DIA ARTs FAQ
What are DIA ARTs? How does ART staking work? Find here the most frequently asked questions about DIA Autonomous Right Tokens.
Refer to this short FAQ to answer the most common questions about ARTs. For additional information and discussion, please visit the DIA Telegram group.
Scroll down for Alpha Pools/ART staking related questions and answers.
What are DIA ARTs?
DIA Autonomous Rights Tokens, or ‘ARTs‘ for short, are NFTs that reference the data rights information of a certain data set (CryptoPunks metadata, BTC/USD price feed, etc). They also act as a key for smart contracts to be able to receive any given data feed (to build dApps).
What are sARTs?
sARTs represent a data source (e.g UniSwap) and the usage rights associated with the data provided by that source. Each sART is unique and each data source only has one sART.
What are dARTs?
dARTs are held by data users (dApps) and reference the right under which a dataset may be used. Anyone can mint a dART or sell/buy them on secondary markets like OpenSea.
What are DIA ARTs used for?
Every project using DIA data needs to hold the corresponding data feed dART. To do so, every project will need to mint an unranked (common) DIA dART of the desired data feed and integrate it in the smart contract of the dApp.
When minting a new dART, the contribution (100 DIA) goes to the ART Pool, growing its value as well as the claimable amount of the dART holders. Higher ranked dART holders can claim a higher amount.
What is the ART Pool and how does it work?
When a new dART is minted, besides the gas fees, 100 DIA are required and contributed to the dART Pool. The DIA Tokens are pooled in non-custodial wallets and distributed the following way:
- 30% are burned, designed to create long-term deflationary effects in DIA.
- 20% are transferred to the sART pool, to be claimed by the data sources.
- 50% are transferred to the dART pool, to be claimed by the dART holders.
What is the Genesis event?
During Launch Genesis, the first 150 ranked DIA dARTs were available to mint. These Genesis ARTs represent metadata of NFT/Metaverse projects such as CryptoPunks, Hashmasks, Bored Apes, etc.
All Genesis DIA ARTs have been minted, how can I get one?
DIA ARTs are now available on secondary markets such as OpenSea. Click here to go to OpenSea.
Are DIA ARTs audited?
Yes, refer to the following link to review the official DIA ART Smart Contract Audit.
Alpha Pools | ART Staking
Why use a layer 2 solution like Arbitrum?
Staking processes require many background transactions to be done, and given the soaring gas costs on the Ethereum Network, leveraging a scaling solution will increase the efficiency and reduce transaction costs.
What are the costs of bridging an ART to Arbitrum?
DIA will fund the costs of bridging the ARTs for the first time from Ethereum to Arbitrum and back. The gas fees on Ethereum will still need to be paid by the user.
Do I have to pay gas fees to stake my DIA ART (on Arbitrum)?
No, you don’t. The costs of staking and unstaking DIA ARTs will be free for the first time. To do this, DIA will calculate and airdrop to your wallet the $ARETH needed to stake, unstake as well as migrate back to ETH. We recommend directly staking your ARTs, as gas fees on Arbitrum might change in the future.
If you would like to stake/unstake your ARTs more than one time, you will need to pay the transaction costs yourself.
What transaction costs do I need to cover myself?
Users will only need to pay the entailing gas costs of approving and migrating ARTs on the Ethereum Network.
How much DIA will be allocated to the ART Alpha Pools?
A total of 100K DIA will be made available in the Alpha Pools. They will be periodically supplied to the smart contract of the Alpha Pool for security reasons. The tokens will be proportionally distributed to the users staking ARTs.
How much APY am I eligible for?
The APY for each ART rank continuously gets calculated on-chain and displayed in the ART Staking dashboard. In order to see the yields, you need to connect your MetaMask wallet and switch to the Arbitrum network.
The APY is dependent on the number, rank and duration of other staking ARTs, and of course the rank of the ART you stake. Note that the APY is only a snapshot of the time at which you view it and that it will change over time.
How do I claim the reward?
Once you are done staking, simply hit the unstake button on the Arbitrum Network and you will receive your DIA tokens on your Metamask Wallet, on the Arbitrum Network. If you would like to transfer your DIA tokens back to the Ethereum network, you can use a bridge.
When can I unlock my ART and claim the reward?
Users can stake and unstake their DIA ARTs at any time.
Is there a tutorial available for the staking process?
Yes, there is a walkthrough tutorial you can follow to learn how to migrate and stake your DIA ARTs. You will find the tutorial here.
I am new to DIA ARTs, how can I get started?
Learn more about DIA ARTs (Autonomous Right Tokens) by reading our explainer articles here and watching this video. If you have any questions, feel free to shoot us a message on the DIA Community telegram channel.
- ARTs reference individual data licenses including all relevant parameters required to define the license agreement, like duration, usage context etc.
- ARTs will act as a key for dApps (smart contracts) to access DIA oracles. They need to be held in a smart contract’s wallet to enable ingestion of DIA data by that smart contract.
- ARTs can be minted permissionlessly, removing the need for centralised administration.
- DIA ARTs use NFT technology. NFTs are the ideal technology to solve data rights challenges, as they enable permissionless on-chain tracking and management.
- DIA ARTs enable independent trading on secondary markets to improve and decentralise access to licenses.
- DIA ARTs incentivise the sourcing and provision of new datasets within the DIA ecosystem.
- Introducing DIA ARTs: Autonomous Rights Tokens: This piece first introduces DIA ARTs to enable distributed data rights management.
- DIA, the Metaverse Oracle — NFT Drop: This short piece introduces the first NFT/Metaverse ART Genesis drop.
- DIA ART Pools: This piece gives an overview of how ART pools work. Who gets what, how is it calculated and what is the background.
- Alpha Pools for DIA ART Holders: The DIA ART Alpha Pools are open for DIA ART holders, providing the first utility for early holders of ARTs. Learn how to stake your ARTs here.