A highly flexible permissionless oracle protocol
Tellor is a decentralized and permissionless oracle protocol for answering any question of any format on-chain. Data is provided by a network of reporters running Telliot, an open-source reporting client. The oracle mechanism works by using simple crypto-economic incentives to secure data through staking and dispute mechanisms, while the community is bound by a token which utilizes anonymous governance system and monetary policy to reward and motivate adoption and development of the network.
- BTC/USD, ETH/USD
- Tellor reporters monitor the DIVA subgraph for expired pools and submit values where the Tellor oracle was selected as the data provider.
- A value reported to the Tellor system is considered valid if it remains undisputed for at least 1 hour. After that delay, anyone can trigger the
setFinalReferenceValuefunction inside the oracle contract to push the value to the DIVA Protocol. Position token holders that are in the money are particularly incentivized to trigger that function.
- After the value has been pushed into DIVA Protocol, the payoffs per long and short position token are calculated and users can start redeeming their position tokens. The possibility to challenge the value inside DIVA Protocol is deactivated for this oracle.
- Position token holders can submit values themselves to the Tellor protocol.
- If the oracle doesn't report a value within the 24h submission window following pool expiration, DIVA's fallback provider will have 5 days to step in and report a value.
- If the fallback data provider fails to report a value, then the final value will default to inflection.
- Reporters may not report any values if the expected gas costs exceed the expected fee reward. In particular, this applies to pools with a low remaining collateral balance. In those cases, position token holders will be able report the values to the Tellor protocol via the DIVA App themselves.
- A wrong value is not disputed for more than 1 hour. Tellor's dispute system is considered robust enough to identify inaccurate value submission before the 1 hour delay expires. If the 1 hour delay turns out to be insufficient, DIVA governance can increase it up to 18 hours.