Oracle
Last updated
Last updated
EraLend utilizes the decentralized Pyth , which provides up-to-date token prices data to smart contracts on zkSync Mainnet.
Responsibilities of an oracle
Updates, stores, and distributes up-to-date token prices relevant to the system.
Disables borrowing functionality if prices are not fresh.
Provides functionality to perform liquidation.
The EraLend protocol utilizes its respective contract to retrieve frequently stored price updates.
At EraLend, the on-chain manifestation of the oracle is the contract, which stores prices that are frequently updated by the oracle. The primary user of these prices is the contract, which needs them to evaluate the user's asset status to determine eligibility for liquidation.
The oracle is responsible for collecting and updating all token prices known to the EraLend system.
The EraLend audit contract which receives token prices from the oracle, and supplies them to all contracts that need it.