Request Token (REQ) API and Price Oracle

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Request Token

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 Request Token (REQ)?

Request Token (REQ) is the native cryptocurrency of the Request Network, a decentralized payment system built on the Ethereum blockchain. Founded in 2017 by Christophe Lassuyt and Etienne Tatur, Request Network aims to streamline and simplify financial transactions by allowing users to create, exchange, and settle invoices in a secure and transparent manner. The token's name is derived from its purpose of facilitating requests for payment. REQ has a total supply of 1 billion tokens.

How does Request Token work?

Request Token (REQ) is a cryptocurrency token that operates on the Ethereum blockchain. It serves as a utility token within the Request Network, a decentralized network built on blockchain technology. The Request Network aims to enable efficient and transparent invoicing and payment processes.

The underlying technology behind Request Token is smart contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into the code. They automatically facilitate and verify the performance of the agreement without the need for intermediaries. In the case of Request Token, smart contracts are used to create a decentralized platform for financial transactions.

As for the blockchain used, Request Token operates on the Ethereum blockchain. Ethereum is a decentralized platform that enables the creation and execution of smart contracts. It provides a secure and trusted platform for the Request Network to operate on.

The functioning of Request Token involves various participants, including payers, payees, and auditors. When a payer initiates a payment request using Request Token, a smart contract is created to define the terms of the payment. Once the payment is made, the smart contract automatically executes the transaction, ensuring that both parties fulfill their obligations.

Additionally, auditors can verify and validate transactions on the Request Network to ensure transparency and accuracy. This adds an extra layer of trust to the financial transactions facilitated by Request Token.

Overall, Request Token leverages the power of smart contracts and the Ethereum blockchain to create a decentralized network for efficient and transparent financial transactions.

What are the benefits of Request Token?

Request Token offers several benefits compared to its direct competitors in the blockchain space.

One of the key advantages of Request Token is its focus on interoperability. Unlike its competitors, Request Token is designed to work seamlessly with various blockchain platforms, allowing for easy integration with smart contracts and decentralized applications (DApps). This interoperability makes it convenient for developers and users to access and utilize Request Token across different networks.

Another benefit of Request Token is its emphasis on privacy and security. Request Token implements advanced cryptographic techniques, ensuring the privacy and confidentiality of transactions. This is especially crucial for sensitive transactions that may involve personal or financial data.

Additionally, Request Token stands out for its low fees and fast transaction processing times. Its architecture is optimized to provide efficient and cost-effective transactions, making it an appealing choice for businesses and individuals looking for speedy and affordable payments.

Furthermore, Request Token boasts a robust and vibrant ecosystem. It has a dedicated community and a growing number of partnerships, expanding its potential use cases and paving the way for widespread adoption.

While there are other blockchain-based payment solutions available, Request Token's focus on interoperability, privacy, low fees, fast transactions, and an active ecosystem sets it apart from its direct competitors.

What is Request Token used for?

Request Token (REQ) is a cryptocurrency token that is used primarily in the Request Network, a decentralized network built on blockchain technology. The main purpose of the Request Token is to facilitate the creation and execution of requests for payment, as well as to incentivize participants in the network.

There are several common cases where Request Token is used. Firstly, it can be used as a medium of exchange for goods and services within the Request Network. This allows users to send and receive payments in a trustless and transparent manner, without the need for intermediaries such as banks or payment processors. Secondly, Request Tokens can be used for governance within the network, allowing token holders to participate in decision-making processes and shape the future development of the ecosystem.

One specific case where Request Token is utilized is in the context of invoice management. The Request Network enables individuals and businesses to create and manage invoices in a secure and automated way. By using Request Tokens, users can ensure that the payment terms and conditions specified in the invoices are executed accurately and efficiently. These tokens act as a form of collateral, guaranteeing that the payment will be made once the agreed-upon conditions are met. Furthermore, Request Tokens can also be used to incentivize timely payment, as discounts or rewards can be tied to the use of the token within the payment process.

In summary, Request Token serves as a means of exchange and governance within the Request Network, enabling secure and transparent payment processing, as well as facilitating automated invoice management.

What is DIA's Request Token API?

DIA's Request Token API is part of their comprehensive API endpoints that provide real-time price feeds of crypto assets. These price feeds are constructed using raw data from a vast network of over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in a highly reliable and comprehensive data source.

DIA offers both free API endpoints for developers to test and fully customizable, custom feeds. The free API endpoints are accessible on the asset's detail page in the DIA App and serve as a standardized format for developers to experiment with. However, it is the custom feeds that truly stand out.

Custom API data feeds offered by DIA allow users to tailor their configuration according to their specific needs. These 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.

The importance of these custom feeds cannot be overstated. They offer users the flexibility to design feeds that align with their unique requirements and preferences. This capability makes DIA's API highly valuable, especially for diverse applications in the blockchain ecosystem.

Some potential use cases for DIA's API include derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and numerous other applications in the DeFi and NFTfi sectors.

In summary, DIA's Request Token API provides users with a range of API endpoints, including customizable feeds that cater to their specific needs. The ability to tailor feeds is a standout feature, offering users the flexibility and reliability required to excel in the blockchain ecosystem.

What is DIA's Request Token price oracle?

DIA's Request Token price oracle is a smart contract that provides real-time price feeds of cryptocurrencies and NFTs. What sets DIA apart is its integration with over 35 layer 1 and layer 2 networks, enabling the deployment of price oracles across multiple blockchains. DIA's price feeds are constructed by aggregating data from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in a comprehensive and reliable data source.

While DIA offers demo oracles for developers to test in their documentation, these are strictly for testing purposes and cannot be integrated into production applications. However, if users require a custom configuration for a feed, DIA can create dedicated price feed oracles tailored to specific needs. These custom oracles can be customized in terms of sources, methodologies, update mechanisms, and more.

To request a custom feed, users can get in touch with DIA through Discord or Telegram. This emphasis on custom oracles highlights DIA's commitment to providing users with tailored and reliable price data for their specific requirements.

Blockchain oracles, in general, are external information providers that supply verified data from outside the blockchain to smart contracts. They serve as a bridge between the blockchain and the real world, enabling smart contracts to access and utilize off-chain data. DIA's price oracles play a crucial role in various applications within the blockchain ecosystem, including derivatives, lending and borrowing markets, stablecoin collateralization, synthetic asset issuance, and many more in the DeFi space. For NFTs, DIA's oracles can facilitate lending, on-chain derivatives, fractionalization, and other exciting possibilities.

In summary, DIA's Request Token price oracle offers real-time price feeds for cryptocurrencies and NFTs. While demo oracles are available for testing, the customization of feed configurations through DIA's dedicated price oracles makes them more suitable for users' specific needs. Users can request a custom feed by contacting DIA via Discord or Telegram.

Why use DIA's REQ API & price oracle?

DIA's REQ API and REQ 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. One of the key advantages of using DIA's API or Price Oracle for a specific token is the high level of customization available. This means that each oracle and API endpoint can be tailored to suit the specific needs of decentralized applications.

Users have the flexibility to configure various 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 the chosen data sources. It provides a tailored solution for every user, ensuring accurate and reliable data throughout the blockchain.

Another significant benefit of DIA's API and Oracle feeds is the transparency they provide. DIA ensures full and granular transparency throughout the entire data journey. Users can monitor and track the oracle and API feeds closely using the various tracking and monitoring tools provided.

In summary, the main benefits of using DIA's REQ API and REQ Price Oracle are the high level of customization available, ensuring resilience to unique market conditions, and the transparency provided throughout the data journey. These features make DIA's technology a valuable tool for accessing accurate and reliable price data 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.