Links
Youtube link: https://www.youtube.com/watch?v=W89Jx1m7Nm8
Official links: https://linktr.ee/Tellor
Summary
Events: NFT Philly / The Merge, Tellor 360 Audit Update https://tellor.io/blog/tellor360-the-..., Telliot bugs, Algorand Podcast & EthOnline Workshop https://twitter.com/algodevs/status/1..., https://online.ethglobal.com/, The Graph updates, Diva update, Tellor 360 edits, $DYAD & ALGO/USD updates, Telliot Updates, Questions
Whole call
Nick: Alright, hey everyone, welcome to Tellor dev call, August 29th. So, cool day today, today the treasury's supposed to get unlocked, don't know what time that is we're going to check to make sure that the front end works for you guys and then you can go pull them out. This is sort of the final treasury so it is what it is, but yeah, I think from the time that people got into the treasury with the pr we funny and we checked it was like ten dollars so if you were in the treasury the whole time you tripled your money just holding so there's no way you did bad sitting in the treasury and then you get a little five percent bump. Other things as far as what we're doing this week so if you guys saw last week, I think somebody posted it's up on the YouTube video there's how to make a dynamic NFT video. I did that there's some things that we already figured out that we want to update but it's a cool video the repos up on our GitHub you can go make a dynamic NFT. We're going to figure out how to kind of expand that and there's a lot of really cool things that you can do with NFTs and oracles so if you're into NFTs that could be something you guys might want to check out. As far as this week so contracts are still off at audit, we got some comments back. Some, nothing major, just some quick fixes so we'll be doing some of that and I'm going to kind of be working on an article here which should be fun and then as well working with the auditor. So, Tally how you doing?
Tally: Hey good, I was finishing up PulseChain support. It's implemented in Telliot core and now I, the liquid loans they gave me a graphql api endpoint, it's very similar to the Uniswap price source but I'm just testing it. I can't seem to connect to it through python. Nick: Don't cry too hard just you know hit them up if it's breaking.
Tally: Oh yeah yeah this is weird like it there's things where like you can read it if you use the browser but then if you use python it gives you four or four.
Owen: You're probably just like formatting the string wrong see there's another example in the Diva updates branch there's like a PR for it and if you go to I think pools. Or something just search in there for the where it makes the subgraph query you can see how to like format them.
Tally: Okay yeah, I was referring to the Uniswap one but.
Owen: Did you have to add another example can you like you can curl it to it and yeah it works fine? Like in the command line tell me?
Tally: Yeah yeah oh oh in the comment I haven't tried it actually I should though perhaps and I added docs for the build feed flag and I did some work on them just people without values monitored.
Nick: Nice, on that topic of PulseChain and then we were also talking Spuddy, Mike and I earlier this morning on the proof of work Tellor or proof of work Ethereum. So, PulseChain is working the whole Ethereum state eth is going to we're guessing they're going to merge here sometime soon and there's a lot of speculation some exchanges are already saying that they will support a proof of work. For anyone watching this spread the information, the Tellor token will not be unless for some unknown reason it becomes the majority chain it's most likely just a retail trap don't buy the Tellor token on the proof of work chain. We're on board with proof of stake if somebody tries to sell you a Tellor token on the proof of work chain, say no. So, just letting you guys know. Same with pollster not supporting the token over there as well on the fork will bridge, we'll bridge the official token over if we need to same with proof-of-work Ethereum if it actually does get support and is long-lived and people need oracles, we'll bridge a token and deploy new contracts so cool. Akrem?
Akrem: Good morning, finished up a pr that I was working on last Friday with the string query manual response found the bug in the tip listener where you're doing, I guess fee or queries that are not in the catalogue so fix that I'm working on finishing the rest of the query types manual sources and then after that the oracle address there's one thing as far as a function that doesn't exist, I guess in a sample contract I don't know maybe it should maybe it shouldn't as far as getting the staker info the way Telliot works is use basically get information from you're reading from the oracle directly versus reading through the sample contract.
Nick: So, you can you can edit the sample contract all you want so if you want to just add that function in and do it right feel free.
Akrem: So, I can have the signatures that I need then for tell you and just add them to the sample cartridge yeah okay that makes it easier.
Nick: Okay yeah, I no, I some places it might be easier to do it on Telliot, at some places it might be easier to do it on the sample contract thank you take your pick.
Akrem: Okay sounds good and that's it that's all that's all I got.
Nick: Cool Spuddy, you need anything?
Spuddy: Nope I made a few github issues because I got it but I don't know.
