| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-21 | TWAP Price Feeds deployment | Approved | padzank (@padzank) | Deploy Optimism Uniswap V3 TWAP function in the PriceFeed.sol contract and enable market creation around the price feeds of Uniswap V3 pools on Optimism | https://discord.gg/rPpPcMXSeU | 2022-02-14 |
This TIP proposes to deploy Optimism Uniswap V3 TWAP function in the PriceFeed.sol contract and enable market creation around the price feeds of Uniswap V3 pools on Optimism
Thales has, so far, supported Chainlinks tamper-proof Data Feeds as exclusive on-chain feeds for resolving Thales markets. To add some more versatility to the Thales marketplace and expand its reach, this TIP proposes to integrate Optimism Uniswap V3 TWAP oracle into Thales and allow for creation of markets around any asset that has a pool on Uniswap V3 on Optimism.
The security and decentralization that Chainlink Data Feeds offer are crucial to the success of Thales that aims to provide its users an on-chain, permissionless, and non-custodial way to participate in the price and variable movements of various supported assets. While constantly communicating with Chainlink labs and frequently integrating novel Data Feeds from them that are viable for market creation, Thales is always looking to expand its capabilities and offer it's users novel markets in parallel.
As Uniswap V3 TWAP oracle offers on-chain data feeds around the price of pooled assets, it is a perfect fit for Thales to allow creation of exotic and volatile markets not yet offered by Chainlink on Optimism. Before deploying this type of market, however, there needs to be a thorough research of the amount of liquidity for a certain pool aimed to be deployed and risk assessment of the manipulation probability.
If the research shows that a certain TWAP feed:
- Has low risk of showing a nonfactual result
- It's not economically feasible to manipulate it's price feed for the goal of also manipulation Thales market resolution
(For example: Total pool liquidity of said asset is greater than a certain threshold and has low chance of being reduced while Thales market is in trading phase)
Then the said market can be put up to Thales Council vote to be deployed on the Thales marketplace.
This novel type of Data Feeds can also provide a powerful marketing tool when doing initiatives together with other protocols/projects that have assets pooled in Uniswap V3 protocol on Optimism.
- This TIP entails Thales ProtocolDAO to modify the PriceFeed.sol contract in the following way to the so it additionally integrates Uniswap V3 TWAP oracle on Optimism for market creation:
This integration would allow the PriceFeed.sol contract to take in any Uniswap V3 pool address and output the Time-weighted Averaged Price from that specific pool in the time interval chosen by the ProtocolDAO after researching the said pool and deriving the most optimal value.
n/a
n/a
n/a
Copyright and related rights waived via CC0.