SIP-99: Upgrade sOIL to use diversified Chainlink aggregator
| Author | |
|---|---|
| Status | Implemented |
| Type | Governance |
| Implementor | TBD |
| Release | TBD |
| Created | 2020-11-26 |
Simple Summary
Upgrade sOIL to track new price sources such as OTC desk trading.
Abstract
Aim is to diversify the amount of data sources we use for the oil feed in order to not rely on a limited number of data sources and help decentralize the reliability of the pair as a result.
Motivation
The current pair doesn’t rely on enough data sources we aim to improve this by working with Chainlink adding OTC trade data and deploying a new aggregator.
Specification
Change ExchangeRates to point to the new WTI Aggregator for sOIL will require these steps;
- Suspend sOIL, iOIL synths to pause trading
- Purge holders back to sUSD. sOIL ~$1500 in holdings, iOIL ~$7,400 in holdings
- Update ExchangeRates OIL aggregators
- v3 Aggregator Contract Address 0x2747254824f1731e016352e3267735fd9a6331C0
- v3 Proxy Contract Address 0xf3584F4dd3b467e73C2339EfD008665a70A4185c
- Set new Inverse Pricing based on current price data
- Unsuspend sOIL and iOIL to resume trading
Configurable Values (Via SCCP)
N/A
Copyright
Copyright and related rights waived via CC0.