External systems
Last updated
Last updated
The system needs access to the external price in real-time to monitor the change of guarantee ratio in order to initiate CSA state change and control risk. The oracle provides the system with timely information on external prices, including stablecoin QUSD, governance token KUN and reserve tokens, and key parameters such as the guarantee ratio .
In the absence of a mature decentralized oracle solution, the system will maintain a whitelist of price feed addresses, which is governed by the community vote to add or remove. Each price feed contains price information and validity, and the system calculates the median value from all valid price feeds as the system quote. When a generally accepted oracle solution for KUN holders is available, the system will switch to the corresponding decentralized oracle to guarantee fairness, impartiality, openness, and transparency of the price feed mechanism process.
When reserve asset price falls rapidly, the system may face a temporary deficiency of reserve assets, and according to the negative interest rate mechanism, interest may be paid to users. In the course of daily operation, the QIAN system may also earn interest income through flash loans or other services. Therefore, the QIAN system may have a surplus or a deficit during its operation, it is necessary to introduce an external trading platform to achieve the bidding transactions between QUSD, KUN, and reserve assets.