Interlay | Asset Price

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