Religant

🗂️ Category:

🔮 Oracle

🎂 Founded:

01/10/2023

🌎 Website:

religantoracles.com

👾 Github:

github.com/mlabs-haskell/religant-integration-example

👥 Team:

Damon Zwarich

Status

💀

Religant is a decentralized oracle service designed to provide accurate and up-to-date price data feeds on the Radix network.

Functionality

The Religant Oracle protocol operates by aggregating data from various sources. A network of data nodes queries exchanges for current transaction data and submits this information to a contract. This contract employs a consensus mechanism to determine the aggregate price. Data nodes, running the Religant node backend software, update the feed at regular intervals or when the new aggregate price exceeds a specified divergence threshold, currently set at 2%. This threshold ensures that the rate from the Religant oracle's feed remains within 2% of actual transaction rates on exchanges.

Component API

The user-facing API of the Religant Oracle is straightforward, consisting of a single method, get_price, which returns a PriceData structure containing the current XRD/USD exchange rate and a timestamp. The Option wrapper in the return type ensures type safety, with the method usually returning a valid result after the initial round of Oracle feed aggregation.

Integration Guide

Integrating the Religant Oracle into an application requires several steps:

Defining the PriceData structure outside of the application blueprint, using various traits and types like ScryptoSbor, USDValue, and POSIXTime.
Declaring the component's API within the blueprint module using an extern_blueprint! macro.
Instantiating a reference to the global Religant component within the blueprint.
Using the Religant component's methods within the application, such as retrieving the current exchange rate and minting tokens based on this rate.