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🏛 Classic Model

Pushing feeds on chain​

Although the pure on-demand fetching model (RedStone Core) is more efficient and scalable we acknowledge that some protocols may prefer to stick to a traditional design when data is pushed on-chain. This setup could be reasonable if:

  • There is an existing well-audited codebase and the team prefers not to make even tiny amendments
  • The protocol is deployed on a private network or a chain where the gas costs are minimal
  • The prices don't need to be updated too frequently
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RedStone Classic has a significant advantage over traditional push Oracles. Our modular design gives you a decisive voice on when and how the price is updated (with other Oracles you have to accept dictated parameters).

How RedStone Classic works​

This approach is built on top of the RedStone Core model maintaining the security of on-chain validation of data providers and timestamps.

The model consists of two main parts. The first one is the off-chain relayer responsible for pushing data on-chain in a customized way using environment variables. The second part is the on-chain contracts which enable storing prices and getting them through a familiar interface (e.g. the Chainlink Aggregator ). RedStone Classic can be used on all EVM-compatible L1s & L2s + Starknet + Fuel Network.

RedStone Classic diagram

Relayer​

The relayer is a service that works in a customizable way based on environment variables. It periodically checks a defined set of conditions, pushing the prices when they are satisfied. It is possible to pass multiple conditions to the UPDATE_CONDITIONS, then the relayer will work in the manner that if any conditions are met prices would be updated. Currently, two conditions are implemented:

  • a time condition described by UPDATE_PRICE_INTERVAL variable in milliseconds, which states how often prices should be updated (aka heartbeat), code

  • a value-deviation condition described by MIN_DEVIATION_PERCENTAGE variable which indicates how much value should change in order to trigger the price update, code.

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Relayers are permissionless and anyone could run the service as the data is eventually validated on-chain using conditions defined by the protocol stakeholders. Moreover, the relayers are designed to work in parallel and we recommend having multiple (ideally independent) instances to mitigate the risks of a single point of failure and censorship.

Contracts​

The on-chain relayer is based on the PriceFeedsAdapter contract which is responsible for:

  • storing all price feeds' symbols (mappings to RedStone dataFeedId),
  • storing price feeds values,
  • updating price feeds values in batch,
  • storing information regarding the round number and timestamp of the last update,
  • getting prices for multiple feeds' values in a single call.

Additionally, if the protocol wants to be 100% compatible with the Chainlink PriceFeed architecture, it's possible to deploy additional PriceFeed contracts to mimic this solution.

Environment variables​

VariableDescription
RELAYER_ITERATION_INTERVALTime interval in which the relayer tries to update prices
UPDATE_CONDITIONSArray of parameters that describes what decides if prices can be updated, currently acceptable parameters are 'time' and 'value-deviation'
UPDATE_PRICE_INTERVALTime interval that describes how often prices should be updated if UPDATE_CONDITIONS contains the "time" parameter
MIN_DEVIATION_PERCENTAGEMinimum deviation of the prices that triggers prices update if UPDATE_CONDITIONS contains "value-deviation"
RPC_URLURL of RPC for interaction with blockchain
CHAIN_NAMEChain name of the blockchain relayer should work on
CHAIN_IDChain id of the blockchain relayer should work on
PRIVATE_KEYPrivate key of the wallet with funds on a proper network to push prices to the adapter contract
ADAPTER_CONTRACT_ADDRESSAddress of the adapter contract deployed on a proper network
DATA_SERVICE_IDRedStone Wrapper parameter that describes what data services should be used to fetch the price
UNIQUE_SIGNERS_COUNTRedStone Wrapper parameter that describes how many unique signers should sign price data
DATA_FEEDSRedStone Wrapper parameter that describes what tokens will be used
CACHE_SERVICE_URLSRedStone Wrapper parameter that describes what cache services URLs will be used to fetch the price
GAS_LIMITGas limit used to push data to the price feed contract