On August 3, 2020, the DIA or the Decentralized Information Asset project, announced that it has commenced the public distribution of its governance token. DIA was designed as an open-sourced data and oracle platform for the Decentralized Finance industry.
The Token Finally Launches
The DIA token launch has been highly anticipated ever since the DIA project was revealed. The event gives participants in the platform a chance to acquire the DIA Governance Token.
What is the Goal of DIA
DIA has several goals; first, the platform wants to be the main open-source platform for financial information. In essence, it wants to become the Wikipedia of financial data. Second, the DIA platform also wants to become a fully distributed governance platform and go full DAO by 2025.
DIA was founded in 2018 and it was registered as a Swiss Association. Its vision is to make auditable and validated financial market information open-source and accessible. The platform aims to be the source of data for the decentralized finance sector and the traditional markets. However, DIA will not be the main source of the data. Instead, the platform will create an incentive system powered by crypto, which will drive the sourcing and validation of information by the DIA community.
The Growth of DeFi Has Increased the Need for Better Data Solutions
The driving force of any financial market is reliable financial data. Whether you operate in the digital asset world or in the legacy financial system, bad data has had a huge impact on the markets. The dissemination of manipulated information and the lack of transparency has led to huge losses for many investors. As a result, it has led to an increased demand for transparent and trustworthy solutions to the data issue.
One area that is in critical need of transparent and trustworthy data is the DeFi sector. The sector has recently experienced explosive growth, which has led to renewed interest in the architecture behind it. While various providers are stepping up to cater to the demand for more data, the DIA solution is unique. Its success hinges on providers of data in the DeFi world embracing the benefits of decentralized governance to ensure the data they provide is of the highest quality and accessible to market players.
What the President Had to Say
Michael Weber, the Association President, and cofounder of DIA noted that the DeFi industry was already worth around $5 billion. He also noted that the sector was growing rapidly. As a result, access to trusted data would become a crucial cog in the success of the DeFi sector.
Weber added that DIA has a belief in data being community-driven, transparent, and decentralized. The Association president concluded by saying that DIA would provide the best oracles possible by relying on decentralization of the DIA platform and the community, which is incentivized to provide genuine data.
The Token Distribution
The first distribution of the DIA Governance token was first done via a private sale that sold out in 3 days. On August 3, DIA launched the public sale of the DIA tokens. Anyone can buy the tokens via the DIA website.
Image Source: DIA Twitter