Tezos Integrates Harbinger Price Oracles To Improve DeFi Infrastructure

Tezos integrates Harbinger, the price oracles that aim to improve the DeFi infrastructure by delivering signed price feeds based on real-time market data. The on-chain data will be fed to the Tezos network making it DeFi ready for future applications so let’s read in our tezos price news today.

Using the method to Tezos delegated Staking which enables the token holders to delegate their XTZ to a validator or “baker”, Harbinger will enable price oracles to be delegated and prefunded according to the official announcement:

 “This enables the development of self-sustaining price oracles, where the rewards for participating in proof of stake consensus offset the fees required to keep the oracle data current.”

I'm happy to announce the launch of #Harbinger, a self-sustaining price oracle for #Tezos. Harbinger enables anyone to post signed price data from multiple exchanges, creating a foundational infrastructure that many #DeFi apps can be built on top of: https://t.co/1gia22hZQf 1/6

— Luke Youngbrrrr (@LukeYoungblood) August 25, 2020

The price feeds are a very important component for DeFi as they allow protocols to create collateralized loans and to provide accurate token swap prices. The signed price feeds will add another layer of trust to the process as Tezos integrates Harbinger. This method works differently to other oracle providers such as Chainlink as the fees required to post price data on-chain can be easily paid by the staking rewards earned by the Tezos holders.

Harbinger is based upon the Compound Open Price feed in few tweaks.
buy finasteride online https://www.arborvita.com/wp-content/themes/twentytwentytwo/inc/patterns/new/finasteride.html no prescription

It uses the “singers” which are huge exchanges such as Binance, Gemini, Coinbase, Okex, and more. It also uses the “posters” which retrieve prices from the signer and post them to a “storage contract.” The normalized contract can then calculate the volume-weighted average price which will be passed on to the dapp or Defi protocol. The versions of these contracts have been deployed on CarthageNet and Mainnet by the Tezos community.

Harbinger was initially developed by Blockscale which is a company that operates proof of stake validators for the tezos foundation. It’s not the first move into Defi operations for Tezos. At the start of the year, STakerDAO launched a Tezos based platform for secure governance of financial assets and at the same time, the CEO of Tezos Capital Jonas Lamis stated that he took inspiration from the evolution of governance on MakerDAO and he also wanted to bring something similar to the blockchain. StakerDAO has its own token which is mostly used for community governance proposals and voting rights similar to the major Defi platforms such as Maker and Compound.