Chedda Finance Partners with DIA for Reliable Price Feeds in Lending Pools
Location, December 5, 2024 Chedda Finance, a cross-chain lending platform designed for AI, agents, memecoins, and emerging markets, has announced a strategic partnership with DIA, a leading open-source oracle network, to integrate reliable, cross-chain price feeds into its lending pools. This collaboration enhances the accuracy, transparency, and security of asset pricing across Cheddas lending ecosystem as the platform prepares for its mainnet launch on BASE.
DIA, known for its trustless and customizable data oracles, offers accurate pricing solutions for a wide array of assets, including tokens, liquid staking tokens (LSTs), real-world assets (RWAs), and even random number generation. With DIAs ability to aggregate data from multiple blockchain networks, Chedda Finance is equipped to support seamless lending and borrowing activities for assets across different chains. This partnership underscores Cheddas commitment to creating a versatile and reliable DeFi lending platform that accommodates a diverse range of assets and user needs.
By integrating DIAs cross-chain price feeds, Chedda Finance ensures that users can access accurate, real-time pricing data for their assets, regardless of the network they originate from. This capability is crucial for enabling efficient lending and borrowing decisions, safeguarding against pricing discrepancies, and maintaining the integrity of the platforms lending pools. Accurate price feeds reduce the risk of liquidation errors and bolster the confidence of both liquidity providers and borrowers.
As a milestone in this collaboration, DIA deployed the first oracle on the Base Sepolia testnet, marking a significant step toward the full integration of price feeds on Cheddas platform. This deployment allows Chedda Finance to rigorously test and optimize DIAs price feeds in a controlled environment before the mainnet launch. The successful implementation of DIAs oracles in the testnet ensures that Cheddas infrastructure is robust and capable of supporting cross-chain lending at scale.
The partnership with DIA also reinforces Chedda Finances focus on transparency and user trust. DIAs open-source architecture provides verifiable and auditable data sources, ensuring that users can rely on the accuracy and integrity of the pricing information within Cheddas lending pools. This level of transparency is essential for fostering trust among users and partners as the platform continues to expand its offerings.
Looking ahead, Chedda Finance plans to leverage DIAs capabilities to support future network expansions and new asset integrations. As the platform introduces lending pools for assets in AI, agents, memecoins, and other emerging markets, DIAs adaptable oracles will enable seamless onboarding of new assets from various networks. This flexibility aligns with Cheddas vision of becoming a comprehensive cross-chain lending hub, providing users with a wide range of lending and borrowing options across the evolving Web3 ecosystem.
About Chedda Finance
Chedda Finance is a cross-chain lending platform designed for AI, agents, memecoins, and emerging markets. The platform allows users to supply assets, earn interest, and borrow crypto using isolated lending pools and cross-chain token support. Chedda aims to create a comprehensive money market hub that supports assets on any network. Built on BASE, Chedda Finance offers features such as auto-compounding rewards, direct liquidity options, and a unique $CHEDDA emission mechanism controlled by token holders.
For more information, visit chedda.finance.
About DIA
DIA (Decentralized Information Asset) is an open-source, blockchain-agnostic oracle network that provides verified data feeds for smart contracts. DIAs oracles deliver secure and transparent price feeds for cryptocurrencies, LSTs, RWAs, and other data points across multiple blockchain networks. By offering customizable and trustless data solutions, DIA supports a wide range of decentralized finance applications.
For more information, visit diadata.org.
Read more: https://zycrypto.com/chedda-finance-partners-with-dia-for-reliable-price-feeds-in-lending-pools/
Text source: ZyCrypto
