🔮Oracle

The Most Innovative Oracle System

What is a Distributed Signature-Based Oracle Network?

Oracle nodes are connected to the Pythnet price feed. The asset prices and other related data is signed and broadcasted directly to Tigris users, which is used to place market orders. This data consists of:

• Asset price

• Spread

• Timestamp

• Node address

• Market open/closed status

• Oracle signature

Upon placing a trade, price data and signature is included in the transaction input parameters, where the validity of the data and the signatures are verified on-chain. What does this mean for traders?

• Reliable prices. The moment you click the 'Open Trade' button, the asset price is locked in. This means there is no slippage in price, ever.

• Instant order execution. Unlike traditional oracle-callback solutions, which require at least two transactions (one to place an order, the other for settlement), all orders are executed instantly in only one transaction, so there is no need to wait for settlement at all.

• The speed of the platform is only limited by the speed of the blockchain being used.

Tigris order execution

Other protocols:

User places market order -> Order tx confirmed -> Keeper receives event (price stored here) -> Keeper executes order -> Order execution tx confirmed -> Position is opened

Tigris:

User sends signed order data to node off-chain -> Node places order on-chain (price stored here) -> Order tx confirmed -> Position is opened