Trace Token (TRAC) API and Price Oracle

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Trace 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 Trace Token (TRAC)?

Trace Token (TRAC) is a cryptocurrency token that operates on the Ethereum platform. It is designed to provide transparency and traceability in supply chain management. The token's purpose is to enable real-time tracking of products and their origins, ensuring authenticity and preventing counterfeiting. TRAC was founded in 2018 by Stefan Meyer, Tyler Mulvihill, and Pieter Vandevelde. The project was launched by the company OriginTrail. TRAC's name originates from its focus on traceability and transparency.

How does Trace Token work?

Trace Token is built on blockchain technology, specifically the Ethereum blockchain. As a blockchain-based platform, Trace Token operates on a decentralized network, ensuring transparency, immutability, and security.

At its core, Trace Token functions as a supply chain solution, enabling the tracking and tracing of products throughout their entire lifecycle. It provides a means to authenticate and verify the origin, quality, and integrity of goods, addressing issues such as counterfeit products or unregulated supply chains.

The underlying technology behind Trace Token involves the use of smart contracts. Smart contracts are self-executing agreements that automatically enforce the terms and conditions encoded within them. In the case of Trace Token, smart contracts facilitate the recording and sharing of information about products on the blockchain.

When a product is created, relevant details such as manufacturing processes, certifications, and logistics information are recorded on the Ethereum blockchain using Trace Token's smart contracts. This creates a permanent and tamper-proof record that can be accessed by any authorized parties.

Throughout the supply chain, various stakeholders such as manufacturers, distributors, and retailers can input and access information related to the product. This allows for real-time visibility and transparency, reducing the risk of fraud or manipulation.

Consumers can also benefit from Trace Token by easily verifying the authenticity and quality of products they purchase. By scanning a product's unique Trace Token QR code or identifier, consumers can access relevant information stored on the blockchain, giving them confidence in their purchase.

Overall, Trace Token leverages blockchain technology, specifically Ethereum, to enable secure and transparent supply chain management, with the aim of promoting trust and accountability in the global marketplace.

What are the benefits of Trace Token?

Trace Token offers several benefits compared to its direct competitors. One of the main advantages is its focus on traceability and transparency. Trace Token utilizes blockchain technology to track and record the entire lifecycle of a product, from production to consumption. This level of transparency helps to prevent fraud, counterfeiting, and ensures that consumers have access to genuine products.

In comparison to its direct competitors, Trace Token stands out due to its ability to integrate with existing systems seamlessly. Many other traceability solutions require significant modifications to existing infrastructure, which can be costly and time-consuming. Trace Token, on the other hand, offers flexible integration options, allowing businesses to adopt the technology without major disruptions.

Another key benefit of Trace Token is its ability to facilitate supply chain optimization. By providing real-time data on every step of the supply chain, businesses can identify bottlenecks, streamline processes, and reduce costs. This level of visibility enables companies to make informed decisions and optimize their operations for maximum efficiency.

Furthermore, Trace Token prioritizes data security and privacy. The use of blockchain technology ensures that information is securely stored and cannot be tampered with. This level of trust and integrity is crucial in industries where data privacy is a significant concern.

Overall, Trace Token offers a comprehensive and user-friendly solution for traceability and transparency in supply chains. Its benefits include seamless integration, supply chain optimization, data security, and privacy. When compared to its direct competitors, Trace Token's uniqueness lies in its ability to provide these advantages while minimizing disruption to existing systems.

What is Trace Token used for?

Trace Token is a cryptocurrency that serves various purposes within the blockchain ecosystem. It is primarily used as a utility token to facilitate transactions and interactions within a specific blockchain network. Users can utilize Trace Tokens to pay for goods and services, participate in decentralized applications (DApps), and stake tokens to support the network's security and governance.

One common use case for Trace Token is in supply chain management. With the transparency and immutability offered by blockchain technology, Trace Tokens can be used to track and verify the origins, authenticity, and movement of physical goods throughout the supply chain. By integrating Trace Tokens into the supply chain, businesses can enhance transparency, reduce counterfeit products, and ensure fair trade practices.

In addition to supply chain management, one specific use case for Trace Token is in carbon offsetting. As environmental concerns increase, blockchain technology is being leveraged to create decentralized solutions for carbon offsetting. Trace Tokens can be used to represent carbon credits, enabling individuals and organizations to offset their carbon emissions by purchasing and holding these tokens. This creates a decentralized marketplace for carbon credits, promoting environmental sustainability and incentivizing carbon reduction efforts.

