we are tellorTellor is a permissionless oracle protocol that is live on mainnet Ethereum, Polygon and Harmony.
Deployments are currently in development for Algorand, Arbitrum and Cosmos.The Tellor Oracle ProtocolThe oracle problem is generally understood, but what constitutes a truly decentralized oracle solution?
We believe that for an oracle to be decentralized, it must be a protocol that provides data requested, broadcasted, and validated on-chain transparently. This system must minimize the need for trusting the data providers.
The Tellor oracle is driven by simple crypto-economic incentives leveraging the TRB token. Access to the Tellor oracle is open with no gatekeeping for provision or use of off-chain data.
How does it work?Video explainer:
https://youtu.be/cmrWrFtL0e8The system incentivizes data reporters by paying Tellor Tribute (TRB) Tokens to addresses that successfully record oracle data to the blockchain. Reporters must lock up a 100 TRB bond as collateral against “bad” or malicious data.
Tellor maintains open source reporting software called telliot that can be found here:
https://github.com/tellor-io/telliot-feed-examplesData feeds are referred to as query types in the Tellor system. Out of the box, telliot supports a limited set of query types. The list can be found here:
https://github.com/tellor-io/telliot-feed-examples/tree/main/src/telliot_feed_examples/feedsOther query (data) types can be added by the team, usually in a matter of days. Simply make a request in an issue in the dataSpecs GitHub repository similar to the example here:
https://github.com/tellor-io/dataSpecs/issues/24Incentives / autoPayOften the difference between a centralized product and a decentralized protocol comes down to incentives. The Tellor contracts provide a few different on-chain methods for incentivizing reporters to submit. These methods include time-based rewards, autoPay contracts, and tips.
The tellor contract on mainnet Ethereum pays out
time-based rewards that grow at a rate of 0.5 TRB every 5 minutes for the first reporter who submits.
autoPay is a system for creating and funding data feeds for use with Tellor. This contract can be used to configure trustless payments for reporters on the tellor network. Users can specify start times, intervals, size of payments, submission windows and more.
Documentation here:
https://github.com/tellor-io/autoPay In addition to time-based rewards and autoPay, the oracle contract has a
tip function that can be used to “pay tribute (TRB) to the oracle” (reporters) at any time to incentivize reporters to submit a specific query. This gives users a mechanism for getting data updated as quickly as needed. No matter how busy the ethereum network is, there is an on-chain trustless mechanism for getting the data updated.
The Dispute MechanismTellor uses a dispute mechanism to protect users against malicious miners. Any TRB holder/user may dispute a value if they believe that it is not correct or malicious.
The disputer must pay a dispute fee that is bonded for 48 hours while TRB holders vote on the dispute. If the dispute is supported, the disputer takes the reporter’s 100 TRB stake. If the dispute is challenged by the community, the miner receives the dispute fee.
FundingTellor had no ICO. Full time development is funded by a TRB dev share that is minted via governance vote at regular intervals.
Founding Team Members:Brenda Loya → CEO/ Developer: solidity. Background: Former economist for the US Government, Data Science & Statistics
Nicholas Fett → CTO / Developer: Go & solidity. Background: Economics, Regulation, Derivatives, and Machine Learning
Michael Zemrose → CSO / Strategist. Background: Business Consultant, Media Production
Important LinksWebsite:
tellor.ioThe code:
https://github.com/tellor-ioSocial MediaTwitter:
https://twitter.com/WeAreTellorDiscord:
https://discord.gg/kaMenz4ZVwYouTube Channel:
https://www.youtube.com/channel/UCJteW6bsm1wn34i2hSAZBiw