SOLAR (SOLAR) API and Price Oracle

SOLAR

SOLAR
$
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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2wmKXX...sw8g
Network
Blockchain network where the asset is deployed
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Solana
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 SOLAR (SOLAR)?

SOLAR (SOLAR) is a blockchain project aiming to revolutionize the renewable energy industry. It seeks to enable transparent and decentralized solar energy trading by utilizing blockchain technology. Founded in 2021 by a team of experts in the energy sector, SOLAR aims to reduce the reliance on traditional energy providers and promote sustainable and affordable energy solutions. The project's name, SOLAR, reflects its focus on solar energy and its commitment to a greener future.

How does SOLAR work?

SOLAR is a blockchain-based project that aims to transform the renewable energy sector by leveraging the power of blockchain technology. The underlying technology behind SOLAR is a decentralized application (dApp) built on the Ethereum blockchain. Ethereum is a popular blockchain platform that enables the creation of smart contracts.

The SOLAR dApp allows users to engage in peer-to-peer energy trading, which means that individuals or organizations can buy and sell excess solar energy directly to others in a trustless and transparent manner. This is made possible through the use of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code.

Here's how SOLAR works: Solar energy producers can install solar panels and generate excess energy. This surplus energy can be stored in batteries or fed back into the grid. Using the SOLAR dApp, these producers can list their excess energy for sale. On the other side, consumers who want to purchase renewable energy can browse the available listings and select the desired amount of energy.

Once a buyer and a seller agree on the terms, a smart contract is created and executed on the Ethereum blockchain. This ensures that both parties fulfill their obligations, and the energy transfer is recorded and verified on the blockchain.

By leveraging blockchain technology, SOLAR provides a decentralized and efficient platform for renewable energy trading, promoting sustainability and enabling individuals to have more control over their energy consumption.

What are the benefits of SOLAR?

SOLAR, or Solana, is a high-performance blockchain platform that offers several benefits compared to its direct competitors. One of the key advantages of SOLAR is its scalability. The network is designed to process a large number of transactions per second, making it suitable for applications that require high throughput, such as decentralized exchanges or real-time gaming.

Another significant benefit of SOLAR is its low transaction fees. Unlike some other blockchain platforms, SOLAR utilizes a Proof of Stake (PoS) consensus algorithm, which eliminates the need for expensive mining equipment and reduces energy consumption. As a result, users can perform transactions on the SOLAR network at a lower cost, making it more accessible for various use cases.

SOLAR also offers fast confirmation times, which is crucial for applications requiring near-instant transaction finality. With its unique architecture, SOLAR achieves confirmation times of a few seconds, allowing for an efficient and seamless user experience.

Compared to its direct competitors, such as Ethereum and Binance Smart Chain, SOLAR's scalability and low transaction fees give it a competitive edge. Ethereum, for example, has been facing scalability challenges, leading to high gas fees during periods of network congestion. In contrast, SOLAR's architecture and consensus mechanism allow it to handle a large number of transactions at a lower cost.

In summary, SOLAR provides scalability, low transaction fees, and fast confirmation times compared to its direct competitors. These benefits make it an attractive choice for developers and users seeking a high-performance blockchain platform.

What is SOLAR used for?

SOLAR is a blockchain project designed to facilitate decentralized finance (DeFi) applications and services. It is built on the Solana blockchain, which is known for its scalability and low transaction fees.

One common use case for SOLAR is as a means of value transfer. Users can send and receive SOLAR tokens securely and quickly, thanks to the high transaction throughput of the Solana blockchain. This makes it ideal for financial transactions, such as remittances, peer-to-peer transfers, and cross-border payments.

Another common use case for SOLAR is as a governance token. Holders of SOLAR tokens can participate in decision-making processes within the protocol. They can vote on proposals, contribute to consensus, and shape the future development of the ecosystem. This allows community members to have a say in the direction of the project and ensures a more decentralized and inclusive governance model.

One specific case where SOLAR is being utilized is in the creation and trading of decentralized derivatives. With SOLAR, developers can build decentralized applications (dApps) that enable users to create and trade various financial instruments, such as options, futures, and synthetic assets, without the need for intermediaries. This opens up new possibilities for financial innovation and democratizes access to these complex financial instruments.

