Polkalokr (LKR) API and Price Oracle

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For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
Blockchain network where the asset is deployed
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.
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
Volume 24h
Trades 24h
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Token information

What is Polkalokr (LKR)?

Polkalokr (LKR) is a multi-chain token locking and escrow platform. It aims to provide decentralized and secure locking services for tokens across different blockchains. The project was founded in 2021 by the Polkalokr team. The name "Polkalokr" combines "Polka" from Polkadot and "Lokr" meaning "keeper" or "guardian". Its purpose is to enhance security and trust in the DeFi ecosystem by offering a robust token locking and escrow solution.

How does Polkalokr work?

Polkalokr is a decentralized escrow platform built on the Polkadot blockchain network. It provides escrow services for various digital assets such as cryptocurrencies, NFTs, and other tokens. The underlying technology used by Polkalokr is blockchain oracles.

Blockchain oracles play a crucial role in Polkalokr's functioning by fetching and verifying external data and feeding it into smart contracts. These oracles ensure the accuracy and integrity of information required for escrow services.

When a transaction is initiated on Polkalokr, the smart contract requires certain conditions to be met before the release of the funds or assets. These conditions can be predefined by the involved parties, ensuring that both sides of the transaction are satisfied before the release. These conditions can include time-based triggers, consensus-based triggers, or evidence-based triggers.

The Polkalokr platform utilizes the Polkadot blockchain network for its operation. Polkadot is a scalable and interoperable blockchain that allows for the seamless transfer of assets between different chains. This means that Polkalokr can provide escrow services for tokens on various blockchains within the Polkadot ecosystem.

Polkalokr's functioning enables secure and transparent transactions by leveraging the power of blockchain technology and oracles. It ensures that the parties involved have confidence in the conditions and rules set for the release of assets, minimizing the risk of fraud and ensuring fair transactions.

What are the benefits of Polkalokr?

Polkalokr offers several benefits that set it apart from its direct competitors in the blockchain industry. One of the key advantages of Polkalokr is its innovative decentralized escrow protocol. This protocol allows users to securely lock their digital assets while executing transactions, mitigating the risks associated with fraud and scams. By combining decentralized finance (DeFi) and escrow services, Polkalokr provides users with a high level of security and trust in their transactions.

Furthermore, Polkalokr's multi-chain compatibility is another distinguishing feature. Unlike some of its direct competitors, Polkalokr is built on Polkadot, a robust multi-chain ecosystem. This enables seamless interoperability between different blockchains, offering users greater flexibility in their transactions. Additionally, Polkalokr's integration with Polkadot allows for enhanced scalability and lower transaction fees compared to some of its competitors.

Polkalokr also prioritizes community governance and inclusivity. Its decentralized governance approach ensures that the platform's development and decision-making process are transparent and inclusive. Users can actively participate in shaping the platform's future through voting and proposal mechanisms.

Overall, Polkalokr distinguishes itself from its direct competitors through its decentralized escrow protocol, multi-chain compatibility, and community governance. These features enhance security, scalability, and user participation, making Polkalokr an attractive option for individuals and businesses in the blockchain space.

What is Polkalokr used for?

Polkalokr is a blockchain project that aims to provide secure and flexible decentralized escrow services in the cryptocurrency space. The platform offers a trustless, non-custodial solution that enables users to engage in secure transactions with confidence.

Polkalokr addresses several common use cases in the cryptocurrency ecosystem. One common case is the execution of token swaps or peer-to-peer trades. With Polkalokr, users no longer have to rely on centralized exchanges or intermediaries to execute these transactions. Instead, they can establish trust and execute trades directly on the blockchain, leveraging smart contracts for transparency and security.

Another use case for Polkalokr is in the realm of Initial DEX Offerings (IDOs). IDOs have gained popularity in the crypto space as a means for emerging projects to secure funding. However, they can also be prone to scams and manipulation. Polkalokr addresses this issue by providing a decentralized escrow mechanism that ensures the funds raised during an IDO are released to the project's team only if predefined criteria are met. This helps protect investors from potential fraud and enhances the overall integrity of the fundraising process.

