Aletheia - Inflation Oracle

An inflation oracle that uses a decentralised network of feeds to determine the global/local inflation. Feeds scrape pre-determined online retailers data and inform the oracle of the changes in prices of those items. It's designed so that it's crypto-economically secure.

Aletheia - Inflation Oracle

Created At

HackMoney 2021

Project Description

The project is currently at its infancy, but it's 3 distinct things:

  • A feed agent that scrapes online prices to gauge the inflation of a particular national economy
  • A decentralized Oracle that is based on the aforementioned agents to present the values inside the Ethereum blockchain, in a decentralized and crypto-economically secure manner
  • a DeFi platform that uses inflation, as a data-point, to offer financial products (e.g inflation-adjusted vaults, etc.)

Currently, the agent feed is perfectly defined and ready to be developed, the decentralized oracle needs some refinement around its mechanism design (MEV implications, etc.) and the DeFi platform is completely undefined.

How it's Made

The feed agent is coded in rust. It's a modular design that:

  • Reads the scraping targets + inflation computation taxonomy from a pre-determined target

  • Scrapes the URLs daily and computes the daily inflation index

  • Computes a proof for the aforementioned computation

  • Stores the raw data in a retrievable manner

  • Outputs a package with the aforementioned data structures

The decentralized oracle is a set of smart contracts that organizes the feeds. The mechanism design needs refinement.

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