CrossFi picks DIA as its Cross-Chain Oracle Provider to Power its Chain

CrossFi has partnered with DIA, a cross-chain oracle provider, to power its L1 blockchain and apps. Oracles are the bridge that connects the blockchain with off-chain and real-time data like interest rates, stock exchange, stablecoin prices, etc.

Feb 15, 2024, San Francisco

Cross Finance is a next-generation digital ecosystem of cutting-edge payment solutions, bridging the worlds of banking and blockchain. Cross Finance seamlessly integrates these two pivotal segments of the global economy into a unified ecosystem, offering unparalleled scalability and processing speed of up to 1 million transactions per second through the core of the CrossFi Chain—a modular architecture based on Cosmos Tendermint.

The decentralized and robust nature of the blockchain has its benefits and challenges. One challenge is having a decentralized connection to the off-chain world to execute on-chain smart contracts using information like the price of Bitcoin, Ethereum, stocks, and real-world currencies. DIA offers an open-source, customizable, and transparent cross-chain oracle for Web3 to power such operations. The decentralized oracle has a built-in fail-safe so that if one source is compromised, other sources continue to offer consistent and reliable data for the blockchain.

Technical and operational partners like DIA are the building blocks of a robust and scalable network. The CrossFi team was thoroughly impressed by the DIA Oracle toolkit and no-code solutions for developers to reduce their deployment time without compromising transparency, customization, and control. This partnership powers pivotal components of CrossFi apps and enables developers to create more bridges to real-world operations.

Alexander Mamasidikov

CEO, Chief ideologist & coordinator of the team

DIA’s all-in-one blockchain Oracle Suite offers developers no-code tools to autonomously create and manage blockchain oracles with complete transparency, customization, and control. This partnership will enable CrossFi APP and xAPP to power trading, liquidation, staking, and other tools on-chain. The mission of CrossFi is bridging the gap between real-world banking and crypto payments, so partners like DIA are pivotal in creating such a network.

We are excited to partner with Cross Finance to deploy our oracle infrastructure in its L1 blockchain. The integration will bring transparent and robust market data through DIA's oracle solutions to realize Cross Finance’s mission to become the next-generation ecosystem of cutting-edge payment solutions. DIA oracles will unlock a myriad of use cases and applications in the CrossFi ecosystem for over 20,000+ assets, driving innovation as well as enhancing utility for users.

Michael Weber

DIA Association President

To learn more about DIA visit: https://www.diadata.org/

About Cross Finance

CrossFi is a next-generation digital ecosystem of cutting-edge payment solutions, bridging the worlds of banking and blockchain. CrossFi seamlessly integrates these two pivotal segments of the global economy into a unified ecosystem, offering unparalleled scalability and processing speed of up to 1 million transactions per second through the core of the CrossFi Chain—a modular architecture based on Cosmos Tendermint. The Cross Finance foundation, rooted in Ethermint and Evmos, ensures interoperability between blockchains, transaction anonymity, and the integration of EVM-compatible DApps. The tandem operation of two native coins, MPX and XFI, fortifies CrossFi’s tokenomics foundation, providing users with a seamless and robust financial experience.

About DIA

DIA is a cross-chain data and oracle platform, serving over 40 L1 and L2s. The DIA architecture entails a novel first-party approach to data sourcing, by scraping trade data directly from DEXs & CEXs, rather than a reliance on trusted third-party data providers.

This enables DIA to provide 100% transparency and selection regarding which sources are used for data feeds, bespoke customization for dApps which require tailor-made oracles and enables DIA to support ecosystem-native and long tail assets.