MIP10c2-SP1 KNC/ETH Oracle Request

Introduction

  • What data should this Oracle provide?
    • KNC/ETH
  • What will this Oracle be used for?
    • It would be used as the sanity oracle for Kyber Dao in order to convert ETH to KNC to burn the KNC in a decentralized manner

Customer(s)

Whitelist

  • Kyber Network - <address to be whitelisted will be provided on the 7th of July when the new protocol smart contracts are deployed> - Medianizer

Requirements

For each address to be whitelisted: -

Is contract source code verified on etherscan? Yes

Is Oracle data used in a permissioned manner that would prevent parasitic behavior? - Yes

Is Oracle data written to storage? - No (kyber contracts will not store the price in ethereum storage, however, it could be in the logs)

If Oracle data is stored, is it stored in a private variable? - No

If Oracle data is stored, is the value accessible on-chain exclusively by the protocol? - No

4 Likes

Preamble

MIP10c3-SP#: 5
Author(s): Niklas Kunkel (@NiklasKunkel)
Contributors:
Type: Process Component
Oracle Team Name: Green
Status: Formal Submission
Date Proposed: 2020-07-15
Date Ratified: <yyyy-mm-dd>

Specification

Introduction

  • What data would this Oracle provide?
    KNC/ETH ratio

  • What would this Oracle be used for?
    It would be used as the sanity oracle for Kyber Dao in order to convert ETH to KNC to burn the KNC in a decentralized manner

  • General comments by Oracle Team
    The KNC/ETH Oracle if ratified would be a customer Oracle for Kyber Network. Kyber Network is a valud partner of the MakrDAO who was recently ratified by Maker Governance as a Light Feed providing data to the Maker Oracles.

Oracle Data Model

Source Asset Pair Quorum Feed Model Oracle Model
Binance KNC/BTC 13 median median
Coinbase KNC/USD
Huobi KNC/BTC
Kyber KNC/ETH
Upbit KNC/KRW

Oracle Supporting Data Model(s)

See existing Data Model for BTC/USD

Oracle Address

  • Medianizer - 0x21B633B4AE7c7F4A41bE3c367B7456130bD20bDd

Customer(s)

Whitelist

  • Kyber Network - TBD - Medianizer

Requirements

For each customer address to be whitelisted:
- Is the contract source code verified on etherscan? <yes/no>
- Isther Oracle data used in a permissioned manner that would prevent parasitic behavior? <yes/no>
- Is Oracle data written to storage? <yes/no>
- If Oracle data is stored, is it stored in a private variable? <yes/no>
- If Oracle data is stored, is the value accessible on-chain exclusively by the protocol? <yes/no>

Fee

  • Kyber Network - In accordance with the Responsible Oracle Migration Proposal, fees are waived for the first year and determined by MKR Governance after that.

Supported Tools

@DenizOmer

The Oracle Team has done the work required to create a KNC/ETH Oracle. However since no address to be whitelisted was provided we are unable to finish the Requirements section of MIP10c3-SP5. Please provide the address as soon as possible so the Oracle Team can complete this work.