Prismatic is proud to team up with Algoracle to bring reliable oracle services to the Algorand ecosystem.Zurich, March 7, 2022 — In addition to using Algoracle’s data feeds, Prismatic actively takes part in the decentralized community of Algoracle’s node operators and feed providers, which facilitate trusted, independent and real-time data feeds. The network itself has several layers of security mechanisms, verified by researchers, security auditors and community bounty hunters.
“We are excited to partner with Prismatic and provide oracle services to their application,” said Algoracle CEO Abdul Osman. “Strong partners like Prismatic will help to make the Algoracle network more secure by providing diversified services, such as running nodes and providing feeds.”
As the upcoming hub for decentralized autonomous organizations (DAO) on Algorand, Prismatic will provide treasury management and governance services in order to enable smooth and efficient business operations for Algoracle and other DAOs. Prismatic is proud to collaborate with the first Algorand-native oracle and contribute to the fast-growing decentralized finance (DeFi) ecosystem on Algorand.
“This collaboration is a powerful step forward for Algorand DeFi,” said Kyle Wang, founding partner of Valhalla Capital and strategic adviser to both companies. “Prismatic’s advanced DAO tooling capabilities and Algoracle’s reliable, trusted data feeds comprise the essential services that will pave the way for the following generations of DApps on Algorand to flourish.”
Algoracle is a unique, abstraction-layer, decentralized oracle network built on the Algorand blockchain. It enables universally connected, decentralized node networks to securely interact as independent sources to provide critical off-chain and real-time external data feeds that complex smart contracts need to become a strong form of digital agreement. Algoracle received the first “Oracle Supagrant” by the Algorand Foundation and won the Algorand Encode Hackathon in 2021.
Algoracle’s founder, Abdul Osman, is a veteran in bringing technological products from ideation to delivery to scale. His team brings a wide range of global technical depth and perspective. For more information on Algoracle, visit www.algoracle.ai or follow on Twitter and Discord.
Prismatic is the home base for DAOs on Algorand. DAOs are a way for individuals to coordinate around common goals. Using smart contracts, DAOs pool funds that are then governed on-chain through a trustless proposal system to allocate capital using predefined rules. The platform has three main functions: create a DAO, govern a DAO, and manage its treasury.
Natalie Salemink, founder and CEO of Prismatic and Forbes 30 Under 30 DACH, has been in the crypto space since 2015 and previously co-founded and contributed to numerous crypto startups across Australia, Switzerland and Singapore. The Prismatic team consists of highly experienced TEAL developers who have previously worked on some of the earliest decentralized applications on the Algorand blockchain. For more information on Prismatic, visit www.prismatic.fi or follow on Twitter and Discord.