Overview:
Oracles on Celo today are currently managed by cLabs. Moving forward, in the name of decentralization, we would like to kickstart a plan to move these oracles to different entities, ecosystem projects, and potentially even validators of the Celo Protocol.
Benefits:
Ensure all oracles are decentralized and supported by the community in a trustless way.
Any partner that would eventually run an oracle would be one that does not have any conflicts of interests and has the technical ability to main and update oracles as needed.
In return, we are thinking about introducing a community proposal delivering an annual payment to these partners running oracles.
Input needed from the community:
If you are interested in helping, please nominate yourself or any partners and ecosystem projects that might be a good fit in running these oracles.
We are also exploring decentralized protocols like Chainlink and Band to also support this effort.
One thing to be mindful is that the oracle space can be extremely competitive and any delegation by cLabs to new oracle providers should not be contractually limited to a single provider, which does happen from time to time.
Bumping this back up to look for more folks that may be interested in running an oracle? Hoping to make progress here with more volunteers in the coming months.
Hey, @nimittank a great initiative - thanks for picking up the topics of Oracles! We as RedStone are definitely interested in getting involved in that movement and help how we can - with running Oracles and also sharing our insights on the space
Please hit me on Discord or email: marcin@redstone.finance
I’m liquidator on the network, so I need oracles to be alive and kicking.
There’s also some pet projects I have that need oracle price feeds, but those are actually using the Band protocol oracles for now since they have better data selection.
Interesting, would like to ask 1 or 2 follow-up questions around the data selection of the Band that you see missing with other Oracles Hit me up on Tg → @Marcin_Kaz
At RedStone we have almost 1000 assets supported, long-tail tokens, forex, commodities, stocks and more → https://app.redstone.finance/ here you can see the full list
Got my alfajores oracles up and running today with help from @martinvol
Very honored to be contributing back to the decentralizing of the network.
You can see the oracle reporters already submitting feed updates on Alfajores:
Oracle1 (USD)
0xc31B88926dEFbb0B9D3C95a99c40b6A73A6190Fb
Oracle2 (EUR)
0xf6D25e231Ea4b399833205a8b11fF3469d7a9855
Oracle3 (BRL)
0xE766C47580B00E51Bf33E2ba9C5C5fbE4137Ed6C
Correct. Today there are 10 nodes with DiWu running 1 and cLabs running the rest. The goal is to transition a total of 6 oracles away from cLabs to limit the majority.
Celo and Deutsche Telekom share, in the crypto era, a long history and partnership. Celo and its community stand for values that perfectly match Deutsche Telekom’s - which is why Deutsche Telekom decided to invest in the network in 2021 & provide its own infrastructure in the form of validators since then.
We want to contribute to the growth of the Celo ecosystem and are very excited about cLabs’ efforts to decentralize the Celo Oracle service. As a classic infrastructure provider, we would love to contribute to this effort and be included as an Oracle provider.
For this purpose, we plan to submit a proposal for your consideration for acceptance as an Oracle provider within the next 1-2 weeks. Additionally, in cooperation with cLabs, we have therefore prepared an agreement that describes the service & business conditions of an Oracle provider. Together with the Smart Contract, this document will be seen as the “contractual basis” between the Celo network & Deutsche Telekom. Maybe an unusual proposal in the crypto space, but a pioneering effort to combine classic contracting with smart contracts - we are already curious about your feedback!
But for now, we would love to hear your thoughts on Deutsche Telekom becoming an oracle provider in general!
As an investor in multiple startups in the ecosystem, a validator to Celo, cofounder of G$ which is now migrating.
I’d be grateful to run an oracle node; I’m sure it will be a significant boost for the ecosystem
In general, I welcome Deutsche Telekom becoming an oracle provider and kickstarting plans to move oracles from cLabs to a more resilient decentralized solution.
Our validator group is also happy to maintain an oracle node when the time comes.
T-Systems MMS Celo Oracle Operator Forum Post Summary
Name of the node operator: T-Systems MMS
Location of headquarters: Dresden
Service: Celo Oracle Service
Conditions: requested as proposed from nimittank on Celo Forum (30.09.2022) & written out in the attached files (DT_Celo_Oracle_Proposal 1-5).
Motivation
About T-Systems MMS: T-Systems MMS is the digitalization and innovation company within the Deutsche Telekom AG – Europe’s largest telecommunications company by revenue with annual revenues of EUR 101 billion (2020). The parent company is also very successful in the US with its T-Mobile brand and employs over 223,000 people worldwide. Based inside T-Systems MMS is the Blockchain Solutions Center (BCSC), which has been active since 2020 as an infrastructure provider for different public blockchain networks. Starting with Chainlink, the BCSC is now also live on Flow, Celo, and Polkadot, Q and Ethereum. In addition to providing infrastructure for public networks, Deutsche Telekom is also investing in them – with recent investments in Celo and Polkadot.
The Team
Our team consists of blockchain enthusiasts and as those we believe that this technology will make the world a better place, at least a tiny bit. In line with this, we spent the last years bringing the behemoth that is Deutsche Telekom on track with this vision. Infrastructure provisioning is the core of Deutsche Telekom - from telephone, to internet, the next big step will be to provide decentralized infrastructure for the web3.
Activities on Celo and Partnership with cLabs
Celo & Deutsche Telekom share, in crypto time, a now long history as well as partnership. Celo & its community represent values that perfectly match those of Deutsche Telekom: Sustainable growth of local economies, a green focus with fully CO2 neutral transactions & finally the mobile-first approach. For these reasons, Deutsche Telekom 2021 decided not only to provide infrastructure for the Celo network, but also to invest in the network. We want to contribute to the growth of the Celo ecosystem & are very pleased with cLabs’ efforts to decentralize the Celo Oracle service. With our investment, that of a16z as well as community delegations, Deutsche Telekom has been successfully running validators since 2021 - a full group since May this year. Since September this year we have been running our Celo Oracle service on Baklava on a test basis for cUSD & cEUR. With the same quality standards as our validators, we would like to apply with this proposal as a service operator for Celo Oracle Service.
Discussion
We invite the Celo Community to share thoughts & comment on our operator CV.
