Oracles

Enjoyoors protocol requires up-to-date oracle prices to evaluate the collateral tokens and synthetic gigaAssets. Oracles will be integrated into the Orchestrator appchain. Enjoyoors will use several data sources, both public and private, to provide Orchestrator with timely information on collateral and synthetic debt assets. These sources include CeFi exchanges, DeFi exchanges, OTC markets, and our primary oracle providers (Pyth, ChainLink, and Redstone).

Available market data usually provides token prices in relation to USD or USD-pegged stablecoins. Enjoyoors implements adapters that price collateral tokens in corresponding synthetic debt assets and unify pricing and valuation across the system.

The price step and update frequency parametrize Oracle price feeds: By default, Enjoyoors will receive a price update that triggers Giga CDP re-evaluation every hour or if the token's price moves more than 1% (translating to ~ a 1% change in the LTV of the corresponding virtual market).