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Price Feed

Instant price feed​

To establish a most up-to-date price of assets for perpetual markets. Instead of relying completely on an on-chain oracle. We also leverage the price sources from centralized exchange. We are calculating the median price of an asset from top 5 centralized exchange: Binance, Coinbase, Kucoin, Kraken and Bybit.

We have an Outlier filter that eliminates bad prices from any exchange that falls too far from a certain threshold.

Additionally, A deviation threshold of 0.1% comparing to the ChainLink price oracle is configured in the PriceFeed smart contract, if the median price fall out of this deviation threshold, the keeper bots will not be able to update the price of an asset. This is a mechanism of the smart contract to prevent price manipulation.

Keeper bots will constantly update the price to the PriceFeed contract. In the worst scenario, if keepers couldn't update the price of an asset. Chainlink price will be used as a fallback.

Data quality​

In order for an oracle to give a trustworthy price feed, it is necessary to get prices from trustworthy sources.

Price source: We use the Websocket Price Feeds from top tier and most liquid centralized exchanges: Binance, Coinbase, Bybit, Kraken.. as the sources of the price data.There is already an ecosystem of oracles, market makers and traders that rely on an accurate data feed provided by these price feeds.

Off-chain filtering: Our price feed implements a filtering mechanism that rejects data points that significantly deviate from the expected volatility of each asset.

We use these price feeds from chainlink as fallbacks. More assets are being added.

PairAddress
BTC / USD0xAC15714c08986DACC0379193e22382736796496f
DAI / USD0x440bD1535a02243d72E0fEED45B137efcC98bF7e
ETH / USD0xcD2A119bD1F7DF95d706DE6F2057fDD45A0503E2
USDC / USD0xb85765935B4d9Ab6f841c9a00690Da5F34368bc0

Source: Base docs