Utrust Token (UTK) API and Price Oracle

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Utrust Token

UTK
$
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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0xdc9A...F99c
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 Utrust Token (UTK)?

Utrust Token (UTK) is a cryptocurrency designed to revolutionize online payments. It aims to bridge the gap between digital assets and real-world payments, offering a secure and convenient payment solution. UTK was founded in 2017 by Nuno Correia and Sanja Kon, with the goal of making cryptocurrency payments more accessible and user-friendly. Its name, Utrust, combines the words "universal" and "trust," emphasizing its commitment to providing a reliable payment system.

How does Utrust Token work?

The Utrust Token operates on the blockchain technology to facilitate secure and efficient transactions. It is built on the Ethereum blockchain, which is known for its smart contract capabilities and decentralized nature.

Utrust Token functions as a utility token within the Utrust platform, allowing users to transact and access various services. The token serves as a medium of exchange, providing liquidity and enabling seamless transactions within the Utrust ecosystem.

One of the core functionalities of Utrust Token is to offer discounts and provide incentives to users. Token holders can benefit from reduced fees and enjoy discounts on transactions made using Utrust’s payment gateway. This not only enhances the user experience but also encourages broader adoption of the platform.

Additionally, Utrust Token provides voting rights to its holders, allowing them to participate in the decision-making process within the Utrust community. This promotes a sense of community involvement and gives users a voice in shaping the future of the platform.

The Utrust Token leverages the transparency and security of blockchain technology to ensure the immutability and integrity of transactions. By utilizing smart contracts, Utrust Token enables trustless interactions, reducing the need for intermediaries and enhancing the overall efficiency of transactions.

In summary, the Utrust Token operates on the Ethereum blockchain, utilizing smart contracts to facilitate secure and transparent transactions. It serves as a utility token within the Utrust ecosystem, offering discounts, incentives, and voting rights to users.

What are the benefits of Utrust Token?

Utrust Token (UTK) offers several benefits that distinguish it from its direct competitors. These advantages contribute to its appeal within the blockchain ecosystem.

Firstly, UTK offers a secure and efficient payment solution. Its integration with leading blockchain platforms, such as Ethereum and Bitcoin, enables seamless transactions and eliminates intermediaries. This feature sets UTK apart from its competitors, as it ensures faster and more cost-effective payment processes.

Secondly, Utrust Token emphasizes buyer protection and dispute resolution. Its payment platform includes built-in buyer insurance, ensuring that consumers are protected against fraud and faulty transactions. This extra layer of security sets UTK apart from its rivals by instilling trust and confidence within the user base.

Furthermore, UTK aims for wider adoption by facilitating acceptance in mainstream commerce. By integrating with major e-commerce platforms, UTK allows users to transact with numerous merchants worldwide. This approach distinguishes UTK from its competitors by offering a broader range of applications and potential use cases.

Additionally, Utrust Token offers a rewards program that incentivizes users to hold and use UTK. By participating in this program, users can access exclusive discounts, promotions, and other benefits. This feature differentiates UTK from its direct competitors by providing additional value and incentives for users to engage with the ecosystem.

Overall, Utrust Token stands out from its direct competitors by providing a secure and efficient payment solution, prioritizing buyer protection, emphasizing mainstream adoption, and offering a rewards program. These advantages position UTK as a promising option within the blockchain market.

What is Utrust Token used for?

The Utrust Token (UTK) is used as the native cryptocurrency of the Utrust platform. Utrust is a blockchain-based payment gateway that aims to enable secure transactions for merchants and buyers around the world.

One common use case for UTK is within the Utrust payment ecosystem. Users can hold UTK tokens in their Utrust wallets and use them to make purchases with merchants that have integrated Utrust as a payment option. By using UTK, buyers can benefit from reduced fees and faster transaction times compared to traditional payment methods.

