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Tezos improves DeFi infrastructure with Harbinger price oracles

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Popular staking platform Tezos has taken a step closer to decentralized finance with the integration of Harbinger price oracles.

Harbinger is a project that delivers signed price feeds based on real time market data from multiple exchanges. The on-chain data will be fed directly to the Tezos network making it ‘DeFi ready’ for future applications.

Using a similar method to Tezos delegated staking, which enables token holders to delegate their XTZ to a validator, or ‘baker’, Harbinger will enable price oracles to be delegated and prefunded. The official announcement explained further that;

“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.”

Price feeds are a critical component for DeFi as they allow protocols to create collateralized loans and provide accurate token swap prices. Additionally, cryptographically signed price feeds add a layer of trust to the process.

Harbinger works a little differently to other oracle providers such as Chainlink as the fees required to post price data on-chain can be paid by the staking rewards earned by Tezos holders.

Harbinger is based upon Compound’s Open Price Feed, with a few tweaks. It operates with ‘signers’ which are major exchanges such as Coinbase, Binance, Gemini, and OKEx, and ‘posters’ which retrieve prices from the signer and post them to a ‘storage contract’. A ‘normalizer contract’ then calculates a volume weighted average price which is passed on to the dApp or DeFi protocol. Initial versions of these contracts have already been deployed on CarthageNet and Mainnet by the Tezos community.

Harbinger has been developed by Blockscale, a firm that designs and operates proof of stake validators for the Tezos Foundation.

It’s not the first move into DeFi style operations for Tezos.Earlier this year StakerDAO launched, a Tezos based platform for secure governance of financial assets. At the time, CEO of Tezos Capital Jonas Lamis stated that he took inspiration from the evolution of governance on MakerDAO and wanted to bring something similar to Tezos.

StakerDAO has its own STKR security token which is used for community governance proposals and voting rights in a similar way to the major DeFi platforms such as Compound and Maker.



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DeFi and NFT crossover project Aavegotchi releases ‘Gotchiverse’ litepaper

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One of the original decentralized finance and nonfungible token (DeFi/NFTs) crossover projects is taking a step forward today with the launch of a metaverse litepaper.

Aavegotchi — a project that creates upgradeable NFTs backed by yield-bearing positions on lending platform and money market Aave — announced the publication of a litepaper devoted to a gamified metaverse called the “Gotchiverse.”

Aavegotchi co-founder Jesse Johnson joked about the sometimes-esoteric features and backstory in the litepaper on a celebratory Twitter Spaces today:

“This is not your typical litepaper, it’s got a lot of lore in it […] We’ve got a bit of a DeFi RPG in front of us.”

The metaverse will introduce a new, fungible ERC-20 token, the “Gotchus Alchemica,” which will be farmable from REALM land plots, themselves backed as NFTs — similar conceptually to Decentraland’s MANA/LAND two-token system. 

Alchemica can be used to craft upgrades to REALM plots, including structures like the “Gotchi Lodge,” which will enable groups of players to socialize as well as combine their farming efforts. Upgrades will take a “certain number of blockchain blocks to finish constructing,” but liquidity providers to Aavegotchi’s in-house AMM, the “Gotchus Alchemica Exchange,” can hasten the process with rewards for providing liquidity.

This gamified yield farming is woven into the Gotchiverse’s considerable lore and backstory — about a third of the 14-page litepaper is devoted to storytelling and fleshing out the universe. The antagonists of the game, the Liquidators, refer to actual liquidators on the lending platform Aave, and the universe is speckled with DeFi in-jokes — a “home base” area of the map is called the “Citaadel,” and types of Alchemica include “Fud,” “Kek,” and “Fomo.”

RELATED: Aavegotchis sell out in under one minute as NFT euphoria continues

Aside from the farming gameplay, Johnson said the map will be “a huge game of Pac-Man,” where Aavegotchi run/float around the map to collect Alchemica and return it to their REALMs before getting caught by Liquidators, which may be player-characters as well as AI. 

A full release date for the Gotchiverse is pending, though Johnson said sections will be released as early as Q3 2021. Johnson added that the team has grown to 20 full-time employees, including veteran video game industry talent.

While Johnson has long been a bannercarrier for DeFi and NFT crossovers, interest in metaverses has been picking up as of late. This month, Nvidia’s CEO said that we’re on the “cusp” of a blockchain-powered metaverse, and the founder of major gaming title Fortnite said that metaverse tech is “going places.”