Satellites & Oracles
Guiding the Future of Decentralized Finance
Last updated
Guiding the Future of Decentralized Finance
Last updated
Satellites play an integral role in the Maven Finance ecosystem, functioning similarly to Validators in Proof-of-Stake blockchains.
Satellites have two main purposes: Governance Participation and Oracle Data Feed providers.
Users can operate a Maven Finance Satellite either by staking a security deposit in MVN, purchasable on the open market or earned through ecosystem participation.
The range of proposals that Satellites can also make is broad, extending from adjustments to the business logic & smart contract parameters such as the interest rates for loans to the creation and addition of new smart contracts to the Maven Finance ecosystem.
Satellites also serve as nodes for Maven Finance's decentralized oracle network, providing reliable data essential for the platform's operations to the wider ecosystem at large.
These important assets include MVRK, USDT, and wBTC.
Satellite delegations offer stakeholders a way to participate in the Maven Finance ecosystem without the need to set up their own Satellite. Stakeholders can freely delegate their sMVN tokens to a Satellite of their choice, with the liberty to re-delegate to another Satellite at any moment, penalty-free.
Stakeholders should be aware that re-delegation might cause them to miss out on the governance and oracle rewards for the ongoing cycle.
Importantly, Satellites do not have the authority to transfer or spend delegated MVN tokens. The total power of a Satellite to shape the governance decisions and voting outcomes is comprised of the Satellite's staked MVN, in addition to the number of delegated MVN tokens to a Satellite from stakeholders.
Beyond representation, Satellites enhance the platform's decentralization, contributing to the robustness and security of Maven Finance and the oracle network.
The distributed decision-making power reduces the risk of manipulation and ensures the platform's integrity.
To register as a Satellite, users are required to stake a minimum amount of MVN tokens, and provide some required information.
Thereafter, they will be able to vote for governance decisions from the next governance cycle onwards, as well as choose to operate oracle nodes to earn more rewards.
As the cornerstone of Maven Finance's , Satellites represent stakeholders in guiding the future and direction of the platform. Satellites exercise voting rights on behalf of their delegators, ensuring democratic participation. Delegators are able to change their Satellite delegation as described below.
