Oracle Infrastructure: Chainlink Proposal

Ideas
52

After discussing the proposal with Robert, we have come up with an adjusted plan that he, Polychain, and blck will support.

The high-level idea is:

  1. We are going to use the main Chainlink oracles instead of building our own.

  2. The Uniswap anchor will be tightened to 15%. (I am going to do some research, but 15% is what we’re going with as of now)

  3. USDC and USDT are going to be continued to be pegged at 1. If someone wants to use USDT as collateral in the future, they will need to add an oracle.

  4. If a Chainlink price is outside of the anchor, it will not update. We will add an additional feature that will allow the community multisig to choose to use the Uniswap price.

The Chainlink team will get started on this change, and I’ll follow up with more details and docs as we have them.

Overall I think this is good news, and I am excited about the progress.

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