On the 15th of October 2020, the DIA platform announced the launch of the DIA Labs. Decentralized Information Asset, DIA, is an open-source financial information platform using crypto incentives to source and validate data; market actors can supply, share, and utilize financial and digital asset data. On the other hand, DIA Labs is a grants and acceleration program designed to drive the development of proprietary and open-source building blocks for the DeFi ecosystem.
There is a rapid growth of the DeFi ecosystem triggered by the staggering numbers of lending protocols and equally a demand for critical building blocks development. DeFi ecosystem growth enhances transparent data provision and modules to enable inter-protocol and platform compatibility. The advancement of DeFi ecosystems also brings solutions in improving efficiency in data sourcing and delivery and innovative applications that depend on scalable and transparent data feeds.
Applications for the program are officially open and are accessible through the DIA Labs homepage. The accepted first set of projects will get communicated after an initial application phase of two months, and more additions to this new program will occur on an ongoing basis.
DIA Labs To Support Projects With Grants of Up to $ 250k
DIA Labs will accelerate the development of the DeFi ecosystem building blocks. DIA Labs will also support projects with various resources. The program’s resources are the financial backing of up to $ 250 000 for each project.
DIA Labs gets supported by a range of DeFi and crypto veterans. These mentors are Tamar Menteshashvil, Strategy and Corporate Development at Binance, and Eric Wang, Ecosystem Development Lead at Parity Technologies. The mentors also include Charlotte Kapoor, Head of Strategic Partnerships at Outlier Ventures, Simon Dedic, founder of the crypto VC Monrook Capital, and the digital asset research firm Blockfyre.
DIA Labs Supports Both Open-source and Proprietary Projects
DIA focuses on projects developing proprietary products and solutions besides the building blocks, which will be available for free. The program also supports open-source projects to promote a cooperative environment for the DeFi ecosystem.
According to the DIA, anyone, including individual builders, newly formed start-ups, scale-ups to industry associations, or even academic institutions, can apply to the program. Even though DIA outlines a variety of focus topics and the specific projects that would support its website, other proposals are welcomed when necessary.