Genix.finance (GNX) API and Price Oracle

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Genix.finance

GNX
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x1b97...E7D6
Network
Blockchain network where the asset is deployed
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BinanceSmartChain
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is Genix.finance (GNX)?

Genix.finance (GNX) is a decentralized finance (DeFi) project launched in 2021. It aims to provide an ecosystem for yield farming, lending, and staking on the Binance Smart Chain (BSC). GNX token serves as the governance and utility token of the Genix.finance platform. The project was founded by a team of anonymous developers and there is limited information available about its origins. Nonetheless, Genix.finance has gained attention for its innovative DeFi solutions on the BSC.

How does Genix.finance work?

Genix.finance is a decentralized finance (DeFi) platform that operates on the Ethereum blockchain. It leverages the power of smart contracts to offer users various financial services. The underlying technology behind Genix.finance is based on blockchain oracles and automated market makers (AMMs).

To begin with, blockchain oracles play a crucial role in Genix.finance. They act as external information providers, supplying verified real-world data from outside the blockchain to the smart contracts within Genix.finance. These oracles ensure that accurate and reliable information is used to execute transactions and determine the outcome of various financial activities.

In addition, Genix.finance utilizes AMMs to create liquidity pools for its users. AMMs are algorithms that allow for the automated trading of assets without requiring an order book. Instead, users trade against pooled liquidity. This eliminates the need for intermediaries and provides a more efficient and streamlined trading experience.

Overall, the functioning of Genix.finance involves users interacting with smart contracts that are powered by blockchain oracles. Users can participate in various activities such as providing liquidity, borrowing and lending assets, and trading within the platform's liquidity pools. The transparency and security provided by the Ethereum blockchain ensure that transactions are reliable and tamper-proof.

It's important to note that the above information is a general overview of how Genix.finance works. For more detailed and specific information, it's recommended to refer to the official documentation and resources provided by Genix.finance itself.

What are the benefits of Genix.finance?

Genix.finance offers several notable benefits compared to its direct competitors. Firstly, Genix.finance embraces decentralized finance (DeFi) principles, allowing users to have full control and ownership of their funds. This means that users can transact without intermediaries or the need to trust a centralized authority. This decentralized approach provides increased transparency and reduces the risk of censorship or manipulation.

Another key benefit of Genix.finance is its emphasis on security. The platform utilizes various security measures, such as audited smart contracts, to ensure the safety of user funds. Additionally, Genix.finance employs multi-signature wallets and follows industry best practices to protect against potential attacks or hacks.

Furthermore, Genix.finance stands out for its user-friendly interface and intuitive user experience. The platform prioritizes simplicity and ease of use, making it accessible to both experienced DeFi users and newcomers to the space. The smooth onboarding process ensures a seamless journey for users, facilitating their engagement with the platform's features and functionalities.

While there are other competitors in the DeFi space, such as Compound and Aave, Genix.finance distinguishes itself through its focus on user empowerment, security, and user experience. By combining these benefits, Genix.finance aims to provide a robust and reliable DeFi ecosystem for individuals seeking decentralized financial solutions.

What is Genix.finance used for?

Genix.finance is a decentralized finance (DeFi) platform that serves as a marketplace for lending, borrowing, and staking cryptocurrencies. It aims to provide its users with opportunities to earn passive income and maximize their holdings within the crypto space.

Common use cases for Genix.finance include:

1. Lending: Users can lend their idle cryptocurrencies to earn interest. By lending their assets, individuals can put their holdings to work and earn additional income over time. This feature is particularly attractive for long-term holders who are willing to lend their assets for a certain period.

2. Borrowing: Users can also borrow cryptocurrencies by collateralizing their existing holdings. This allows individuals to access capital without having to sell their crypto assets. Borrowing can be useful for various purposes, such as taking advantage of investment opportunities or meeting short-term financial needs.

3. Staking: Genix.finance enables users to stake their cryptocurrencies to participate in the platform's governance and earn rewards. By locking up their tokens, participants contribute to network security and decision-making while earning additional tokens as incentives. Staking can be an attractive option for individuals who believe in the long-term potential of a particular cryptocurrency project.

