goStables Protocol currently receives offchain price feed data for the various currencies supported, from https://exchangerate.host/
Exchangerate.host sources its price data from financial data providers and banks, including the European Central Bank.
The off-chain price data is fetched via Exchangerate's API by the goStables' custom built node which automatically feeds the current market rates directly on-chain, for the relevant gStable, to gStableManager contract. This check currently occurs every 12 hours* on Tron Mainnet. If the rates have changed the contract is updated accordingly.
As the protocol grows, more nodes will be deployed that retrieves/publishes on-chain price data from multiple real world sources, increasing accurate real world price feeds on-chain as well as strengthening overall resiliency and reliability.
In the future when enough resources are available, the price feed nodes could be spun off into a separate product to service other projects that require on-chain data from off-chain sources.
*Will be modified to shorter time intervals in futuure once there are more energy resources available for cost efficient updates.
Last modified 19d ago