Open-Source DeFi Data Platform DIA Raises $15M Through Token Sale

Aug 21, 2020 at 18:49 UTCUpdated Aug 21, 2020 at 20:26 UTC

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Zug-based decentralized finance (DeFi) data aggregator DIA announced on Friday it has raised $15 million through the sale of its governance token.

In a press statement emailed to CoinDesk, the Swiss firm said this was the first round of its token sale. After a private sale that lasted three days, 30 million dia tokens, representing 15% of the total dia token supply, were also offered for sale.
According to the firm’s statement, DIA’s token has been listed on three exchanges: OKEx, Kucoin and BitMax.
Marketed as an open-source data aggregator for DeFi markets, DIA’s statement said the funds would be used to further develop the firm’s platform and get closer to its ambition of building an “open-source Bloomberg for DeFi.”
DIA exists roughly in the same space as DeFi oracles like Chainlink and Band Protocol.
“With the recent explosion of the DeFi space, the scrutiny of its underlying data infrastructure has intensified,” Outlier Ventures CEO and DIA investor Jamie Burke told CoinDesk. “The existing solutions on the market are seeing strong adoption and have great products, however, we believe that enabling and incentivizing the community to provide solutions that are fully transparent and accessible will lead to an optimal outcome.”

Read more: Sequoia-Backed Band Protocol Creeps Onto Chainlink’s Turf With Oracle Product

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