- ADD.XYZ is relaunching its DeFi platform in collaboration with DIA
- The plan is to move it from an API-based to oracle-based solution
- DIA will provide their DeFi-centric data feed solution
ADD.XYZ has announced the collaboration with DIA. This partnership should deliver decentralized data oracles to on its DeFi platform. The main goal is to power the recently relaunched full-stack DeFi platform.
ADD.XYZ wants to give a full-stack aggregation and control platform for DeFi products. Recently they launched a token and relaunched its platform. It is an entirely in-house developed DeFi aggregator that units various DeFi applications and services into one well-rounded platform. The aggregator ADD.XYZ insists on users’ experience, privacy, and anonymity.
The management team wants to transform the platform from a DeFi lending aggregator to an E2ES (end-to-end solution) platform. That would provide users with full management of their DeFi and CeFi portfolios, an aggregated governance dashboard for many tokens. With the launching of this new platform, ADD.XYZ enhances the transparency of the price feeds.
Integration based on API was built on lending rates for DAI from different spectrum of protocols. All are active now.
According to the official statement of this information technology and services company from London, England, migration to an oracle-based delivery solution is the next step.
Arnie Hill, Founder, and CEO at ADD.XYZ stated:
“Using DIA as a source for our price feeds was a no-brainer. No other oracle project delivers data at the same level of transparency and can include new price feeds at such a rapid rate.”
This exaltation comes from the fact that DIA’s all feed is open-source and free of charge. It is an entirely new feature for the start-ups that enter the DeFi world.
“We’re really excited that DIA is a possibility for us to work with as they become one of the major backbones of the industry,” pointed out Hill.
What is the value of DIA’s open source?
DIA is an open-source data platform that strives to congregate analysts, providers, and users of data. Their primary focus is on the smart contract DeFi ecosystem and bridging the information gap between on-chain and off-chain data availability.
ADD.XYZ will have a lot of benefits by implementing this software. First of all, it will have a fast and simple integration of current feeds. The ADD.XYZ will be able to quickly enrich its data feeds with the more supported protocols. A great add-on is the possibility of continuous validation of the feeds. It could provide them the highest quality and security.
DIA is also excited about the partnership with ADD.XYZ.
Michael Weber, co-founder, and CEO at DIA, said about ADD.XYZ’s team:
“They understand the importance of aggregating the complex DeFi market into sleek, user-friendly products to enable easier management and mass-market access to DeFi products. We are excited to be part of their journey and to be able to power their products with our open-source data feeds.”