INTRODUCTION
Protocol: Interlay
Website: https://www.interlay.io/
Integration: Interlay is a decentralized layer-1 network, powered by and optimized for Bitcoin. As a Polkadot parachain, Interlay achieves best-in-class Proof-of-Stake security and interoperability with Ethereum, Cosmos, and many more. DIA is providing the collateral value information.
Use case: Collateral value
REQUEST INFORMATION
Assets
| Asset Ticker | Asset Blockchain | Asset Address | Asset Markets Overview | Comments |
|---|---|---|---|---|
| iBTC | Interlay | N/A | BTC asset information | Collateral ratio driven price feed will be developed with BTC, DOT and other collaterals’ price as its core |
Methodology
- Measuring total collateral value against BTC value minted:
- if collateral value < iBTC (pegged to BTC) → adjustment of price
- Volume Weighted Average Price with Interquartile Range (VWAPIR) will be used to calculate the price of the collateral. Learn more about it here
- 60sec time window for trades aggregation will be applied to collateral tokens at each price update
- 30sec price update frequency will be applied
Technical instructions:
- total_backable = collateral_currencies.map(|currency| vaultRegistry.totalUserVaultCollateral[currency] / oracle.aggregate[currency]).sum();
total_issued = tokens.totalIssuance[IBTC];
assert!(total_issued < total_backable); - The collateral_currencies will be taken by iterating over the keys used in vaultRegistry.systemCollateralCeiling
DELIVERY INFORMATION
| Delivery Method | API feed |
|---|---|
| Is testnet deploy required? | No |
NOTES
Additional relevant information: N/A