The DIA team has been more than reactive and efficient and now allows the Mimo pool on Midas to integrate $MIMO & its LPs, allowing to borrow against them.

How to follow along ?

Find all the information about the $MIMO and $PAR DIA oracles here, as well as some more resources about DIA on their website and documentation.

A governance proposal to list $MIMO and its LPs on our Midas Pool is being drafted.