Adrastia Brings On-Chain Oracles to Evmos
With the recent integration of Adrastia’s oracle solution, the infrastructure offering on Evmos is growing stronger and more versatile to incubate a thriving DeFi ecosystem.
To unlock the power of many DeFi applications, a price data feed is required to monitor the value of various assets at any given time on other applications, especially exchanges. For instance, a money market like AAVE that enables peer-to-peer borrowing and lending uses price oracles so that the underlying protocol can value a user’s collateral and appropriately enable the user’s lending or borrowing.
The popular oracle solutions in DeFi today utilize a collective of price reporters. These are trusted participants of a network that report prices of various digital assets, employing individual and often opaque algorithms and sets of data to arrive at singular price points. The security of these oracle solutions relies on both the number of unique price reporters as well as the quality of their data. To remain secure, the majority of reporters have to both be honest and have secure and high-quality data.
Adrastia takes a unique approach in that, rather than having trusted price reporters post data on-chain, Adrastia autonomously and directly aggregates info from the top DEXes. Prices from individual DEXs are weighted by underlying liquidity to arrive at singular price points. Sourcing data from DEXs and doing calculations on-chain is superior in terms of security. As long as Adrastia has at least one honest updater node, it is expensive and difficult to manipulate the prices it reports.
Sourcing price feeds from DEXes like Uniswap is the most censorship-resistant and direct form of price discovery possible. However, many trading pairs in DEXes don’t have sufficient liquidity in these early days of DEX adoption. The lower liquidity that the DEX has, the more susceptible to manipulation it is. Adrastia, therefore, performs additional validation, utilizing many external data sources, to reduce the risk of price manipulation (the culprit for a number of exploits).
Adrastia’s ultimate goal is to provide a decentralized and permissionless oracle network that is secure, reliable, and easy to use. The team believes that anyone should be able to start a price feed for any asset by simply sending a transaction, provided there is enough DEX liquidity.
We’re excited to welcome Adrastia to Evmos as we seek to give developers powerful tools to build on the most cutting-edge EVM. We hope our community of builders appreciates this integration as much as we do. To learn more about Adrastia and get started using the oracle solution visit Adrastia.io.
Evmos is an Ethereum Virtual Machine–based blockchain in the Cosmos ecosystem and enables developers to launch apps that run smart contracts across any number of EVM- and Cosmos-based blockchains. It makes that process as simple and seamless as possible by allowing developers to continue creating apps in Solidity and Vyper like they’re accustomed to in the Ethereum ecosystem. Evmos opens a new frontier for blockchain applications, expanding the functionality of the EVM by enabling cross-chain applications that tap the liquidity and user bases of multiple blockchain ecosystems to provide a more unified experience.
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