Search
K

Oracles

Access to high-fidelity data is a critical component of carrying out Hxro Network’s mission to deliver permissionless, real-time, derivatives and betting market infrastructure. Hxro Network relies on the following data oracles to source and aggregate accurate, real-time pricing data for all Hxro-powered markets:
Hxro Network uses Pyth oracle network to retrieve frequently stored price updates for perpetual and expiring futures markets. Specifically, Pyth oracle prices are consumed by Hxro Network’s risk engine to aid in the calculation of portfolio value and the determination of portfolio risk for trader accounts. Pyth oracle prices are also essential to Hxro’s Dexterity protocol as they are used in mark price derivations, price band enforcement, and many other ways.
Hxro's Dexterity protocol integrates with Switchboard to facilitate Zero-Day Futures (ZDFs) markets. ZDFs are futures contracts with a 25-hour expiration cycle; similar to expiring or perpetual futures, they can be traded both long and short during the life of the contract. Any open positions at expiration that are not closed or rolled will settle to USDC back to the traders account. This creates a hassle-free venue for short-term, intraday speculation, allowing traders and market makers to easily tap into any market without having to worry about being stuck in a position.
By leveraging Switchboard's robust data feeds, Dexterity sources pricing data for the underlying assets of ZDF contracts. The index prices are then used for calculation of settlement prices at contract expiry and funding rates for perpetual swaps.
Switchboard's customizable oracle empowers Dexterity to effortlessly tailor, build, and manage price feeds that bolster ZDF markets, granting them the flexibility and capacity to incorporate a diverse spectrum of underlying assets, ranging from major market assets to niche, long-tail assets. With the ability to define calculations, Dexterity can employ various price indicators beyond using instantaneous prices, such as TWAPs or VWAPs. With this, ZDF guarantees fair market valuation and safeguard against potential price manipulation attempts.
Custom oracle provider Jiritsu Network has created a flexible and robust price oracle solution uniquely tailored to the settlement needs of the Hxro Parimutuel Protocol.
The Jiritsu oracle fetches prices for coin pairs from multiple authoritative data sources at the precise time required by each parimutuel contest and posts the average price for each coin pair to a Solana on-chain program. A ZK consensus mechanism is applied across multiple nodes to verify that fetched prices are reliably reported and that the result was accurately computed. Anyone may repeat the process and verify any result at any time. This secure, off-chain process allows for maximum performance while ensuring accountability and fairness for Hxro’s on-chain parimutuel markets.
Last modified 1mo ago