Sentinel Chain Token (SENC) API and Price Oracle

Sentinel Chain 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 Sentinel Chain Token (SENC)?

Sentinel Chain Token (SENC) is a cryptocurrency designed to improve financial inclusion for unbanked communities and provide a secure platform for livestock asset financing. Founded in 2018 by Roy Lai, the token operates on the Ethereum blockchain, offering transparent and efficient transactions. It aims to connect rural economies by using blockchain technology to verify the ownership and value of livestock assets.

How does Sentinel Chain Token work?

The Sentinel Chain Token (SENC) operates on the blockchain technology, specifically on the Ethereum blockchain. Serving as the native cryptocurrency of the Sentinel Chain platform, SENC plays a vital role in facilitating transactions and incentivizing participants within the ecosystem.

The Sentinel Chain aims to address the financial inclusion gap for the unbanked and underbanked populations in emerging markets. By combining blockchain technology with real-world assets, the platform enables the creation of digital representations of livestock, such as cows, buffalo, and sheep, as collateral for financial services.

The process starts with the registration of livestock owners, who provide necessary identification and details about their animals. Upon verification, the animals are tokenized, and their digital representations are stored on the blockchain. These digital assets can then be used as collateral for loans, insurance, or other financial services.

The functionality of the Sentinel Chain Token revolves around its use as a medium of exchange within the ecosystem. Users can utilize SENC for transactions, paying fees, or staking to participate in the network's consensus mechanism. The transparency and immutability of the blockchain ensure the integrity and security of transactions.

Moreover, SENC can be earned by participants who contribute to the ecosystem, such as data providers, validators, or service providers. This incentivizes active participation and supports the growth and stability of the platform.

Overall, the Sentinel Chain Token leverages blockchain technology to empower the unbanked and underbanked populations by providing access to financial services using real-world assets as collateral.

What are the benefits of Sentinel Chain Token?

The Sentinel Chain Token (SENC) offers several benefits compared to its direct competitors. One of its key advantages is its ability to provide financial inclusion for unbanked or underbanked populations. By leveraging blockchain technology, SENC aims to provide access to financial services for those who are currently excluded from traditional banking systems.

Another advantage of SENC is its focus on agricultural assets. The token aims to unlock the value of livestock and agricultural assets by tokenizing them on the blockchain. This has the potential to create liquidity and enable asset-backed lending, benefiting farmers and other stakeholders in the agricultural industry.

Compared to its direct competitors, Sentinel Chain Token stands out for its commitment to transparency and trust. By utilizing blockchain technology, SENC ensures that all transactions and ownership records are immutable and verifiable. This can help prevent fraud and increase transparency in the agricultural value chain.

Additionally, SENC benefits from the security and efficiency provided by blockchain technology. By using smart contracts, the token can automate various processes, reducing the need for intermediaries and potentially lowering costs for users.

Overall, Sentinel Chain Token offers unique benefits such as financial inclusion, focus on agricultural assets, transparency, and the security of blockchain technology. These features set it apart from its direct competitors in the blockchain-based financial services and agricultural sectors.

What is Sentinel Chain Token used for?

The Sentinel Chain Token (SENC) serves various purposes within the Sentinel Chain ecosystem. It is primarily designed to facilitate financial inclusion for the unbanked population by leveraging blockchain technology.

One common use case of SENC is as a means of payment and collateral within the ecosystem. Users can utilize SENC to make transactions, pay for goods and services, and secure loans on the platform. The token acts as a bridge between the traditional financial system and the blockchain network, enabling individuals without access to traditional banking services to participate in economic activities.

Additionally, SENC plays a crucial role in combating fraud and ensuring transparency in livestock insurance. Livestock plays a vital role in the livelihoods of many individuals in emerging economies. However, the lack of accessible insurance options often leaves communities vulnerable to financial losses due to outbreaks of diseases or natural disasters.

By utilizing the Sentinel Chain platform and its underlying blockchain technology, livestock owners can purchase insurance coverage using SENC. When an insured event occurs, the claim is processed by smart contracts, and the payout is made in SENC. This eliminates the need for intermediaries and reduces the potential for fraud, providing a fair and efficient insurance solution for the unbanked population.

In summary, the Sentinel Chain Token (SENC) is essential for facilitating financial inclusion and enabling transactions, payments, and collateral within the Sentinel Chain ecosystem. One notable use case is its role in providing transparent and accessible insurance coverage for livestock owners in emerging economies.

What is DIA's Sentinel Chain Token API?

DIA's Sentinel Chain Token API is part of their robust suite of 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, ensuring the utmost accuracy and reliability. DIA stands out from other web3 data providers as they are capable of delivering data that others simply cannot.

While DIA does offer free API endpoints for developers to test, their true value lies in their fully customizable, custom feeds. These custom feeds allow users to tailor their API data feeds according to their specific requirements, including sources, methodologies, update mechanisms, and more. Users can request a custom feed by reaching out to DIA via Discord or Telegram.

The use cases for DIA's API are vast and varied within the blockchain ecosystem. For DeFi applications, DIA's API can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the realm of NFTfi applications, the API can be leveraged for peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

It's important to note that while DIA offers free API endpoints for informational purposes and testing, the custom feeds provide a much more valuable and tailored experience for users. These custom feeds enable users to have greater control and flexibility over their data sourcing and analysis. With DIA's Sentinel Chain Token API, developers and users can access real-time price feeds and unlock a world of possibilities within the evolving blockchain landscape.

What is DIA's Sentinel Chain Token price oracle?

DIA's Sentinel Chain Token price oracle is a smart contract that offers real-time price feeds for various crypto assets. DIA stands out by being integrated with more than 35 layer 1 and layer 2 networks, allowing them to deploy price oracles across multiple blockchains. To create their price feeds, DIA sources raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, providing a comprehensive and reliable data source.

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

DIA's price oracles have a wide range of use cases in the blockchain ecosystem. They can be employed in various DeFi applications such as derivatives, lending and borrowing markets, money markets, collateralized stablecoins, and synthetic asset issuances. Additionally, they can be utilized in NFTfi applications, including NFT lending, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

In the context of blockchain technology, an oracle refers to an external information provider that supplies verified data from the outside world to smart contracts. Oracles play a crucial role in blockchain systems, as they enable the integration of blockchain applications with real-world data, expanding their functionality and usefulness. DIA's custom oracles offer robust solutions for users seeking tailor-made price feeds for their specific needs.

Why use DIA's SENC API & price oracle?

DIA's SENC API and SENC Price Oracle offer a range of benefits for users in the blockchain ecosystem. 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 cryptocurrency in question is the high level of customisation available. Each oracle and API endpoint can be tailored to suit the specific needs of decentralised applications.

This customisation includes configuring the data sources that make up the price feed, applying data cleaning filters and pricing methodologies, and determining the frequency and update mechanisms for the feed. This ensures that the oracle and data remain robust and resilient to market conditions, providing both global market and specific individual or cross-chain market prices. The ability to customise the API and Oracle feeds ensures a tailored solution for every user.

Another significant benefit is the transparency provided by DIA's API and oracles. They offer full and granular transparency across the entire data journey, allowing users to track and monitor the oracle and API feeds closely. This transparency enhances trust and confidence in the data provided.

In summary, using DIA's SENC API and SENC Price Oracle offers the benefits of customisation, ensuring robustness and resilience to unique market conditions, as well as transparency throughout the data journey. These features make DIA's offerings valuable tools 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.