MIP10c3-SP3 Proposal: MANAUSD Oracle (Collateral Onboarding Oracle Assessment)

Preamble

MIP10c3-SP#: 3
Author(s): Niklas Kunkel (@NiklasKunkel)
Contributors:
Type: Process Component
Oracle Team Name: Green
Status: RFC
Date Proposed: 2020-07-08
Date Ratified: <yyyy-mm-dd>

Specification

Introduction

This Oracle would provide the MANA/USD price as part of the collateral onboarding process for MANA.

Oracle Data Model

|    Source    |  Asset Pair   |Quorum | Feed Model  | Oracle Model |
| :----------- | :------------ | :---: | :---------: | :----------: |
|   Binance    |    MANA/BTC   |   13  |    Median   |    Median    |
|   Bittrex    |    MANA/BTC   | 
|   Coinbase   |    MANA/USDC  |
|   Huobi      |    MANA/USDT  |
|   Upbit      |    MANA/KRW   |

Oracle Supporting Data Model(s)

USDT/USD

|    Source     |  Asset Pair   |  Feed Model  |
| :------------ | :------------ | :----------: | 
|   Binance     |    BTC/USDT   |    Median    |
|   BitFinex    |    BTC/USDT   |
|   Huobi       |    BTC/USDT   |
|   Kraken      |    USDT/USD   |
|   OKEx        |    BTC/USDT   |

USDC/USD

|    Source     |  Asset Pair   |  Feed Model  |
| :------------ | :------------ | :----------: | 
|       1       |    USDC/USD   |      N/A     |

KRW/USD

|          Source       |  Asset Pair   |  Feed Model  |
| :-------------------- | :------------ | :----------: | 
| European Central Bank |    KRW/USD    |      N/A     |

Oracle Address

  • Medianizer - Mainnet TBD
  • Oracle Security Module (OSM) - Mainnet TBD

Supported Tools

Remaining Work

  • Deploy and configure Medianizer and Oracle Security Module smart contracts to Mainnet
  • Coordinate Feeds to upgrade to latest release candidate
  • Push new relayer configuration with MANA/USD Medianizer smart contract address

Summary

MANA has a diverse set of exchanges to choose from enabling a robust Oracle. That being said, liquidity is quite low overall, leaving the door open for 3rd party manipulation of order books give enough capital. The liquidity profile will be monitored closely by the Oracle Team and the ensuing risks have been discussed with the Interim Risk Team.

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