Oracle System
cypher will be leveraging both the switchboard and pyth network for the protocol’s oracle implementation. The oracles will be responsible for pulling off-chain or on-chain data, depending on the particular market and the lifecycle of said market. While a market is open for trading, an oracle will be utilized to ensure there is sufficient capital in the system for collateral, this will be for both minters collateral as well as margin accounts collateral.
At time of execution, an oracle will be utilized to ensure a market is financially settling to the appropriate price of the particular underlying that is represented by the given futures market. Settlement date of these derivative markets can be both event driven and predetermined prior to market initialization, but the oracle utilization at time of market expiry will remain the same.
In cases like pre-pubic IDO markets, the oracle will also need to pull the quantity of tokens outstanding once available.
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