dApp name: Neokingdom DAO dApp website: neokingdom.org dApp overview: Good day. I am a developer at Neokingdom DAO.
We are building the technical and legal framework to allow companies of all kinds to run as DAOs. You can find more information at our website and on the introductory video of the EVMOS Hackaton we won a few months back Neokingdom DAO | Devpost
One of our use cases is to reward the DAO contributors with tokens at the end of each month. The contributors can decide to keep them as a form of long term investment (to sell later on the market or to gain dividends), or to sell them back to the DAO at the nominal value of 1EUR (we are a European company) in order to pay their bills.
There are no crypto EUR tokens on EVMOS, so we have to use USDC for this type of transaction. For that, it’s legally necessary though that we are able to convert the EUR reward in USDC value, for which we would need an Oracle.
We have build our own custom oracle, which is just a smart contract that we update with a script running on one of our servers, but on the long run it would be necessary that this feed is provided by a trustworthy decentralized entity, such as the DIA app.
For any question, I am happy to answer.
Best,
Nicola
Feed usage
Data type: Price feed Use case: Reward distribution in USDC (from EUR calculated rewards)
Specifications
Feed specification
Asset pair: EUR/USDC Sources: All available markets Methodology: Moving Average Frequency: - Window size: -
Oracle specification
Target chain: Evmos Update mechanism: Time based Threshold: 60min
You can query for assets by calling the read function getValue() with parameters such as “EUR/USD” or “USDC/USD”. It will return two values:
The price of the asset queried with 8 decimals
The unix timestamp of the last update
You can see Solidity and Vyper code integration examples here or use a dedicated DIA oracles integration library described in detail here.
Funding
Each deployed oracle has a separate gas wallet which is the only entity allowed to update oracle values based on selected parameters. To find out more information on how it works, visit the following link.
Please make sure to top up the gas wallet, as we only put in some gas to deploy and start the oracle.
your response and execution have both been blazing fast! It has been a pleasure to work with you.
As a follow-up, I want to announce that the oracle has been successfully integrated into NeokingdomDAO. We have made a test on Mainnet where I have offered 1 NEOK token that has been bought for the EUR/USDC exchange price enabled by your Oracle!
