Tethys is a blockchain oracle that provides reliable external data to smart contracts. It was founded in 2020 by an anonymous team. The oracle ensures the accuracy and security of data by aggregating information from various sources and validating it through consensus mechanisms. The name Tethys is derived from Greek mythology, where Tethys was the Titan goddess of fresh water and mother of the rivers and streams.
Tethys offers several benefits that set it apart from its direct competitors in the blockchain oracle space.
One of the key advantages of using Tethys is its strong data authentication and verification capabilities. Tethys leverages a decentralized network of trusted data providers that supply reliable and accurate information to the blockchain. This ensures that the data accessed by smart contracts is reliable and tamper-proof, reducing the risk of fraud or manipulation.
Compared to its competitors, Tethys also excels in terms of scalability and flexibility. It supports a wide range of data types and can handle large amounts of data, making it suitable for various use cases across industries. Moreover, Tethys provides customizable data feeds that allow users to select specific data points or create tailored feeds for their needs.
Another advantage of Tethys is its user-friendly interface and developer-friendly API documentation. The platform is designed to be intuitive and accessible, enabling developers to easily integrate Tethys into their applications. This streamlined integration process saves time and effort, making it an attractive choice for developers seeking efficient solutions.
Lastly, Tethys offers competitive pricing models and transparent fee structures. This ensures that users can access high-quality data at a reasonable cost, making it a cost-effective option for businesses and developers.
In summary, Tethys stands out among its direct competitors with its robust data authentication, scalability, flexibility, user-friendly interface, and transparent pricing. These features make it a compelling choice for blockchain projects in need of reliable and verifiable external data.
Tethys is a blockchain oracle that provides external data to smart contracts, ensuring that they have access to accurate and reliable information. The underlying technology behind Tethys consists of a decentralized network of nodes that are responsible for retrieving and verifying data from various sources. This network is built on top of a specific blockchain, which provides the necessary security and immutability for the oracle's operations.
The Tethys oracle utilizes a consensus mechanism to ensure the accuracy of the retrieved data. When a smart contract requests specific information, multiple nodes within the network independently fetch the data from various sources. These nodes then compare their findings and use a voting system to determine the most accurate and reliable data. The consensus is reached through a predefined consensus algorithm that weights the votes based on the reputation and reliability of each node.
Once a consensus is reached, the verified data is then securely transmitted to the smart contract, which can utilize it for various purposes such as executing conditional logic or triggering specific actions. The use of Tethys helps to eliminate the single point of failure and potential manipulation of data by providing a decentralized and trustless solution.
It's important to note that Tethys can be integrated with different blockchains, depending on the specific requirements of the project. This allows for interoperability and enables the oracle to serve a wide range of smart contracts across various blockchain ecosystems.
DIA employs a comprehensive approach to fetching trade data from various types of exchanges, including DeFi and NFT exchanges. The process varies depending on the type of exchange being referred to.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trade information from the exchange databases. This is achieved by leveraging REST APIs or WebSocket APIs provided by the exchanges. The frequency at which data is collected can vary, typically ranging from 1 to 7 seconds, depending on the exchange. This allows DIA to retrieve real-time trade data with high precision.
In the case of decentralized exchanges, DIA adopts a different approach. Instead of directly accessing exchange databases, DIA fetches data from various blockchains by subscribing to swap events in liquidity pools. This enables DIA to retrieve trading data directly from the blockchain itself, enhancing the accuracy and reliability of the data. Popular decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data by retrieving information from integrated marketplace smart contracts. The retrieval period typically ranges from 20 seconds to 1 minute, covering all NFT transactions happening in real-time. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.
DIA's approach to fetching trade data ensures a high level of accuracy and precision. By leveraging various methods and technologies, DIA is able to provide highly reliable and customizable price feeds for blockchain applications and smart contracts.
DIA uses a two-step process to compute trade data from Tethys and build price feed oracles for different types of exchanges, such as DeFi or NFT.
For DeFi exchanges, the first step involves data cleaning and outlier detection. This is crucial to ensure that trades with prices diverging from the current market price are excluded. DIA applies an Interquartile Range (IR) filter to remove outliers and trades that fall outside an acceptable range relative to the interquartile range. This step helps to avoid using data that is completely away from the median and maintains the accuracy of the price feed.
The second step is the application of price determination methodologies. DIA uses trade-based filters to calculate a single USD price value for each asset. One example of a methodology used is the Volume Weighted Average Price (VWAP), which takes into account the different volumes of trades. Another example is the Moving Average with Interquartile Range Filter (MAIR), which calculates the moving average price by weighting trades against their volume.
For NFT exchanges, the process is different. DIA determines the floor price of an NFT collection by processing the on-chain trade data in two steps. Firstly, the data goes through cleansing filters to exclude market outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point. DIA offers methodologies such as the Floor Price and Moving Average of Floor Price, which calculate the lowest sale price and the moving average of a collection's floor price, respectively.
These methodologies help provide realistic and reliable NFT floor prices while filtering out manipulative behavior, such as wash trading. DIA also offers customizable parameters for adjusting the length of the average or the size of the floor window to fit specific use cases. Additionally, DIA applies an interquartile range outlier detection filter to further enhance data accuracy.
By employing these processes and methodologies, DIA ensures the accuracy and reliability of its price feed oracles for both DeFi and NFT exchanges.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.