Coffin Finance takes price feeds from Band Protocol and SpookySwap Router Oracle (UniSwap V2 System). Through a consensus made by the DAO, other pricing information may also be used, for example, ChainLink Oracle is already on The Fantom Opera mainnet.
Meanwhile, only the devs ️can change them to make a successful launch, and we will be changing them proactively, efficiently and reactively to the very moment.
Band Protocol Provides:
You may see this article about it. ref: https://docs.fantom.foundation/tutorials/band-protocol-standard-dataset
SpookySwap Oracle (UniSwap V2 System) Provides:
We are using both oracles to calculate rates of COFFIN, CoUSD, XCOFFIN in USD.
As you may know, the SpookySwap (Uniswap V2 system) has price oracles that use a TWAP (time-weighted average price) in order to effectively calculate an accurate price for tokens within the SpookySwap pools. Coffin Finance is able to use a TWAP configured to 10 minutes on its SpookySwap pools to get price information for COFFIN, CoUSD and other collateral tokens in the system. Oracle parameters are changeable through a governance proposal. Meanwhile, only the developers ️can change them to create successful launch without advanced notice.
At launch, Coffin Finance uses TWAP for COFFIN transfer tax, and uses real-time rates for others. Such price data may differ from actual estimated rate on swap services because of slippage, trade size and liquidity. The developers team has the option to use either TWAP or real-time rates as price metrics, andcarry the ability to switch between them without notice.
UniSwap V2 mechanism is not capital efficient, and we cannot say that it is suitable for stable token pairs. So, we believe we should release our own stable swap, like Curve.fi/UniswapV3, and use that mechanism for our price oracle.
Please refer to the Roadmap as well.
We highly recommend you to Do Your Own Research and never use funds within the Coffin Finance that you cannot afford to lose. You won’t be compensated for any losses. All interactions with the associated smart contracts on the Fantom Opera and software on Coffin Finance are at your own risk.