Nick: Disputable stuff up and running at the moment at the moment and then you did some tipping last week right and it was it worked semi as expected I don't think telly picked up all that but I'm going to try to claim see if there's anything there okay so yeah keep testing them out so and then same with have, we tested disputes recently or I got to do another one okay we got to do another one and then make sure you get pinged on the monitor that like I need to go submit a dispute so let us know. Alright, Tim?
Tim: Yeah so, we have a script now that calculates Toxicity for the 100-finance protocol and now it looks like they want us to add like all of the lending protocols on Polygon or at least all of them that support a certain set of tokens so yeah now I'll be adding on some more.
Nick: How many is it?
Tim: They just said all of the protocols that support those tokens.
Nick: I would ask them specifically which ones okay and then also yeah and since it might be a lot of work on our end like I know we can do it and we can take the time to do it but also see if those tokens who want in the ovics will also do it you know they might be flush with dev time so feel free to sure like give them the example of this is what I need you guys to do or what you know like send them like what would make your life easier like I need to know what functions to call here and here and.
Tim: That's a big one okay.
Nick: So, feel free to pass off a little bit of work to them.
Tim: Sure, okay well.
Nick: Owen?
Owen: Hey so yeah last Friday finished up like the new command for decoding submit value submitted values and query data. That's been kind of nice. Using that. Today I fixed a couple bugs in the diva reporter and I'm going to look at this reporting soaks but he's had some reporters try to report while they're in timelock so I'm just going to try to reproduce that and see what's going on there.
Nick: Thanks, nice and last but not least Ryan?
Ryan: Yeah, just diving into the treasury's page make sure that's flowing nicely since we have the released time today it was at 2, 2:16 p.m eastern time.
Nick: Okay cool all right yeah so for questions I think Brenda said we don't have any but we do have Krasi had asked whenever Tellor360 goes live if people are running say non-Telliot clients what do they need to do to upgrade and what's the difference in the reward structure so what do they need to do to upgrade basically. Hopefully nothing if you're, it should be the same structure as reporting on Polygon now so if you're not familiar with reporting on Polygon the difference is that one address can basically hold multiple stakes and then the token address is not the same as the staking address. Those are the big differences right I think so there's a few caveats that you'll have to kind of adjust for but if you want you can go now like go test on Mumbai or Matic and make sure it works and then it should just keep working like just switch it over to mainnet and putting the right addresses and that should work just fine so. As far as how the rewards are changing so time-based rewards will still be there the difference is that it's not coming directly from the token contract, we need to pass the time-based rewards over to the oracle contract there's a function that you can run I think it's like what is it like mint to oracle contract or something like that it slowly releases tokens, so 4000 tokens a month fills up in the token contract and anybody can call this function to send it over to the oracle contract, where it will then be time-based rewards. So, the way that we envision it I'm guessing as soon as the time-based rewards are depleted over in the oracle contract somebody will go call mint to oracle contract and it'll send them over there for time-based rewards that's yeah that'll probably be how it works curious to see but overall, the number of tokens emitted everything like that is the same so that'll be it and then had a fun discussion. If we want to play you guys can go look, I was tweeting about it today we'll; we can quiz you guys as a team as far as I'll play devil's advocate, why wouldn't L1, so if there is this new world where you have every app or application say diva or liquidity everyone has their own chains why wouldn't they just make the validators of that chain pass in their oracle needs and wouldn't this invalidate the need for oracles like chain link or Tellor this was a question post on twitter it's a good one it's a super good one anybody have thoughts?
Owen: Why would they pass in there or what say that part again?
Nick: So, you could just have the validators of the chain so like the miners themselves be the oracle if you're it's a let's say Diva protocol or you know let's say Liquity for he said like we're going to be our own chain that's all we want to put on this chain, we're going to just have the miners pass in the each us dollar price why would they I mean.
Tim: You could say oracle data has slower finality than the rest of the change things are a little more subjective this data we're reporting.
Spuddy: Are the validators required to submit oracle data to get rewards yeah for being a validator?
Nick: Yeah, okay so this was an idea that people had thrown out for eth originally whenever each was being proposed Ethereum was being proposed and people have thrown out in the past why doesn't Ethereum just provide eth/us dollar price I'm trying to think if there's a conflict of interest at all yeah so, it's an interesting one I think it's going to come up more because so cosmos for instance you can do that so like some Cosmos chains like for instance terra or some of them will have oracles built into the validation process I think the main argument that you can say is obviously like if you're a generic L1 you're not going to want to do this like because then you have to which oracle prices do you provide how do you decide which ones you do. That's why like most of the time right now we just have these generic how do you update it it's tough yeah so well I mean it's the same problem for us but yeah like you would just handle it on the validation validator side. So, the other piece I think would be and I and I think there is a future for that I think in a lot of ways but what yeah.