Overall, Trace Token has the potential to revolutionize various industries by providing secure and transparent transactions, enabling supply chain visibility, and facilitating sustainable practices such as carbon offsetting. Its versatility and potential for real-world applications make it an essential part of the blockchain ecosystem.

What is DIA's Trace Token API?

DIA's Trace Token API is an essential tool for accessing real-time price feeds of various crypto assets. These price feeds are meticulously constructed by aggregating data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, providing a level of comprehensive coverage that sets DIA apart from other web3 data providers.

Now, let's delve into the availability of DIA's API endpoints. Developers can freely utilize the provided API endpoints for testing purposes. These API endpoints are available in a standardized format, easily accessible on the respective asset's detail page within the DIA App. However, the true power of DIA's API lies in its customizability. For users who require personalized configurations, DIA offers the service of building dedicated API price feeds tailored to specific needs. These custom feeds can be fine-tuned based on sources, methodologies, update mechanisms, and more.

The use cases for DIA's API are abundant within the blockchain ecosystem. DeFi applications such as derivatives, options and futures markets, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets can greatly benefit from the reliable and accurate price information provided by DIA. Similarly, NFTfi applications like peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization can also leverage DIA's API to enhance their functionality and user experience.

In conclusion, while DIA does provide free API endpoints for developers to test, the true value lies in the availability of custom feeds. These custom feeds allow for a tailored and optimized experience, enabling users to access data that specifically aligns with their unique requirements. Whether you are a DeFi enthusiast or exploring the NFTfi space, DIA's Trace Token API empowers developers with accurate and customizable price feeds to propel innovation and build exciting applications within the blockchain ecosystem.

Please note that an Application Programming Interface (API) is a set of predefined rules and protocols that enables different software applications to communicate and interact with each other. It allows developers to access specific functionalities or data from a service or platform in a standardized way, without needing to understand the underlying technical details. APIs serve as a bridge between different software systems, facilitating seamless integration and interaction.

What is DIA's Trace Token price oracle?

DIA's Trace Token price oracle is a powerful tool that provides real-time price feeds of cryptocurrencies and NFTs on various blockchains. DIA stands out from other web3 data providers as it can deploy price oracles on over 35 layer 1 and layer 2 networks, making it highly versatile.

To construct their price feeds, DIA sources raw data from more than 85 on-chain and off-chain exchanges, ensuring comprehensive coverage of billions of individual trades. This breadth of data allows DIA to deliver accurate and reliable price information that is essential for the blockchain ecosystem.

While DIA offers demo oracles for developers to test, these are solely for testing purposes and cannot be integrated into production applications. However, DIA's true strength lies in its ability to create custom price feed oracles. These custom oracles can be tailored to specific requirements, including sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA via Discord or Telegram.

The use cases for DIA's price oracles are extensive. In DeFi applications, they can be used for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi space, DIA's oracles can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and beyond.

In summary, DIA's Trace Token price oracle offers real-time price feeds for cryptocurrencies and NFTs across various blockchains. While demo oracles are available for testing, the true value lies in DIA's ability to build custom price feed oracles tailored to specific requirements. These oracles have a wide range of applications in both DeFi and NFTfi sectors, making DIA a valuable asset for users in the blockchain ecosystem.

Why use DIA's TRAC API & price oracle?

DIA's TRAC API and TRAC Price Oracle offer several benefits for users in the blockchain ecosystem. One of the main advantages is the high level of customization available. Users can tailor each oracle and API endpoint to meet the specific needs of their decentralized applications. This includes configuring the data sources, applying data cleaning filters and pricing methodologies, and determining the update mechanisms and frequency. By customizing these settings, the data and oracle remain robust and resilient to market conditions, providing accurate and reliable global market as well as specific individual or cross-chain market prices.

Transparency is another major advantage of using DIA's API and Oracle feeds. These tools offer full and granular transparency throughout the entire data journey. Users can clearly see how the data is sourced, cleaned, and processed, ensuring a trustworthy and reliable information flow.

To further enhance the user experience, DIA provides various tracking and monitoring tools for their oracles and API feeds. These tools enable users to closely monitor the performance and accuracy of the data, ensuring that they are always up to date with the latest information.

In summary, the benefit of using DIA's TRAC API and TRAC Price Oracle lies in the ability to customize the data sources and settings, resulting in a tailored solution for each user's specific needs. Additionally, the transparency and tracking tools offered by DIA provide assurance and trust in the accuracy and reliability of the data. By leveraging DIA's technology, users can access accurate and reliable price data for cryptocurrencies and NFTs, enhancing their overall experience 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.