In addition to being a payment tool, UTK also plays a role in the platform's loyalty program. Users who hold and use UTK tokens within the Utrust ecosystem can earn rewards, such as special discounts or access to exclusive promotions. This incentivizes users to engage with the platform and encourages adoption of Utrust as a payment solution.

An interesting specific use case for UTK is in cross-border transactions. With traditional payment systems, cross-border transactions can be costly and time-consuming due to fees and delays associated with currency conversions. Utrust aims to solve this problem by using UTK as a borderless payment solution. By using UTK tokens, buyers can avoid traditional banking systems and their associated costs, making cross-border transactions more efficient and affordable.

Overall, UTK serves as a means of facilitating secure payments within the Utrust ecosystem and offers benefits such as lowered fees, faster transactions, and rewards for users.

What is DIA's Utrust Token API?

DIA's Utrust Token API is part of their extensive API offering, which provides real-time price feeds for various crypto assets. These price feeds are constructed by collecting data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in a comprehensive and reliable source of information.

DIA does offer free API endpoints for developers to test and access basic price feed data. These endpoints are publicly available and serve informational purposes. However, the true power of DIA's API lies in their customizability.

When users require a more tailored and specific data feed configuration, DIA offers dedicated API price feeds. These custom feeds can be personalized based on sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA through Discord or Telegram.

The use cases for DIA's API are vast and cover various aspects of the blockchain ecosystem. In DeFi applications, the price information from DIA's APIs can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the NFTfi space, DIA's API enables applications like peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and beyond.

Overall, DIA's Utrust Token API offers developers a powerful tool to access real-time price feeds for crypto assets, with the added benefit of customizable options for tailored data needs. This flexibility allows for the creation of innovative and specialized applications within the blockchain ecosystem.

What is DIA's Utrust Token price oracle?

DIA's Utrust Token price oracle is a smart contract that provides real-time price feeds of cryptocurrencies and other assets. DIA stands out by offering custom price feeds that can be tailored to the specific needs of users. These custom oracles can be configured according to the desired 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 are not only limited to a single blockchain but are integrated with 35+ layer 1 and layer 2 networks. This allows DIA to deploy price oracles on multiple blockchains, expanding their accessibility and usefulness.

To construct their price feeds, DIA gathers raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, monitoring billions of individual trades. This extensive data collection enables DIA to provide accurate and reliable price information that other web3 data providers may not be able to deliver.

While DIA does provide demo oracles for testing purposes, these cannot be used in production applications. The demo oracles can be found in DIA's documentation, available on their website. Developers can explore and experiment with these demo oracles to familiarize themselves with DIA's offerings.

DIA's price oracles have a range of use cases in the blockchain ecosystem. In DeFi, they can be utilized for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi space, they can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative applications.

In summary, DIA's Utrust Token price oracle offers customizability, reliability, and widespread integration, making it a valuable tool for developers and users in the blockchain space.

Why use DIA's UTK API & price oracle?

DIA's UTK API and UTK Price Oracle offer a multitude of benefits for users in the blockchain ecosystem. One of the key advantages is the high level of customisation available. Users can tailor each oracle and API endpoint to meet the specific needs of their decentralised applications. This includes customising data sources, applying data cleaning filters and pricing methodologies, and determining the update mechanisms and frequency of the feed. By doing so, DIA ensures that the data and oracle remain robust and resilient to market conditions, providing both global and specific market prices.

Transparency is another significant benefit of using DIA's API and Oracle feeds. DIA provides full and granular transparency throughout the entire data journey. Users have visibility into the data sources, filters applied, and update mechanisms used, increasing trust and confidence in the accuracy and reliability of the price data.

In addition, DIA offers various tracking and monitoring tools to closely monitor the oracle and API feeds. This enables users to stay informed and keep a close eye on the performance and reliability of the price data.

Overall, DIA's UTK API and UTK Price Oracle provide accurate price data, customisation options, transparency, and monitoring tools, making them valuable resources for users in the blockchain ecosystem.

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.