Oracle Nodes

Accurate Price Data via Decentralized Price Feeds

Oracle Data Feeds

A key component of the Maven Finance ecosystem is the Oracle service, a system reliant on Satellites to provide precise and dependable pricing data for its collateral asset classes.

Operating within an oracle network, these Satellites are entrusted to deliver data feeds on the blockchain. Their mission is rewarded with sMVN tokens, incentivizing the supply of accurate data.

Data Feeds and Rounds

Data feeds are systematically arranged in rounds, triggered by a preset heartbeat, typically once every hour, or by a significant price deviation.

For instance, if the tracked price shifts more than 0.5% since the last update, a round is initiated. The primary aim of each round is to update the blockchain's relevant data feed, such as USD/MVRK.

Once a round commences, the Satellites, or oracles, collaborate off-chain to reach a consensus on the data to be sent to the blockchain.

This consensus usually takes the form of a median value derived from the price observations made by all participating oracles.

Thus, the Maven Finance Oracle Service ensures accurate, consistent, and timely updates to the asset pricing information integral to the platform's functions.