Komal Joshi · Oct 19, 2020 . 6min read
Switzerland’s DIA Plans to Develop DeFi Data Platform, Raises $15 M
A Switzerland based firm DIA plans to develop an open-source financial data product. It was successful in raising $15 M for the project.
By Komal Joshi · Aug 21, 2020 . 6min read
A Switzerland based firm DIA plans to develop an open-source financial data product. It was successful in raising $15M for the project. DIA (Decentralized Information Asset) is an open-source, financial information platform. Moreover, it uses crypto-economic incentives to source and validates data. DIA functions as a non-profit association.
It conducted a private sale and bonding curve distribution, an innovative token sale model, to raise capital for the project. The value of the token rises algorithmically with each new purchase that netted $15 million from nearly 10,000 investors.
The funds will be utilized to offer valid financial data for DeFi. Thus, the raise will also support its grant program, DIA Labs, which provides qualifying industry players access to the platform via the DIA token. Moreover, the bonding curve sale offered 30 million tokens, which accounted for 15% of the total minted supply.
DIA Governance Token to Boost DeFi Ecosystem
DIA, a data platform plans various other mechanisms to allocate its governance tokens to key DeFi market users and innovators. The components of the project are ‘DIA Ecosystem Token Pool’ and ‘DIA Labs.’ Furthermore, the company plans to become a fully decentralized autonomous organization (DAO) in the next five years.
A team of experienced web3 founders and financial market experts operates Decentralized Information Asset. Notable venture capital funds, including Outlier Ventures (OV), Continue Capital, and TRG Capital, support DIA. Additionally, angel investors from traditional space also back the project. Moreover, it emerged as one of the star performers from OV’s ‘Base Camp Accelerator.’ Moreover, DIA applauds as one of the most promising upcoming DeFi projects committed to democratizing data and company transparency.
Conclusively, financial data is the prominent pillar of any financial market. In conventional and digital asset markets, the cost of bad data has become apparent in the wake of scandals. Lack of transparency and manipulation surrounds the scams. It results in severe loss of funds. As a result, users demand more trustworthy and transparent solutions. However, the recent exponential growth of DeFi applications has developed an interest in the data architecture that supports this ecosystem. With DIA’s upcoming project, the ecosystem’s data providers will leverage decentralized governance’s benefits to offer the highest quality data and make it available to everyone.
Follow Cryptodose for more updates.