Partnership with Zumer Protocol

Zumer Protocol is a non-custodial liquidity protocol with a novel credit and liquidity risk management mechanism to allow permissionless loan origination and BNPL for all kinds of NFT assets by segregating different risks to different liquidity providers. Zumer is built by Sumeria Labs.

Zumer aims to be the new standard for DeFi protocols that focus on offering liquidity to the NFT market, creating a fully decentralized financial system for the Metaverse assets. Zumer’s end goal is to let everyone be the central banker, banker, and investment banker of the Zumer ecosystem, allowing all stakeholders including DAOs, NFT projects, Gaming guilds to determine interest rates, perform QE/QT, offer liquidity and underwrite credit risks.

We are delighted to announce that the Zumer Protocol has successfully integrated DIA’s NFT Floor Price oracle services into its testnet environment. This is an especially thrilling announcement as Sumeria Labs is the first user to test out the DIA xFloor product. The custom NFT floor price oracle will feed the Zumer protocol with accurate and timely NFT price feeds for various collections including Bored Ape Yacht Club, Crypto Punks, Mutant Ape Yacht Club and many more. The oracle will play a critical role in the operations of the liquidity protocol for collateralized lending of NFTs.

To effectively fulfil Zumer’s platform requirements, DIA built a unique and tailor-made oracle, deployed on Ethereum Rinkeby Testnet. To come up with the final floor price, the oracle fetches data from Opensea, using a 30-day time-weighted average of floor price methodology. The oracle is set to trigger updates and send price data to the Zumer protocol’s smart contract via time and deviation-based mechanisms.

To see all the specific processing requirements Zumer requested, visit the CDR #010: Zumer in the DIA DAO Forum.