Oracle reference node
The objective of this system is to provide on-chain price for our tokens in a trust-less decentralized manner.
We describe the different components involved in this system and their interaction.
This repository contains the Decentralized Oracle System's Oracle Reference Node which performs the off-chain part of the system. The on-chain part of this system is available at money-on-chain/OMoC-Decentralized-Oracle.
Smart Contracts: Which interfaces to register and approve Price Providers, start and close rounds, and publish price information on-chain by approved Price Providers.
Price Providers: Reference server implementation which will feed the contacts with price retrieved from exchange systems. It can determine the next price publisher, co-sign price publication messages, and call the smart contract interface to publish a new price. It is also responsible to keep the contract system running (schedules periodic tasks).
Supporters: A member willing to participate in the system only with its stake. By locking their funds for a period of time they can participate from the system earnings, fees and subsidy distribution.
WebDApp: An browser side application which interacts with the contracts and let you configure, monitor and operate the system.
Exchanges: External dependency to retrieve required prices from.
- development.md: How to run a local development environment.
- Docker: Docker container preparation scripts.
- docs: System documentation.
- scripts: A few scripts to retrieve system execution info from the blockchain allowing to examine system behavior.
- servers: The reference Oracle implementation along with the schedulers.
- servers/common: Python utility classes which will be used in the system.
- servers/oracle: The source code for the Oracle reference node itself.
- servers/scripts: Scripts to test servers and manually register, start round, etc... This is useful for the development environment.
- servers/delfos: Sets up a group of price feeders working together to test the system in a single machine.
OracleManager: Allows any blockchain user to register an oracle in the system and subscribe it as a price-provider for different coin-pairs.
CoinPairPrice (one per coinpair): This contract keeps the price and is responsible to receive and validate price updates provided. Also tracks providers participation in order to provide rewards.
Supporters: Will track stake-period contributed by supporters and will provide a reward in compensation.
CoinPairRegister: A contract to set up which coin-pairs will the system accept.
Governance: Control changes and upgrades over the contracts
Foundation will set up and deploy contracts and will provide theirs addresses for anyone willing to participate. When minimal participants join the contracts will be "started".
When a coinpair participants have reach a minimal number required to work, the 0-round will be manually started.
The CoinPair contracts work on a round-basis. The top N price-provider which contribute more stake will be selected to work at the begining of each round. Each round lasts one month and it is expected for the selected providers to work to do their job the whole time of the round. The round will end and a new round will be started automatically. When the new round begins a new provider selection will be made. During the round, each time a provider publish a pair-price to the contract, it will be accounted one point. At the same time, the contract will be receiving reward tokens which will be distributed at the end of the round proportionally to the points collected by each provider.
The price publishing or posting is made by turns. The turns are selected proportionally to the stake of the participants and is determined by the previous publication-block's hash. Each hash determines a particular participants order for next publication.
When to publish a price is determined by the price change from previous publication. If the expected participant don't publish for a defined period of blocks, the following in the order defined will be allowed to publish. And this fallback scheme repeats allowing multiple providers to take fallback turn in case of being required.
To publish a price it is required the consensus from half plus one of the round-selected providers. To ask for consensus, providers connects off-chain. Willing to publish provider will create a "publish-message" including block number, price to publish, etc., and will deliver it to other providers who will validate its content and return their signature. When enough signatures is received, "publish-message" and signatures is sent to contract which will verify the agreement and set the price in accordance.
Supporters do have a round-system too, but it is transparent for the users. Reward is collected all during a certain period, and after that it is assigned to current supporters according to their stake and will be all available for the user at the end of the following round. If the user decides to retire before it will receive a part proportional to how long it stayed in the system. Each participant registering a price-provider will automatically also be registered as supporter and will receive proportional support-rewards as any other supporter no matter if is selected as price-provider.