In one specific case, imagine a scenario where a new blockchain project is conducting an IDO. Investors are eager to participate but are concerned about the security and legitimacy of the project. By utilizing Polkalokr's escrow services, the project can create trust and reassure investors by locking the funds raised during the IDO in a smart contract. The funds will only be released to the project's team if specific milestones or conditions are met, such as the successful completion of key development milestones or the achievement of certain token performance metrics. This ensures that investor funds are protected and the project is held accountable for delivering on their promises.

Overall, Polkalokr provides a valuable solution in the realm of secure and transparent transactions in the cryptocurrency space, with the specific use case of enhancing trust and integrity in IDOs.

What is DIA's Polkalokr API?

DIA's Polkalokr API is a powerful tool for accessing real-time price feeds of various crypto assets. It forms part of DIA's broader range of API endpoints, which are designed to provide accurate and reliable data for developers. DIA's price feeds are created by aggregating data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges. This ensures that the feeds are comprehensive and reflect the true value of the assets.

While DIA does offer free API endpoints for developers to test, the real value lies in their custom feeds. These custom feeds can be tailored to meet specific requirements, allowing users to configure the sources, methodologies, and update mechanisms according to their needs. To request a custom feed, developers can reach out to DIA via platforms like Discord or Telegram.

The use cases for DIA's API are extensive and span across the blockchain ecosystem. These include applications in various DeFi sectors such as derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets. Additionally, DIA's API can also be applied in NFTfi areas like peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

In summary, while DIA does provide free API endpoints for informational purposes, the true value lies in the custom feeds that can be tailored to specific requirements. Developers can leverage DIA's API to access accurate price information for a wide range of crypto assets, enabling them to build innovative and efficient solutions within the blockchain ecosystem.

What is DIA's Polkalokr price oracle?

DIA's Polkalokr price oracle is a smart contract that offers real-time price feeds for cryptocurrencies and other digital assets. This oracle is integrated with over 35 layer 1 and layer 2 networks, giving it the ability to deploy price oracles on multiple blockchains. DIA's price feeds are created by aggregating data from more than 85 on-chain and off-chain exchanges, resulting in highly accurate and reliable information.

While DIA provides demo oracles for developers to test in their documentation, these are only for testing purposes and cannot be used in production applications. However, DIA offers custom price feed oracles that can be tailored to meet specific requirements. These custom feeds can be customized in terms of sources, methodologies, update mechanisms, and more. 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. In the DeFi space, they can be utilized for derivatives, options, futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. 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 similar applications.

A blockchain oracle, in general, is an external information provider that brings verified data from external sources to smart contracts on the blockchain. Oracles like DIA's Polkalokr price oracle enable the integration of real-world data into decentralized applications, enhancing their functionality and usability.

Overall, DIA's custom oracles offer users the flexibility to tailor price feeds to their specific needs, making them highly valuable for developers and businesses seeking accurate and customizable data for their blockchain projects.

Why use DIA's LKR API & price oracle?

DIA's LKR API and LKR Price Oracle offer a range of benefits for users in the blockchain ecosystem. By leveraging DIA's technology, users can access accurate and reliable price data for cryptocurrencies and NFTs.

The main advantage of using DIA's API or Price Oracle for the mentioned token is the high level of customization available. Each oracle and API endpoint can be tailored to suit the specific needs of decentralized applications. Users can configure settings such as the data sources that make up the feed, data cleaning filters, pricing methodologies, and update mechanisms. This customization ensures robustness and resilience to unique market conditions associated with chosen data sources, providing a tailored solution for every user.

Transparency is another major benefit of using DIA's API and Oracle feeds. DIA ensures full and granular transparency throughout the entire data journey. Users can closely track the oracle and API feeds with various tracking and monitoring tools provided by DIA.

Overall, DIA's LKR API and LKR Price Oracle provide users with accurate and customizable price data for cryptocurrencies and NFTs. The high level of customization allows users to adapt the feeds to their specific needs, while transparency ensures trust in the data. With these benefits, DIA's technology stands out as a valuable resource for users in the blockchain ecosystem.

Why use DIA data feeds and oracles?

DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
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.