I take it on this line do you imply “algorithmic” stablecoins? Versus collateralized secure cash.
stablecoins want an oracle for the worth of ETH/USD to have the ability to perform, they usually particularly want an oracle for USD the off-chain fiat asset, and never any particular on-chain instantiation of USD.
I’m with you on all the important thing factors as to what attributes an oracle wants, I’m unclear on why an authoritative physique wants to offer that info.
To me, uniswap is already offering oracle companies on algorithmic secure cash BY ITS VERY EXISTENCE. I can have a look at the Eth/$ (or rupee) worth of any of the secure cash swimming pools and immediately see how properly they’re doing relative to one another. I can then go to coinbase (or Google) and see how that compares with the off-chain marketplace for Eth.
I am nonetheless struggling for why a brand new oracle service is crucial within the first place. To supply info for brand spanking new artificial property, however what’s the “true” worth of that asset? If I create tokenized tsla, it’d not “actual” tsla, as a result of I am unable to vote with my share, I will not get a dividend, and so forth. With an oracle giving me info such that I can examine my “artificial tesla share” and a “actual tesla share”, what use case is open to me? I am in the end nonetheless betting on the worth of a share, somewhat then proudly owning an precise share.
Briefly, I feel the “true” worth is what somebody is prepared to pay on-chain. If eth is 5$ decrease on coinbase than it’s on-chain, they’re essentially totally different property. I am paying 5$ much less and I am getting an IOU (and the trade and I are saving gasoline charges)?