Oracle Network

Accurate, USD-denominated price feeds for every asset type.

Overview

Oracles are required for blockchain systems to receive data about the world outside of the chain’s own transactions in consensus. This is a useful component for many systems, but Vaults require oracles specifically for a price feed of each of the assets accepted as a collateral type. Price feeds should be denominated in the asset that IST is pegged against (USD). The oracle network utilizes Chainlink’s open-source software. It’s architecture consists of two parts, the middleware that handles all data provider, node operator, and price feed logic, and the downstream Agoric-chain price aggregator smart contract that accepts and further aggregates the pricing which can then be utilized by downstream Inter Protocol applications such as Vaults and Liquidation Auctions.

Chain Price Aggregator
Chain Price Aggregator
A powerful Hardened JavaScript smart contract that streamlines on-chain price data for Vaults and Liquidation Auctions. Inspired by Ethereum's Chainlink Solidity Flux-Monitor, it calculates the final median on-chain price using data from Node Operators. Each feed comes with its own on-chain smart contract, and Node Operators receive invitations directly to their Agoric Smart Wallets. The Aggregator Contract ensures accurate, updated prices by requiring a minimum number of submissions and preventing network congestion. Say goodbye to outdated submissions, and embrace efficiency!
Middleware
Middleware
The middleware software enables the creation of Chainlink Jobs every minute without relying on cron jobs, allowing for customized inputs and effortless progress monitoring. Seamlessly receive results from the Chainlink node, query smart contracts for new rounds, and push price updates on-chain for an efficient and smooth experience.

How it works

Governance at Work

Governance at Work

Agoric BLD stakers are responsible for the genesis of the oracle network and the addition of new asset price feeds. With each new Vault asset proposal, BLD stakers will vote to integrate an accompanying price feed deployment to ensure a robust and reliable system.
Network Health

Network Health

The Economic Committee, in partnership with Simply Staking, takes charge of maintaining the oracle network's integrity, managing risk across the Inter Protocol, and coordinating with node operators. This dynamic collaboration empowers the Economic Committee to make informed decisions, such as changing the oracle network composition, adding or removing node operators, and eventually transferring governance to the oracle network itself.

Overview of System

A schematic showing how price feeds go from Data Providers to the Vaults application.

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Get Involved

Vaults and Liquidation Auctions are set to launch in Q2! Follow our social and community channels to stay up to date. Tip: Keep your eyes out for an upcoming community campaign!