Truflation Oracle Update [April 2022] — Detailed Report
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Due to Easter Holidays, we postponed this month’s update from the 15th to the 20th of April, 2022.
As every month, we’ve added some new data providers and adjusted our Truflation oracle model to further increase the data coverage, accuracy, and decentralization.
The new data lowered our inflation metric by -0.38%.
Index improvements
- 3 new data providers for food and rents (NielsenIQ, Zillow, and Trulia)
- +75million new SKUs (stock-keeping units), so the current total of ~100million SKUs
New data does not expand the CPI basket coverage based on the data categories and their relative importance because we add more data points and data providers to the categories we already covered. The basket coverage remains at 59.3%.
The final impact of the new data on the year-over-year inflation rate:
- - 0.38%
The rent data from Zillow and Trulia increased our inflation rate. However the food data from NielsenIQ resulted in the decrease of the final index.
We also recently obtained new demographic data and mortgages and property tax data. We are testing the datasets and brainstorming how to incorporate them into our calculations. They will be part of the May update.
Oracle improvements
We’ve activated and are testing BNB Chain and Polygon compatibility on our Oracle Node via applying Chainlink’s PegSwap service.
About Truflation
Truflation is a daily, unbiased, data-driven, real-market inflation rate available on-chain to DeFi products and Web3 applications. We aim to become a DAO-governed data provider for economic and finance indices on the blockchain.
