DIA introduces governance token for open-source financial data platform

6 months ago 31

Decentralised Information Asset (DIA), an open-source data and oracle platform for the DeFi (Decentralised Finance) ecosystem, today announced the first step to decentralize its governance by the public distribution of its governance token on Monday, August 3, 2020. The event will give participants the opportunity to acquire DIA’s Governance Token (DIA).

Founded in 2018 as a Swiss Association, DIA’s vision is to make validated and auditable financial market data accessible open-source to both traditional and decentralized 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.

The growth of DeFi calls for more resilient data solutions Financial data is the critical foundation of any financial market. Both in traditional and digital asset markets the cost of bad data has become tragically apparent in the wake of scandals surrounding manipulation and a lack of transparency, causing severe loss of funds and calling for more trustworthy and transparent solutions.

In particular, the recent growth of DeFi applications has sparked a new interest in the data architecture that supports this ecosystem. While a range of providers are already catering to the increasing demand for data, DIA’s approach fuels the hope that the ecosystem’s data providers will leverage the benefits of decentralized governance to provide the highest quality data and make it accessible to all market actors.

DIA’s co-founder and Association President Michael Weber explains, “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, decentralized, and transparent. The DIA Association will be positioned to provide the best possible oracles by leveraging the decentralization of DIA as an organization and a community that is incentivized at each step the process.”

DIA’s Governance Token Distribution

Following its private sale which sold out in just 3 days, DIA will make its governance token accessible in a novel allocation mechanism dubbed “bonding curve distribution”. This will be the first public distribution of DIA’s governance token and aims to decentralize governance to the broader DeFi and blockchain ecosystem and raise funds for the continued development of the platform. The distribution will be publicly accessible via DIA’s website starting today, Monday, August 03, 2020.

DIA’s team brings extensive experience in blockchain and finance

DIA is run by a team of experienced web3 founders and financial market experts and is backed by notable venture capital funds, including Outlier Ventures (OV), Continue Capital, and TRG Capital as well as angel investors from the traditional financial space. As one of the star performers to emerge from OV’s ‘Base Camp Accelerator’ DIA has received praise as one of the most promising upcoming DeFi projects, dedicated to the democratization of data and company transparency.

Following the upcoming distribution, DIA is planning several other mechanisms to allocate its governance tokens to key DeFi market actors and innovators as part of the ‘DIA Ecosystem Token Pool’ and ‘DIA Labs’. DIA’s goal is to reach a full DAO implementation by 2025.

Jamie Burke, Founder of Outlier Ventures, explains, “DIA’s unique proposition is to democratize the provision, access, and usage of financial information by leveraging the wisdom and power of the crowd. Their mission is to make financial data standardized, open-source, and accessible to everyone and under the same terms. We believe that decentralized finance will be a multi-billion dollar industry and that DIA are leading the innovation that will secure a solid and fair foundation for this industry.”

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