One specific use case that is worth exploring is borrowing against collateralized assets. Let's say you own a significant amount of cryptocurrency but require some capital for a personal investment. Instead of selling your crypto holdings and incurring potential taxable events, you can collateralize your assets on Genix.finance and borrow against them. This allows you to access liquidity while still maintaining ownership of your cryptocurrencies. Once you repay the loan, you can retrieve the collateralized assets. This feature provides flexibility and enables individuals to leverage their crypto holdings without losing long-term investment potential.

What is DIA's Genix.finance API?

DIA's Genix.finance API is a powerful tool that provides real-time price feeds for various cryptocurrencies and NFTs. These price feeds are generated by aggregating raw data from over 85 on-chain and off-chain exchanges, resulting in comprehensive and accurate information. Unlike other web3 data providers, DIA's API endpoints offer unparalleled reliability and coverage.

DIA offers both free and customizable API endpoints. Developers can access the free price feed API endpoint for any asset on the asset's detail page within the DIA App. These API endpoints are provided in a standardized format for informational purposes and are ideal for testing and exploration. However, DIA's custom feeds offer even more value and flexibility. With custom feeds, users can tailor the sources, methodologies, update mechanisms, and more to meet their specific requirements.

The use cases for DIA's API are vast and diverse within the blockchain ecosystem. For decentralized finance (DeFi), the price information from DIA's APIs can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the growing field of NFT finance (NFTfi), DIA's APIs enable applications such as peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and beyond.

In summary, DIA's Genix.finance API provides real-time price feeds for cryptocurrencies and NFTs, sourced from a wide range of exchanges. While DIA offers free API endpoints for testing, the real value lies in the customizable custom feeds that can be tailored to meet specific needs. These APIs have extensive use cases within DeFi and NFT finance, enabling developers to build innovative applications and solutions. Contact DIA via Discord or Telegram to request a custom feed or explore the free API endpoints available within the DIA App.

What is DIA's Genix.finance price oracle?

DIA's Genix.finance price oracle is a smart contract that provides real-time price feeds of various crypto assets. DIA stands out because it is integrated with over 35 layer 1 and layer 2 networks, meaning it can deploy price oracles in multiple blockchains. DIA's price feeds are constructed by sourcing raw data from more than 85 cryptocurrency and NFT exchanges, both on-chain and off-chain. This comprehensive data allows DIA to offer unique insights and information that other web3 data providers cannot match.

While DIA provides demo oracles for developers to test, these are only for testing purposes and cannot be integrated into production applications. However, DIA also offers the option to request custom configurations for price feed oracles. These custom oracles can be tailored to specific needs, including sources, methodologies, and update mechanisms. To request a custom feed, users can reach out to DIA via Discord or Telegram.

DIA's price oracles have a wide range of use cases within the blockchain ecosystem. Some potential applications in the DeFi space include derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets. Additionally, there are various NFTfi applications like peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

In blockchain technology, an oracle refers to an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles bridge the gap between the blockchain and the real world, enabling decentralized applications to access real-time and accurate data for their operations.

Why use DIA's GNX API & price oracle?

DIA's GNX API and GNX Price Oracle offer a range of benefits for users in the blockchain ecosystem. These technologies provide accurate and reliable price data for cryptocurrencies and NFTs, ensuring that users have access to trustworthy information. One of the main advantages of using DIA's API or Price Oracle is the high level of customization available. These tools can be tailored to suit the specific needs of decentralized applications, allowing users to configure data sources, apply data cleaning filters, determine pricing methodologies, and set update mechanisms and frequencies. This customizability ensures that the data and oracle remain robust and resilient to market conditions, providing global and granular market prices. Transparency is another significant benefit of DIA's offerings. Their API and oracles provide full visibility into the entire data journey, instilling trust and confidence in the accuracy and reliability of the information provided. Additionally, DIA provides tracking and monitoring tools to closely monitor their oracle and API feeds, further enhancing transparency. By leveraging DIA's GNX API and GNX Price Oracle, users can access reliable and customizable data, empowering them to make informed decisions in the blockchain ecosystem.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.