PAR Stablecoin (PAR) API and Price Oracle

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PAR Stablecoin

PAR
$
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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0x6803...4703
Network
Blockchain network where the asset is deployed
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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.
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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 PAR Stablecoin (PAR)?

PAR Stablecoin (PAR) is a decentralized, algorithmic stablecoin built on the Ethereum blockchain. It aims to maintain price stability by using smart contracts to automatically adjust its supply in response to market demand. PAR was founded by anonymous developers and was launched in 2020. The naming origins of PAR are not explicitly mentioned. It is designed to provide a stable store of value and a medium of exchange within the decentralized finance (DeFi) ecosystem.

How does PAR Stablecoin work?

PAR Stablecoin is a decentralized stablecoin that operates on the Ethereum blockchain. It utilizes the underlying technology of blockchain oracles to maintain its stability. Blockchain oracles act as external information providers, supplying verified data from outside the blockchain to smart contracts.

To understand how PAR Stablecoin works, it's important to grasp the concept of stablecoins. Stablecoins are cryptocurrencies that aim to maintain a stable value by pegging it to other assets, such as fiat currencies or commodities. PAR Stablecoin achieves this by pegging its value to the price of the Swiss Franc (CHF).

The blockchain oracle used by PAR Stablecoin fetches real-time price data of CHF from various trusted sources. This data is then integrated into the smart contract governing the stablecoin's operation. The smart contract is designed to automatically adjust the supply of PAR Stablecoin based on the fluctuations in CHF price.

When the price of CHF increases, new PAR Stablecoins are minted to increase the supply and maintain the peg. Conversely, when the price of CHF decreases, PAR Stablecoins are burned to reduce the supply. This supply adjustment mechanism ensures that the value of PAR Stablecoin remains stable relative to CHF.

By leveraging blockchain technology and incorporating trustworthy external data, PAR Stablecoin provides users with a reliable and stable digital asset that can be used for various purposes such as payments, savings, and decentralized finance (DeFi) applications.

What are the benefits of PAR Stablecoin?

PAR Stablecoin offers several benefits compared to its direct competitors. One of the key advantages of PAR Stablecoin is its stability. PAR Stablecoin is designed to maintain a stable value against a specific asset, typically a national currency such as the US dollar. This stability makes it a reliable medium of exchange and a store of value, which is particularly useful for daily transactions and hedging against market volatility.

Another notable benefit of PAR Stablecoin is its transparency. PAR Stablecoin operates on a blockchain network, which means that all transactions and holdings are recorded on a public ledger. This enhances transparency and trust, as users can easily verify the supply and track the movement of PAR Stablecoin.

Furthermore, PAR Stablecoin offers decentralization. As a blockchain-based stablecoin, PAR Stablecoin operates without the need for intermediaries, such as banks or financial institutions. This decentralized nature eliminates counterparty risk and enhances security by reducing the reliance on a single entity.

Compared to its direct competitors, PAR Stablecoin distinguishes itself with its focus on regulatory compliance. PAR Stablecoin aims to adhere to applicable laws and regulations, which enhances its credibility and reduces the risk of regulatory scrutiny. This commitment to compliance can attract users and businesses who prioritize regulatory certainty.

Overall, PAR Stablecoin's stability, transparency, decentralization, and regulatory compliance are key benefits that set it apart from its direct competitors. These features make PAR Stablecoin an attractive option for individuals and businesses seeking a reliable and transparent digital asset for their transactions.

What is PAR Stablecoin used for?

PAR Stablecoin is a type of stablecoin that is pegged to the value of a specific asset or currency, typically a fiat currency like the US dollar. Stablecoins like PAR are designed to minimize price volatility and provide stability in the cryptocurrency market.

There are several common use cases for PAR Stablecoin. Firstly, it can be used as a medium of exchange within the blockchain ecosystem. Users can use PAR Stablecoin for everyday transactions, such as purchasing goods and services, without worrying about the price fluctuations commonly associated with other cryptocurrencies like Bitcoin or Ethereum.

