DIA & Gains Network Partner to Introduce a Price Feed Oracle To Arbitrum Network

Gains Network, synthetic derivatives platform, and DIA have recently collaborated to introduce a few DeFi features to improve Silo Finance’s lending protocol. This new collaboration will introduce a new price feed oracle for gUSDC on the Arbitrum Network.

🎉 DIA x Gains Network

DIA has partnered with @GainsNetwork_io to deploy a price feed oracle for $gUSDC on the #Arbitrum network. https://t.co/bQ8boDrsEB

— DIA Community Hub (@DIACommunityHub) August 23, 2024

DIA is a cross-chain, end-to-end, open-source data and Oracle platform for Web3. Web3 applications rely on trustable and scalable data feeds to build reliable products and avoid exploitation and manipulation. The DIA platform enables the sourcing, validation, and sharing of transparent and verified data feeds for traditional and digital financial applications.

It collects billions of raw trading data ticks directly from 80+ sources, including Centralized Exchanges (CEXs) and decentralized Exchanges (DEXs). The data enables complete transparency and customization control throughout the entire value stack to fuel any web3 or web2 use case.

More About this Partnership Between DIA & Gains

Gains Network is an innovative synthetic derivatives platform operating on the Polygon and Arbitrum blockchains. Its core offering is gTrade, an Oracle-based perpetual futures exchange. It allows users to trade various asset classes, including cryptocurrencies, stocks, forex, indices, and commodities. The trading leverage ranges from 2x to 1,000x, depending on the asset class.

With the new price feed oracle from DIA, the Arbitrum Network will be more efficient and less prone to manipulating price feed for gUSDC. Silo Finance’s lending protocol will be more advanced and will provide more protection and better services to the users while borrowing or lending assets.

Lastly, synthetic derivatives and new features of DeFi have been added, which means that users have more possibilities for trading, lending, and earning within the DeFi environment. Incorporating a trustworthy price oracle enhances the security of the lending protocol to safeguard the users’ funds from possible loss.

Source