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Commerce · August 14, 2019

PO

Price Oracle for Decentralized Finance Apps

We built a data feed oracle to write prices on-chain, and it’s live on the Ropsten test network! In Decentralized Finance (Defi), you can build your own financial instruments and you often need an oracle to write off-chain prices onto the blockchain. We built an oracle focused on data feeds because the current options are too expensive and slow for regularly, repeating data. This oracle is designed for price feeds and uses public key encryption to validate the data submitted is accurate. We modeled our oracle off of MakerDao and generalized the design to work with any datafeed. We’re…

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What it does

In the maker’s words, at launch

We built a data feed oracle to write prices on-chain, and it’s live on the Ropsten test network! In Decentralized Finance (Defi), you can build your own financial instruments and you often need an oracle to write off-chain prices onto the blockchain. We built an oracle focused on data feeds because the current options are too expensive and slow for regularly, repeating data. This oracle is designed for price feeds and uses public key encryption to validate the data submitted is accurate. We modeled our oracle off of MakerDao and generalized the design to work with any datafeed. We’re currently maintaining four datasets with ETH/USD, USDT/USD, PAX/USD, and DAI/USD. You can track the prices reported onchain with our dashboard: https://ropsten.dirtoracle.com/. Our smart contract is open sourced at https://github.com/dirtprotocol/dirtoracle. Check it out and we'd love to get your feedback!

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