Spuddy: Isn't it a bad idea because if an api goes down and the validators can't provide oracle data they wouldn't they can't all the blockchain would shut down.
Nick: Yep so, I think that's one of the things like there's a lot certain piece you could do it for maybe but some of them it's going to be really hard I think that's a valid argument as well you're sort of how do you pick which apis are included is that something you want to do with your validator set.
Spuddy: It's detrimental to the security of the blockchain sure then it might be great for oracle security but for the blockchain it's bad.
Nick: Well, I mean but it could be like if your whole chain was Liquity for instance if the oracle goes bad, you're screwed anyway, which would be the argument. I think in a lot of ways like it could but the other thing too like oracles as well are bridges so is there a limit to a number of bridges that you do? So, like near for instance their validators provide the rainbow bridge so that's a near/eth bridge that's validated by the near validators. Which is great so that's it's one of the perfect bridges out there because basically like you need to corrupt near validators to corrupt the bridge but the problem is that you can't do that with every chain, you can't do that with every price there are some subjectivity issues between there depending on what valid validate value it is I think another sort of reason that to be bullish on oracle's would be just I'm not super bullish on there being project specific chains yeah, I mean that's probably the biggest flaw in the thesis right there. I think like maybe in the future you would see.
Spuddy: Clearly bridges are weak links.
Nick: Like I mean like I know we've been approached by Cosmos and Polkadot be like oh come run your own chain and to me that's like a complete non-starter like even as an oracle with like a decent market cap it's like I don't want to worry about validator sets I don't want to have to worry about maintaining a whole chain like that seems really difficult and not something I'm too into and I don't and I think a lot of projects until you get really big it's just it's a giant lift to do your own chain. The future that I see like if it does go chain specific would be like Polygon just has like it's like a service on top of Polygon but it's like very you know specific to like they're more of like the aws of crypto and you just sort of rent the specific chain from them if you will and I can see that especially if like it's all rolled up to Ethereum so it's like it doesn't matter if your sequencer or validators are centralized. I don't know thoughts? anyway it was an interesting one something for you guys to think about yeah so, I'm still bullish on oracles obviously but in a distant future where apps have their own specific chains you could see something where maybe like a Polygon or something like that which I think would actually be the more detrimental thing to oracle providers like us or ChainLink would be like if Polygon themselves was something we're going to be in the oracle space.
Spuddy: But then that would be a huge it would be a problem for lots of apps running on polygon if the apis for sure get broke well.
Nick: I mean they would just do it in a centralized manner like if Polygon was like we're gonna do ChainLinks model yeah and you know we're going to natively support all oracles on Polygons and roll-ups and stuff and that would be like oh man and it could work I think the bigger, I think. Another issue too which we didn't talk about is like regulatory issues so like if you have any sort of centralization in your validator set and you're the oracle like you sort of look like you're custodying people's money and or the oracle that looks a whole lot like a futures exchange or yeah, some sort of financial service provider. Which would probably not fly.
Tally: Kind of expensive to self-maintain an oracle too to that scale.
Nick: For sure.
Tally: Yeah, like if you try to mock ChainLink in your Polygon like you have to hire so many people to like maintain it when there's a pre-existing service that will do it and then it's duplicated infrastructurally.
Spuddy: There would have to be an incentive to do that. You know I mean like ChainLink big ico launched a token and made all the way.
Nick: Well, I mean polygon theoretically has enough money I think like you have enough money but would it be profitable. I don't know no I mean like I think what you could do is like maybe if like I mean ChainLink, I don't think is profitable like, I don't think ChainLink is profitable in any sense of the word. Like you know they just make money all of their tokens so like if Polygon wanted to pump their token a whole lot, they could just say like we're going to go after ChainLink and steal your narrative by being you know we have a bigger market cap than you we have a better you know we can do this better than you and then you could also just kick ChainLink off of Polygon. You could kick ChainLink off of any of your apps and do it that way I don't know if they would do that but you know it would obviously be like you know a nightmare for them in terms of claiming any sort of decentralization but they're probably more happy to let ChainLink handle that like you guys worry about that oracle stuff for sure yeah well I mean especially like you know ChainLink hands people free price feeds right now and by handing people free price feeds ChainLink pays money to Polygon validators. So, it's like a win-win for Polygon as it is like you want people to come on there to give free price feeds, they're paying cash. So, anyway alright, fun discussion so we're off, talk to you guys next week.
