DIA or “Decentralised Information Asset” described as an open-source data and oracle platform for the DeFi ecosystem, has kicked off its public distribution of its governance token. The distribution of the governance token is via an “autonomous bonding curve sale” for the Switzerland based entity. The private sale reportedly sold out in 3 days.
The token sale appears to have hit a few bumps as the site is currently unavailable and Twitter shows interested individuals complaining about the process.
📣 DIA Bonding Curve Distribution is LIVE
— DIA | Open-Source Data and Oracles for #DeFi (@DIAdata_org) August 3, 2020
Token Bonding Curves are described as “sustainable, transparent, and fair.” A blog post by DIA explains it as follows:
“Token bonding curves are smart contracts that provide tokens using buy and sell functions, thus creating their own market. The price for each token increases as tokens are bought from the contract and decreases as they are sold back. So in effect, a trade is determined by the average price of each token in the transfer batch and the amount of tokens on the market. Investors can sell back tokens at any time, as the contract is 100% collateralised at all times and the contract autonomously creates an instant market, essentially giving buyers control over the project and team.”
You may read more about bonding curves here.
DIA seeks to make “validated and auditable financial market data accessible and open-source to both traditional and decentralised financial markets. Rather than sourcing and providing data itself, the DIA platform sets crypto-economic incentives that drive the sourcing and validation of data by the community.”
DIA’s co-founder and Association President Michael Weber stated in a release:
“With a DeFi industry already worth $5 billion and growing at a rapid pace, trusted data will become the most crucial building block for the DeFi economy. We believe that data needs to be community-driven, decentralised, and transparent. The DIA Association will be positioned to provide the best possible oracles by leveraging the decentralisation of DIA as an organisation and a community that is incentivised at each step the process.”
DIA is backed by venture capital funds, including Outlier Ventures (OV), Continue Capital, and TRG Capital. DIA was part of OV’s ‘Base Camp Accelerator.
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