Another common use case for PAR Stablecoin is as a store of value. Because PAR is pegged to a stable asset or currency, it can be used as a means to preserve wealth and hedge against volatility in the traditional financial market. This makes it an attractive option for individuals and businesses looking for a stable alternative to other cryptocurrencies.

One specific case where PAR Stablecoin can be particularly useful is in remittances. Traditional remittance methods are often slow and expensive, especially for international transfers. By using PAR Stablecoin, individuals can send money across borders quickly and at lower fees compared to traditional remittance channels. This can be especially beneficial for people in developing countries who rely on remittances from abroad for their daily livelihood.

Overall, PAR Stablecoin provides a stable and efficient means of conducting transactions, storing value, and facilitating remittances, offering a practical solution for those seeking stability and usability within the blockchain ecosystem.

What is DIA's PAR Stablecoin API?

DIA's PAR Stablecoin API is a part of their API endpoints that provide real-time price feeds for various crypto assets. These price feeds are constructed using raw data from over 85 on-chain and off-chain exchanges, resulting in a comprehensive and accurate representation of market prices. DIA's API endpoints offer both free and customizable options.

The free API endpoints are available for developers to test and access general price information. These endpoints are standardized and publicly accessible for informational purposes. However, for users who require more specific and tailored data feeds, DIA offers custom API configurations. These custom feeds can be adjusted according to the user's requirements, including sources, methodologies, and update mechanisms.

The custom feeds are designed to provide more flexibility and personalized data for users. They offer enhanced benefits and are particularly useful for applications in the blockchain ecosystem. Some potential use cases include derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and NFT-related applications such as peer-to-pool NFT lending, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

In summary, while DIA provides free API endpoints for developers to test, their custom feeds offer a higher level of customization and are better suited for specific needs. The API allows developers and users to access real-time price information to facilitate various applications in the DeFi and NFT ecosystems.

What is DIA's PAR Stablecoin price oracle?

DIA's PAR Stablecoin price oracle is a smart contract that provides real-time price feeds for crypto assets. With integration on over 35 layer 1 and layer 2 networks, DIA can deploy price oracles in various blockchains. These price feeds are constructed by aggregating data from over 85 on-chain and off-chain exchanges, resulting in reliable and accurate information.

While DIA's demo oracles are freely available for testing purposes in their documentation, they cannot be integrated into production applications. However, users can request custom price feed oracles tailored to their specific needs. DIA offers flexibility in terms of sources, methodologies, update mechanisms, and more for these custom feeds. To request a custom feed, users can reach out to DIA through Discord or Telegram.

The use cases for DIA's price oracles are extensive and span across the blockchain ecosystem. In the DeFi space, these oracles can be utilized for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the NFTfi sector, DIA's oracles can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

In the context of blockchain technology, a blockchain oracle refers to an external information provider that supplies verified data from outside the blockchain to smart contracts. This data is crucial for smart contracts to execute and interact with the real world, enabling a wide range of decentralized applications. DIA's custom oracles provide users with the ability to access precise and tailored price data, enhancing the efficiency and effectiveness of their blockchain-based projects.

Why use DIA's PAR API & price oracle?

DIA's PAR API and PAR Price Oracle offer a range of benefits for users in the blockchain ecosystem. One of the key advantages is the high level of customization available. Users can tailor each oracle and API endpoint to suit the specific needs of their decentralized applications. They can configure the data sources that make up the feed, apply data cleaning filters and pricing methodologies, and determine the update mechanisms and frequency. This ensures that the data and oracle remain robust and resilient in any market conditions, providing global and individual or cross-chain market prices.

Transparency is another major benefit of DIA's API and oracles. Users have full and granular visibility into the entire data journey. DIA also provides tracking and monitoring tools to closely observe the oracle and API feeds. This transparency helps build trust and confidence in the accuracy and reliability of the price data for cryptocurrencies and NFTs.

By leveraging DIA's technology, users gain access to accurate and reliable price data, while enjoying the flexibility to customize the data and oracle to their specific needs. This tailored solution ensures resilience to unique market conditions associated with chosen data sources. With transparency and monitoring tools, users can confidently rely on DIA's API and oracles for their blockchain applications.

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.