Tellor is an oracle protocol that is a transparent and permissionless way for smart contracts to easily get any data whenever they need it. We propose to bring over our crypto-economic system that will result in off-chain data being submitted on-chain with measurable security guarantees.
At a high level, Tellor is an oracle system where a staked set of “reporters” answer questions on-chain. To incentivize reporters, parties can use Tellor’s native token, “Tributes” (TRB), to “tip” a specific question or “query” they want updated, then reporters can choose whether the reward for fetching the data is worth the cost of placing the value on-chain. Multiple parties requiring the same data can tip the same query. The security of Tellor comes through a deposit of TRB that acts as a bond or stake requirement in order for reporters to participate in providing data. The reporters risk losing this stake if they submit data that is successfully disputed. To avoid network spam, a fee is required to begin a dispute. If the dispute is successful, the reporter bond is given to the disputer, otherwise the fee goes to the wrongly disputed reporter. Tellor is crypto-economically secured and transparent. Anyone can become a reporter and values can be checked by everyone.
Metrics for success
Reaching each milestone below will result in a 10k dispersement of funds for each milestone completed at time of completion.:
Design Research - milestone is completed once technical design is finalized and submitted for review.
Implementation + Testing - milestone is completed once local function tests and end to end scenario test are passing.
Testnet deployment - milestone is completed once oracle is up and running on testnet and a reporter can successfully submit multiple values
Reporter software - milestone is completed once automated software for data reporters to submit data is made available
Mainnet deployment - milestone is completed once oracle is deployed to harmony mainnet and reporters are successfully able to report values on chain
We are happy to announce that Tellor is live on Harmony.
The Tellor protocol is made up of several smart contracts that work together to provide decentralized data on-chain. Each of the contracts lives in its own github repo and are thoroughly tested. Each contract contains function and end-to-end tests. Tellor is up on Harmony testnet and mainnet and our reporter software is ready.
Contracts you’ll be interacting with as as user:
AutoPay - This contract that allows users to incentivize reporters to provide their data. Think of it as paying gas to reporters for providing your data.
Tellor Flex - contains all the logic for reporting data, retrieving data, becoming a decentralized reporter(staking and withdrawing).
Governance - contains all logic for disputing data validity, voting on it and slashing the reporter.
Here are the contract addresses:
We are decentralized and you can implement Tellor all on your own but we are here to help. Ping us if you need a decentralized oracle on Harmony!
It seems that Trellor has some good potential to bring value with custom arbitrary oracle data.
Also however, it doesn’t seem quite safe to me that answers can be used immediately after being answered before disputes can be placed, at least not without some additional mechanisms on the recipient projects part.
It seems to me when reading the whitepaper and comparing it to other sources, there seem to be some features I’ve seen described elsewhere not included in the whitepaper, is there somewhere else official with up to date information, or is the whitepaper currently holistic?
Indeed it’s never truly safe to use oracle data unchecked. So how fast that check has sufficiently occurred depends on different factors and ultimately, it’s up to the user’s discretion when they view that data is “final” and use it. Similar to how centralized exchanges wait for a certain # of block confirmations for txs to be final. As a best practice, we always strongly recommend waiting a reasonably length of time for a dispute to take place.
For more information about Tellor’s security: Tellor Security 201 | tellor
Indeed you’ve caught our whitepaper at it’s most out-of-date moment - right before a brand new whitepaper is being released! Our next update of Tellor is currently in audit and we are working to publish the new whitepaper over the next few weeks. Currently, I’d recommend augmenting your read of the whitepaper with our documentation for the most holistic and current information.
The main differences are our approach to what it means to be a decentralized oracle. Think web3 protocol vs web2 mega-startup.
Tellor is a completely trustless and permissionless protocol. The team has no power over censoring who can become a node in our system (data reporter), on what data is valid or not - governance over disputes is split between users, token holders, reporters, and the team’s wallet (which holds less than .5%). Most importantly there is no admin privileges any address or multisig has over the contracts unlike Chainlink who has a multisig that controls the aggregator. So ultimately you have to trust Chainlink.
From a user perspective we believe we have a much more flexible approach to fulfilling custom requests and although we love to white glove this process with our users, technically anyone could create custom spec for the data, PR their dataType into our data spec repo, and incentivize our data reports to provide the data using without any interactions with our team at all. This is the way.