Oracles
Check out the oracle options available on GIWA.
What is an Oracle?
A blockchain oracle is a system that allows on-chain smart contracts to access data from the external world.
Since blockchains operate in a closed environment, they cannot directly retrieve off-chain information such as prices, weather data, exchange rates, or API responses. Therefore, for a smart contract to execute based on real-world information, it needs an oracle to deliver that data.
In other words, an oracle serves as a data bridge that connects on-chain and off-chain information.
Oracle Services Available on GIWA Sepolia
The information below is based on content provided by each service operator or sourced from third-party materials. It has been prepared using information we deemed reliable at the time of writing, but may contain inaccuracies or differ from the latest details. For more accurate and up-to-date information, please refer to the official website of each service provider.
Pyth Network
The Pyth Network the price layer of everything, delivering real-time data across a vast number of chains.
The network comprises some of the world’s largest exchanges, market makers, and financial services providers. These publish proprietary data on-chain for aggregation and distribution to smart contract applications.
Using Pyth Network
The Pyth introduces an innovative low-latency push and pull oracle design, where users can pull price updates on-chain when needed, enabling everyone in the on-chain environment to access that data point most efficiently.
Pyth network updates the prices every 400ms, making Pyth one of the fastest on-chain oracles.
Developers on GIWA have permissionless access to any of Pyth’s price feeds for equities, ETFs, commodities, foreign exchange pairs, and cryptocurrencies.
Developers on GIWA have to pass Pyth's contract address for GIWA mainnet/testnet and the desired price feed id to fetch the latest price.
We recommend following the consumer best practices when consuming Pyth data.
For more information, check out the official Pyth documentation. There are details on the various functions available for interacting with the Pyth smart contract in the API Reference section.
Using Pyth as a PUSH Oracle
Pyth Oracle can be used as a Push oracle by running a scheduler which can update the prices in the backend. It will make sure that the your dapp will be updated with latest prices as per your configuration.
Checkout the open source price pusher app to get started with the scheduler.
Developers and community
The Pyth network provides additional tools to developers, such as TradingView Integration, or the Gelato web3 functions.
RedStone Oracles
RedStone is a modular blockchain oracle protecting $10B of value onchain, specializing in yield-bearing assets for DeFi.
Trusted by both major institutional players and blue chip DeFi protocols such as Spark, Pendle, Morpho, Ethena, Compound, Euler and more. RedStone is also the official oracle provider for Securitize, providing price feeds for assets such as BlackRock BUIDL, VanEck VBILL or Apollo ACRED.
RedStone provides both the Push and Pull models on GIWA, delivering reliable and accurate data feeds.
Push Model
The Push model is widely adopted in blue-chip protocols such as Aave, Compound, Morpho.
RedStone provides an end to end Push model solution with no need to run any additional infrastructure - the price feeds are constantly updated in the price feed smart contract and can be queried directly onchain.
The integration process is straightforward which makes the Push model the best choice for most use cases. More information on how to start using it can be found in this guide.
For a list of supported assets on GIWA Sepolia as well as the price feed smart contract addresses, visit RedStone WebApp.
Using RedStone is free of charge for GIWA builders. If you would like to request more assets, please contact RedStone on the designated channel on Discord.
Pull Model
Pull oracle model offers a wide choice of assets with low latency of updates.
In the Pull model, the user delivers a data feed onchain together with its transaction.
GIWA builders can use 300+ feeds supported by the robust RedStone Pull model, including such assets as a wide array of RWAs, USDC, USDT, USDe and much more.
To integrate the Pull model, follow these steps and visit RedStone WebApp for the full list of supported feeds.
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