BitDAO (BIT) API and Price Oracle

BitDAO

BIT
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
?
0x1A4b...a4C5
Network
Blockchain network where the asset is deployed
?
Ethereum
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.
?
MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
?
120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
?
Source
Volume 24h
Trades 24h
Pairs
Get a custom BitDAO price oracle or API endpoint

DIA Oracle Builder [BETA]
Create and manage price oracles autonomously
  • Autonomously deploy oracles under 3 minutes
  • Select data sources, methodology & update triggers
  • Easily fund, edit and delete oracles
  • Management and monitoring dashboard
  • Available in 3 testnet chains
build your oracle
Request custom oracle
Request a fully tailored price oracle implementation
  • Autonomously deploy oracles under 3 minutes
  • Tailored oracles for any individual needs
  • Editable, updatable oracles
  • Real-time gas balance notifications
  • Available in 35+ chains
Start request process
Token information

What is BitDAO (BIT)?

BitDAO (BIT) is a decentralized autonomous organization (DAO) that aims to accelerate the growth of the decentralized finance (DeFi) ecosystem. It was founded in 2021 by a group of prominent DeFi investors including Peter Thiel's Founders Fund and Dragonfly Capital. The name "BitDAO" combines "Bit" from Bitcoin and "DAO" referring to decentralized autonomous organization. BitDAO intends to fund and support innovative projects in DeFi by pooling resources and allowing token holders to govern its operations.

How does BitDAO work?

BitDAO is a decentralized autonomous organization (DAO) that operates on the Ethereum blockchain. As a DAO, it is governed by a community of token holders who make decisions through voting. The underlying technology of BitDAO leverages smart contracts to facilitate its operations.

At the core of BitDAO is its governance structure, which allows token holders to participate in decision-making processes. Token holders can propose and vote on various initiatives, such as investment strategies, partnerships, and governance rules. Through this decentralized governance model, BitDAO aims to create a democratic and transparent platform for making collective decisions.

In terms of functionality, BitDAO focuses on providing funding and support to innovative blockchain projects. It aims to enable the growth and development of the decentralized finance (DeFi) ecosystem by investing in projects and protocols that align with its mission. By pooling resources and expertise, BitDAO acts as a powerful force, capable of funding projects that have the potential to transform the crypto industry.

Being built on the Ethereum blockchain, BitDAO benefits from the security, immutability, and interoperability provided by the Ethereum network. The Ethereum blockchain enables seamless integration with other DeFi protocols and enables BitDAO to leverage the extensive ecosystem of decentralized applications (dApps) and financial instruments.

Overall, BitDAO utilizes the Ethereum blockchain as the underlying technology to create a decentralized and community-governed organization. Through its governance structure, it empowers token holders to actively participate in decision-making processes, aiming to support and foster innovation within the DeFi ecosystem.

What are the benefits of BitDAO?

BitDAO offers several benefits compared to its direct competitors in the blockchain industry. One of the main advantages of BitDAO is its decentralized governance model. Unlike some of its competitors, BitDAO operates on a decentralized autonomous organization (DAO) structure, which gives token holders the power to govern and make decisions collectively. This ensures transparency, accountability, and eliminates the need for centralized intermediaries.

Another significant benefit of BitDAO is its focus on funding and supporting decentralized finance (DeFi) projects. BitDAO aims to provide financial resources and expertise to drive innovation in the DeFi space. By investing in promising projects and providing them with the necessary resources, BitDAO seeks to accelerate the growth of the DeFi ecosystem and drive broader adoption.

Furthermore, BitDAO stands out by offering a diverse range of services and features. Not only does it provide financial support to DeFi projects, but it also aims to foster collaboration and knowledge-sharing through its community-driven initiatives. By bringing together developers, researchers, and entrepreneurs, BitDAO strives to create a thriving ecosystem that encourages experimentation and innovation.

Compared to its direct competitors, BitDAO's decentralized governance, focus on DeFi, and comprehensive services give it a unique value proposition. While there are various other blockchain platforms and DAOs in the market, BitDAO's commitment to empowering the community and driving DeFi innovation make it a compelling choice for those seeking to participate in the decentralized finance revolution.

What is BitDAO used for?

BitDAO is a decentralized autonomous organization (DAO) that aims to support the growth and development of the decentralized finance (DeFi) ecosystem. As a DAO, BitDAO is governed by its community of token holders, who make decisions regarding the allocation of funds and the direction of the organization.

