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Power Agent: Introduction
Price oracles are crucial to the viability and security of DeFi protocols.
For a very long time, even the largest projects used centralized oracles, the very idea of ​​which goes against the principles on which the crypto industry bases. Objectively, this was a forced measure because most of the trading took place on centralized exchanges. These restrictions led to the emergence of conventionally decentralized oracles like Chainlink and centralized oracles like MakerDao and Compound. Aside from centralization, the problem is the lack of economic benefit from independent agents for recording prices in any Price Oracle smart contract.
But, as soon as the trading volume and liquidity of decentralized exchanges became comparable to centralized ones, it became possible to use decentralized exchanges as the primary and most accurate market price source.
Power Agent can provide up-to-date information on market prices for any asset with sufficient liquidity on Uniswap and, at the same time, motivates independent participants to update price information for a reward.
Recorded prices soon will be available on sidechains such as xDAI, Matic, Binance Smart Chain, and others, making it easy to launch DeFI products on those chains.
Last modified 5mo ago
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