Oracles

In MORE Markets, each market relies on an oracle contract to provide accurate asset pricing, which is essential for determining collateralization requirements. Unlike governance-driven systems where a specific oracle is selected through collective decision-making for each market, the choice of an oracle in MORE is determined by the market creator. This permissionless approach allows each market creator to define its own price feed sources, ensuring flexibility while maintaining reliable pricing mechanisms.

Types of Oracles Used in MORE Markets

MORE markets can integrate different types of oracle contracts, depending on the needs of the market creator. Two primary approaches are commonly used:

• Decentralized Price Feeds: These oracles aggregate price data from multiple sources to ensure accuracy and resilience against manipulation or outages. MORE is compatible with Chainlink out-of-the-box. Pyth oracles can be wrapped in the Pyth Scheduler to achieve compatibility with MORE.

• Correlated Asset Oracles: For assets closely tied to another asset’s value—such as wrapped tokens—correlated price oracles can be used. These oracles mirror the price movements of the underlying asset, providing an efficient and reliable way to track asset values without requiring independent price discovery.

Oracle contracts update price feeds based on predefined logic, such as time-based or deviation-based triggers, ensuring that market conditions remain up to date. Since the selection and implementation of an oracle are at the discretion of the market creator, MORE externalizes market management, where pricing mechanisms can adapt to different use cases without requiring centralized oversight.