One of the primary use cases for BitDAO is funding projects and initiatives within the DeFi space. This can range from supporting the development of new protocols and platforms to providing liquidity and capital to existing projects. By investing in and supporting these projects, BitDAO aims to foster innovation and drive the adoption of DeFi solutions.

Another common use case for BitDAO is to act as a liquidity provider. DeFi platforms often require a significant amount of liquidity in order to function effectively. BitDAO can provide this liquidity by staking its tokens and earning rewards in various DeFi protocols. This helps to ensure that decentralized exchanges, lending platforms, and other DeFi applications have sufficient liquidity to support their users.

To elaborate on a specific case, BitDAO could be used to support the creation and development of a new decentralized lending protocol. By providing funding and resources, BitDAO could help to accelerate the development process and ensure the successful launch of the protocol. Once the protocol is live, BitDAO could also act as a liquidity provider, ensuring that the lending platform has ample liquidity to support borrowing and lending activities.

Overall, BitDAO is utilized to fund and support projects in the DeFi space while also providing liquidity to decentralized platforms. This helps to drive innovation and growth in the DeFi ecosystem.

What is DIA's BitDAO API?

DIA's BitDAO API is a powerful tool that provides real-time price feeds for various crypto assets. These price feeds are created by aggregating data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring comprehensive coverage. What sets DIA apart is their ability to deliver what other web3 data providers cannot.

DIA offers both free API endpoints for developers to test and fully customizable, custom feeds. While the free API endpoints are available for informational purposes and offer a simple way to test, the true value lies in the custom configuration that DIA provides. Custom API data feeds can be tailored according to specific requirements, including sources, methodologies, update mechanisms, and more.

Developers seeking custom feeds can reach out to DIA via Discord or Telegram to request a dedicated API price feed. These custom feeds have significant advantages over the free endpoints, as they offer more flexibility and personalized options.

The use cases for DIA's API are vast and diverse within the blockchain ecosystem. In the DeFi space, 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. Similarly, in NFTfi applications, DIA's API can support peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative use cases.

In summary, DIA's BitDAO API provides real-time price feeds for crypto assets sourced from numerous exchanges. While the free API endpoints are available for testing, the custom feeds offer personalized options tailored to specific needs. These custom configurations can be requested through Discord or Telegram. The use cases for DIA's API span various sectors within the blockchain ecosystem, enabling innovation and efficiency.

What is DIA's BitDAO price oracle?

DIA's BitDAO price oracle is a smart contract that offers real-time price feeds for various crypto assets. What sets DIA apart is its integration with over 35 layer 1 and layer 2 networks, allowing for the deployment of price oracles across multiple blockchains. These oracles are constructed using raw data sourced from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in highly reliable and accurate information.

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

The use cases for DIA's price oracles are extensive. They can be utilized in various DeFi applications such as derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the NFTfi space, DIA's oracles can support activities like peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

In the blockchain ecosystem, a blockchain oracle refers to an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles play a crucial role in connecting blockchain platforms with real-world data sources, enabling the execution of complex decentralized applications.

Overall, DIA's custom oracles offer significant flexibility for users to create tailored price feeds specific to their needs, enhancing their ability to build innovative and reliable applications within the blockchain space.

Why use DIA's BIT API & price oracle?

DIA's BIT API and BIT Price Oracle offer a range of benefits for users in the blockchain ecosystem. With DIA's technology, users can access accurate and reliable price data for cryptocurrencies and NFTs. The main advantage of these tools is the high level of customization available. Users can tailor each oracle and API endpoint to suit their specific needs. This includes configuration settings such as the data sources that make up the feed, the data cleaning filters, pricing methodologies, and the update mechanisms and frequency. This level of customization ensures that the data and oracle remain robust and resilient, adapting to unique market conditions.

Transparency is another major benefit of using DIA's API and Oracle feeds. They provide full and granular transparency across the entire data journey. This means users can see how the data is sourced, cleaned, and processed to generate the price points. DIA also provides tracking and monitoring tools to closely monitor the oracle and API feeds.

Overall, DIA's BIT API and BIT Price Oracle offer accurate and customizable price data for cryptocurrencies and NFTs, as well as transparency and monitoring tools. This ensures users have access to reliable information and can 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.