Overall, SOLAR provides a scalable and low-cost infrastructure for DeFi applications, allowing for efficient value transfer and decentralized governance. Its use cases extend beyond traditional payment systems, enabling the creation of complex financial products on the blockchain.

What is DIA's SOLAR API?

DIA's SOLAR API is a powerful tool that provides real-time price feeds for various crypto assets. These price feeds are constructed using raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in highly reliable and accurate information. Unlike other web3 data providers, DIA's API endpoints offer a level of data accessibility that is unparalleled.

While DIA does provide free API endpoints for developers to test, their custom feeds are the true highlight. Custom API data feeds can be tailored to meet specific requirements, including sources, methodologies, update mechanisms, and more. To request a custom feed, developers can reach out to DIA via Discord or Telegram.

The use cases for DIA's API are extensive. In the DeFi ecosystem, the price information from DIA's API feeds can be utilized in various applications such as derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the NFTfi sector, the API feeds can enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative applications.

Overall, DIA's SOLAR API empowers developers to access up-to-date and accurate price data for crypto assets. While the free API endpoints are available for informational purposes and testing, the true value lies in the customizable custom feeds that cater to specific needs and use cases. This flexibility ensures that developers can obtain the data they require to build robust and tailored applications within the blockchain ecosystem.

What is DIA's SOLAR price oracle?

DIA's SOLAR price oracle is a smart contract that provides real-time price feeds of various crypto assets. What sets DIA apart is its integration with over 35 layer 1 and layer 2 networks, allowing it to deploy price oracles across multiple blockchains. The price feeds generated by DIA are constructed using raw data from more than 85 on-chain and off-chain exchanges, enabling accurate and reliable pricing information.

While DIA does offer (free) demo oracles for testing purposes, these cannot be integrated into production applications. However, DIA also offers the option for users to request custom configuration for their price feeds. These dedicated price feed oracles can be tailored to specific requirements, including sources, methodologies, and update mechanisms.

To request a custom feed, users can reach out to DIA through Discord or Telegram. This flexibility allows users to obtain the exact data they need for their applications, providing added value and customization.

DIA's price oracles have a wide range of use cases within the blockchain ecosystem. In the DeFi space, they 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 sector, DIA's price oracles enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

In the world of blockchain, an oracle acts as an external information provider that supplies verified data from outside the blockchain to smart contracts. It plays a crucial role in bringing real-world data into the blockchain environment, ensuring transparency and accuracy for decentralized applications.

To explore further details about DIA's price oracles and their offerings, interested individuals can refer to DIA's documentation available at https://docs.diadata.org/.

Why use DIA's SOLAR API & price oracle?

DIA's SOLAR API and SOLAR Price Oracle offer several significant benefits for users in the blockchain ecosystem. Firstly, these tools give users access to accurate and reliable price data for cryptocurrencies and NFTs. This ensures that users can make informed decisions based on real-time market information.

A key advantage of using DIA's API and Price Oracle is the high level of customizability they offer. Each oracle and API endpoint can be tailored to meet the specific needs of decentralized applications. Users have the flexibility to configure settings such as the data sources that contribute to the feed, the data cleaning filters, and the pricing methodologies used to determine price points. Additionally, users can choose the update mechanisms and frequency to ensure timely updates. Such customization ensures robustness and resilience to unique market conditions, providing a tailored solution for every user.

Transparency is another essential feature of DIA's API and Oracle feeds. DIA ensures full and granular transparency throughout the entire data journey. This means that users can track and verify the sources and processes involved in generating the data. Additionally, DIA provides various tracking and monitoring tools to closely monitor its oracle and API feeds, further enhancing transparency.

In summary, by leveraging DIA's SOLAR API and SOLAR Price Oracle, users gain access to accurate and customizable price data in the blockchain ecosystem. This enables them to make informed decisions and ensures transparency throughout the data journey. DIA's tools provide a reliable and tailored solution for users' data needs in the decentralized landscape.

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.