Top rated oracles and price feeds for SPL tokens

Governance
21

after fully integrating into Solana, they definitely would be a choice!

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22

I agree with @adamdelsol that a multi provider route is the most secure way to go.

Indeed it could be argued that every platform that makes use of an oracle service should be using at the very least 2 providers. Building on the ideas of others in this thread - if at least 3 are used then this allows for some kind of multi-sig fail-safe mechanism - whereby if the prices of one start to deviate significantly from the others then an alert can be raised/or response programmed in (the preferred option but not had time to think through properly about ways in which to do). An oracle for your oracles if you like :slight_smile:

I accept this is probably not standard practice and as @eyevzz points out this is what Chainlink does already. I am also ignorant of the costing implications, which may make such a route not an option. However, it would allow Jet to have a unique feature not used by any competitors (to my knowledge), and does provide protection against unforeseen events happening which addresses the single point of failure - well mostly!

Really like the Pyth project been following for a while and should be supported for obvious reasons but very hard to ignore Chainlink given the nature of the Jet Protocol, and I think they just announced they have released on devnet. I can only think that their spread across numerous other blockchains, again provides some support against single point of failure - for example where there is a problem with the Solana network itself - not that I am expecting one or can conceive of one right now :slight_smile:

1 Like
23

good point, and i also think a combination is optimal and the protocol should have failover oracles in place if thereā€™s a breakdown, though we chatted with Chainlink yesterday and they have an exclusivity clause and wouldnā€™t allow such an oracle arrangement

2 Likes
24

I like Pyth and it would be nice to support them, but it seems immature right now. They had the BTC price incident a month back as well as reporting negative price feeds for Solana a week or so ago.

If it is being used as a single source of truth, it seems too risky. Perhaps aggregating multiple sources like Coingecko/Bonfida/FTX, and add Pyth, then migrate to a fully decentralized solution once Pyth has been battle tested?