Addition of Razor Oracle Data Feed to All Existing Data Collections

[yohanelly95]

Abstract

This proposal outlines the integration of a Razor Oracle price feed into all existing and future data collections. This addition aims to enhance the utility and accuracy of decentralized applications by providing reliable and up-to-date reference prices for all supported collections on the Razor Oracle.

Rationale

1. Enhanced Accuracy for DeFi Applications: Many DeFi protocols rely on accurate price data for trading, lending, and other financial services. The Razor Oracle data feed will ensure these protocols access precise price information, reducing risks associated with price inaccuracies reported by price feeds.
2. Broad Coverage: By integrating the Razor Oracle data feed across all existing and future data collections, we ensure a wide range of assets and pairs are covered, providing comprehensive support for the DeFi ecosystem.

Implementation

The implementation of the Razor Oracle data feed into all data collections will involve:

• Updating the current active data collections to integrate with the Razor Oracle API.
• Adding the endpoint to all future collections

Conclusion

Integrating the Razor Oracle data feed into all existing and future data collections is a strategic move that will significantly benefit the DeFi ecosystem and other blockchain applications. This proposal requests community feedback and support for the implementation of this price feed.

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For detailed discussion and feedback, please use the commenting section below.

Datasources PR- razor-network/datasources#85