Partnership with Rikkei Finance

DIA and Rikkei Finance announced today that the companies have entered into a strategic partnership that will allow Rikkei Finance to utilize DIA’s open-source oracles to enable safe and secure lending and borrowing of any digital assets on multi-chain.

Partnership with Rikkei Finance

Introducing Rikkei Finance

Rikkei Finance — RiFi in short, is a Web3 platform, encompassing a DeFi lending protocol and an NFT Marketplace; with a specific focus on NFT rentals and NFT-based lending and borrowing. RiFi’s expansive vision for its platform means digital assets across multiple blockchains can all be utilized; to be leveraged against or to be deposited in return for a yield, and all the while adhering to these key tenets: trustless, transparent and secure.

Rikkei Finance Partners with DIA

We are excited to announce DIA’s new collaboration and oracle integration with Rikkei Finance. With this new partnership, DIA will start delivering crowd-sourced data feeds to power the multi-chain DeFi protocol on the Astar Network. As oracles are a crucial part of lending protocols, DIA will play a critical role in the infrastructure of Rikkei Finance.

Rikkei Finance integrates DIA oracles on Astar Network

Price Oracles on Astar to Power DeFi Lending

To offer decentralized lending & borrowing services to users, Rikkei Finance requires access to accurate and trustworthy price feeds on-chain for its collateral assets pairs STR/ USD, ETH/ USD, USDC/ USD, and BTC/ USD. To serve these needs rightly, DIA has built customized oracle with price reference feeds by collecting granular data from multiple sources and applying cleansing and price determination methodologies. These tailor-made data processing operations will ensure not only accurate price points but also ensure not being exposed to flash loan attacks from bad market actors, common in Lending & Borrowing markets.

These requirements were transferred to DIA by submitting a DIA Custom Delivery Request (CDR) via the DIA DAO Forum and is publicly available to everyone. The Rikkei Finance CDR provides users with a level of transparency on how the price data feeding the protocol is built.

→ See CDR #012: Rikkei Finance

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