Diadata Partners with AuroraSwap

AuroraSwap is an Aurora-based decentralized exchange DEX and also a cross-chain algorithmic stablecoin. AuroraSwap focuses on the Uniswap constant-product automated market maker (AMM) design. Cash flow suppliers can merely transfer a pair of tokens into AuroraSwap’s AMM, and its methodology will automatically generate marketplaces for the token duo. This enables businesses to quickly swap between tokens in the AMM and receive assured swap rates. Each swap on AuroraSwap generates a service charge, which would be dispersed to liquidity providers as reimbursement for their services.

Diadata is excited to begin a new partnership with the Aurora ecosystem to provide open-source and clear oracles for the AuroraSwap protocol. DIA supplies detailed market rate data to AuroraSwap to power the lending protocol and ensures a smooth transaction.

DIA is authoritatively supplying AuroraSwap with various price feed ingredients, including BTC/USD, NEAR/USD, BRL/USD, ETH/USD, and many others. The oracles are calculated using a time-weighted average price methodology, abbreviated as TWAP.

DIA collects data straight from skimmers of numerous centralized and decentralized transactions to achieve decentralized and precise oracles. DIA is also scraping Aurora-born and bred data to create data sources for tokens that only operate on the Aurora chain (e.g., $BRL). DIA will pull and aggregate single trade info directly from Aurora-powered markets to achieve this.

About DIA

DIA is open-source, cross-chain information, and Oracle framework for Web3. The DIA system enables crowdfunding, verification, and sharing of truthful and validated data feeds for asset values, multiverse data, and other purposes. DIA data is derived from numerous on-chain & off-chain sources and made accessible to devs on all pertinent layer 1 & layer two networks at the trade level.

About AuroraSwap

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AuroraSwap is based on the Uniswap constant-product automated market maker design (AMM). Liquidity providers simply deposit a pair of tokens in an AMM, and an algorithm automatically creates markets for the token pair. Traders can easily swap between tokens in the AMM and receive guaranteed swap rates. Each swap on AuroraSwap generates a fee distributed to liquidity providers as payment for their services.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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