Community AMA, December 2023
Here is a recap of the December 2023 Community AMA, a monthly session where the DIA Team answers community questions and suggestions in the DIA Telegram Community Chat.
DIA is hosting a monthly Telegram AMA session with the core team. This monthly event aims to improve direct communication between DIA and its community by collecting community concerns and suggestions and having the DIA core team answer them.
Below is a recap of the December 2023 Community AMA on December 5th, 2023. We had Carl Bruns, Co-Founder & CMO, and Anze Noc, Community & DAO Lead at DIA in this Community AMA. Let’s take a look at what was discussed:
Can you share more details about the treasury proposal & what are the next steps for the community?
The annual treasury vote is a pivotal event for DIA, aimed at deciding the allocation of DIA’s reserve funds for the upcoming year. These funds are crucial for various aspects of DIA’s growth, including product development, marketing, community engagement, event participation, and more.
The core team has presented three distinct proposals for the community to deliberate and suggest alternatives. Given the current market uncertainties and the fact that last year’s released tokens are yet to be fully utilized, a conservative approach has been proposed for this year’s fund release, including an option of no release at all.
We’ve also received an alternative community proposal that proposes no token release in December but would use 91,5k DIA unused tokens from last year’s release to be airdropped to all DIA DAO voters in 2023.
The 4 proposals are now up for a vote on Snapshot. Community members can cast their votes using DIA tokens. Vote will be live for 7 days, voting ends next Monday at 3PM UTC.
I voted for the Mean Finance gasdrop proposal, are more of these planned for the future? How has the campaign affected DIA’s performance on Arbitrum so far?
The DIA Gasdrop, part of an Arbitrum grant program, has been instrumental in supporting developers by covering the gas costs associated with operating price oracles on the Arbitrum network.
Mean Finance received the Gasdrop after a unanimous vote in their favor, demonstrating the program’s appeal to dApps seeking an oracle partner and a frictionless builder experience on L1L2s. This initiative has significantly enhanced DIA’s integration and partnership prospects on the Arbitrum chain.
The Gasdrop program is ongoing, and any dApp deploying DIA oracles and meeting specific criteria is eligible to apply. The program details are available here. It’s been a successful strategy in expanding DIA’s presence on Arbitrum and assisting dApps in reducing operational costs.
I believe Defillma currently shows the incorrect number of protocol integrations for DIA. Do you have a plan to get it fixed?
We acknowledge the discrepancies in the data presented on Defillama regarding DIA’s protocol integrations. Our team is actively working with Defillama to ensure that as many of our partnerships as possible are accurately reflected in their Total Value Secured (TVS) metrics.
However, it’s important to note that some dApps and chains where DIA oracles are integrated are not currently tracked by Defillama and/or actively submitted or maintained by the respective teams. We are also aware of some inconsistencies in TVS data for other oracles. Our ongoing discussions with the Defillama team are focused on ensuring the most accurate and up-to-date representation of DIA oracles on their platform.
Is there a plan to revise the DIA tokenomics?
We have been working for the better part of 2023 on upgrading DIA’s infrastructure, enabling decentralisation of critical infrastructure components as well as including on-chain attestation mechanisms to facilitate a trustless data environment. This overhaul will enable a much more sustainable integration of tokenomics into our architecture.
While we are not in a position to divulge more details at this juncture, we assure the community that updates will be provided when appropriate and that this initiative is at the very top of our priority list.
Do you have short/mid/long term plan for advertising to let more people know of this project?
In the past year and a half, given the market downturn, we have adopted a conservative stance regarding marketing expenditures. Our focus has shifted towards building new products, enhancing our infrastructure, and generating valuable, educational content. We have also been actively engaging with the community through digital and in-person events.
We believe that advertising investments during bear markets do not yield the same level of impact as they would in bull markets. However, we are well-prepared to ramp up our advertising efforts when market conditions improve, ensuring that we capture the attention of Web3 enthusiasts and builders. Additionally, as we prepare for significant changes to our infrastructure and tokenomics, we plan to align some of our marketing activities with these developments.
Can you share some recap of the 2023 year for DIA? Was it a successful year in your opinion?
Reflecting on the year 2023, it’s clear that it has been a milestone year for DIA, characterized by a series of significant accomplishments and advancements.
Our efforts in expanding and integrating our infrastructure have been particularly successful, with new integrations on several key blockchains such as Base, Linea, Aleph Zero, and Boba Network. These integrations have been complemented by forming strategic partnerships with a variety of dApps, organizations, and protocols, including notable names like Dopex, Origin Protocol, and Silo Finance.
Our engagement with the Web3 community has been robust and dynamic. We’ve actively participated in numerous in-person events, which has been instrumental in establishing valuable connections with industry leaders. Additionally, our presence on social media platforms, particularly through hosting over 40 Twitter Spaces, has allowed us to cover various aspects of the Web3 space and engage with different teams and partners.
One of the most exciting developments of the year has been our work on a substantial update to our infrastructure. This update, coupled with a revamp of our tokenomics, is poised to be a significant growth driver for DIA in the future.
We’ve also seen the successful launch of new products, such as xLSD oracles and the Oracle Builder, which have been well-received by our community and partners.
Our digital presence has also seen considerable enhancements. The DIA website has undergone significant improvements in SEO, and we’ve migrated our blog to our website, alongside updates to the DIA App. These changes have been part of our broader strategy to enhance user experience and discoverability for the DIA brand and services.
The growth and engagement within our DAO community have been remarkable. We’ve successfully pushed numerous proposals through Snapshot, reflecting our community’s active participation and interest in shaping DIA’s future.
In terms of content production, we’ve created and shared a wealth of valuable resources, including the Liquid Staking Map and the Web3 Builder Hub, along with a variety of blog posts and other informative formats.
Looking ahead, we are preparing to release a series of yearly recap blog posts that will delve deeper into each of these areas. These posts will provide more detailed insights into our achievements and the strides we’ve made in 2023. We invite our community and interested parties to stay tuned for these updates, which will be available on our blog.
What are the main goals to achieve in 2024 and what initiatives can we expect?
Looking towards 2024, DIA remains committed to its mission of providing reliable, transparent, and trustworthy data to its partners and institutions.
Our primary objectives include integrating with new, significant, and trending blockchains and forming strategic partnerships with dApps on these networks.
Innovation remains a key focus, with the aim of developing products that cater to emerging trends in DeFi, NFTfi, and beyond.
Two major initiatives are at the forefront: restructuring our core product infrastructure to emphasize decentralization, transparency, and reliability, as well as implementing sensible tokenomic mechanisms. These initiatives are expected to fundamentally improve DIA’s operations and positioning, offering an innovative approach to oracle operations.
Our ongoing goals include increasing brand awareness, ensuring compliance with laws and regulations, building strong relationships across various verticals, and maintaining a focus on data reliability and safety.
What are some of the main IRL events you guys are planning to attend and potentially do an event similar to Infra Gardens?
Our focus for in-person events is primarily on conferences that cater to builders, developers, and infrastructure providers.
We are gearing up for ETH Denver at the end of February 2024 and ETH CC in Brussels. We are still finalizing our plans for these events, including the possibility of organizing another iteration of Infra Gardens.
Our objectives at these conferences include networking, strengthening relationships with L1 & L2 network teams and partners, staying abreast of new trends, and promoting DIA to a broad audience of builders, communities, and organizations.
More details about our future events will be shared in due course.