Oracle Pricing

NAVI Oracle source prices from a variety of Oracle pricing source providers such as Supra, Pyth, and CEX(Binance, OKX, Bybit, and Coinbase) and designed TWAP-style Oracle to ensure secure, reliable, and scalable price feeds for all supported assets.

These oracles ensure accurate pricing information, which is essential for determining collateral value and enforcing platform security mechanisms.

Considering also our interest in supporting exotic assets, and yield-bearing tokens, we plan as well on integration with a variety of DEXes and develop custom oracles for these assets.

NAVI also maintains a comprehensive alert and disaster recovery system layer on top of the oracle service. When the market experiences short-term significant fluctuations, NAVI defer price update to protect users' asset from liquidation.

Why NAVI maintains its own oracle system:

  1. Security: The current oracle retrieves prices from multiple dimensions, has a complete price alert system, and defers price updates during significant market fluctuations to prevent user liquidations.

  2. Stability: Besides the active oracle feeding prices, NAVI maintains backup oracles for quick switching in case of anomalies.

  3. Cost (labor and expenses): Initially, we didn't want to develop and maintain our oracle system, as the labor and capital costs are significantly higher compared to integrating third-party oracles. However, until the Sui ecosystem becomes robust and the used oracles pass our strict testing, we need to maintain our controllable oracle system.

  4. Transitional solution: Our current solution is not final. We are always monitoring usable oracles on Sui and have prepared a decentralized oracle integration plan. We will consider integrating multiple oracle solutions when the Sui ecosystem develops to a certain level and has reliable precedents. As a leading entity in the ecosystem, we must be responsible for user funds, preferring higher costs to prevent errors.

  5. Future Prospects: NAVI considers offering stable oracle services, launching NAVI Oracle services to reliable partners to contribute to the ecosystem.

More details to come.

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