Tellor reporter call February 9th 2022

By Tamsay | Tellor | 1 Mar 2022


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Updates on PyTelliot, new integrations, Algorand status and some profitability discussions.

Whole discussion

Owen: Welcome everyone to the 5th reporter’s call. We’re just going to be going over a few updates about, where we’re at in terms of the many things that we’re doing that interact with the reporter software. To begin, we have a few integrations that we’re just working on. Diva protocol, which is a prediction market, good things to know is that we have successfully settled derivatives pools. That is their terminology, I don’t know the exact specifics of prediction markets, but basically, we’ve reported some basic data for them, like the price of USD, and there’s just like a few other changes that need to be made, because they have contracts that you want that they need you to interact with. If you want to check out those updates in Telliot core and whatnot, if you’re developing your own client software. Then the other thing is Fuse, which is actually pretty cool, they deployed Tellor Flex on their own network and been working with one of their developers to get reporters up for them. They’re going to be, I think running it just as like a dev team to start off with reporting data, I don’t know exactly what they need, but we have successfully reported some data for them after their dev walked me through their protocol. The other thing is Morph, where we’re just kind of refining the query data and query ID. Some of the information there, they just have like a lot of data that they need on chain, the spot prices of AWS instance types, because their whole project or service is to essentially provide decentralized machine learning compute and so they need the price of AWS compute instances to help determine pricing and rewards for their compute providers. The other things that we’re doing...

Brenda: Question; so, for Diva protocol and for Diva protocol, basically what we do is, we push the data on chain and they pull it into their contract?

Owen: Yeah, so we push it on chain and then someone has to go and they have a separate contract deployed, called like Tellor Diva oracle, and this s essentially like settling the pool it grabs the latest value for a specific reference asset for that pool and then it pushes it to their contracts I believe. So, they’re the ones pulling the data from us.

Brenda: Perfect.

Owen: But I don’t think that they’re going to be the ones calling the function that pushes that dushes that data over, that completely settles the pool. I think that’s going to have to be the reporter, which is why we built out like the man, just doing it manually.
The other thing too is, we’re kind of on boarding more devs to the PyTelliot side, and Lauren is working on adding price feeds for BCT, which is Base Carbon something. It’s for Tucan I guess.

Spuddy: Base Carbon Ton, like a base carbon, it’s like a unit of carbon emissions or something.

Owen: Sweet. So, this is good, because with the current reporting software it rotates through our different active queries that we have, so if you’re using our client software and hopefully if you’re using your own, you’re rotating through and just keeping our current supported queries, like keeping the data more live, I guess. Anyway, we’re working on that and this will be good for EthDenver, because people in hackathon projects like if they’re going to use us like as an oracle and they want to add a spot price. We’re just refining how you do that making it easier for them. The other thing is, we’ve handled some bugs, there’s been some more, which is good, people are getting into the habit of opening issues within github for us and so I would say expect a new release by the end of this week. Handling some of those latest ones basically just been busy with the integration stuff. The other thing that’s been brought up in the town hall meeting and it’s something that we’ve been talking about in the past is this dynamic on Ethereum main net, where it’s just like very rough for new people, they have this idea that okay, I can go report on Tellor and make some money, but the reality is that if you want to be competitive, you have to be a gnarly software engineer and that’s not everyone. So, maybe going forward, I was talking with Tim about this too and it’s just upper discussion, no promises or anything, we could experiment with having a balance of where we have and this is like coming out of two people wanting pools, like, we’re not going to do pools, but I think that sentiment is coming from this fact that it’s just, they want more opportunities to participate and this could be something like that, where it’s essentially like community-led. We have these people who have reported values in the past, they would just like this more stable guarantee that they can report values for reward, we could do this since we’re getting more users and stuff, and we could have you know, even like a percentage of reporting which is just done the normal way, where it’s just this time-based competition and then you can also have contracts that we can experiment with payment contracts. You can check out. I think we’re wrapping up the auto-pay contract which is going to be the basis for this, for people setting up payments with Tellor Flex. Essentially, so you could have the community really white-list a few addresses, so you’re getting a sort of proof of humanity, where you know you’re not going to white list ten addresses from one person, you can do it for each member of a community essentially. I don’t know, that would just be something that we could talk about more in discord ideally. That’s basically it. From me.
Tally’s not here, but we’re still continuing work on Algorand, he left some, next slide. These are just some updates from Tally, and I believe Kram is working on this as well. Looks like we’re ready to go on testnet, and they’re still working on testing for security and then there’s going to be some changes like in our reporting software, because Algorand has different transaction types than EVM based chains. There would be a lot of documentation needed for setting that up if we’re going to have people reporting over there. I don’t exactly know, I’m pretty sure the basis of Algorand is like we have a grant and that’s why we’re setting up Tellor Flex over there, so I don’t know how it’s going to work. If there’re going to be opportunities to report over there. If it’s just going to be like their dev team instead of rewarding anyway, that’s Algorand. Anyone have any comments, thoughts, questions?

Ryan: Just a quick question; so, the cycling through of the data points, that you currently have for PyTelliot, does that automatic, so if someone requests a new data type, does that automatically get thrown in, or is there a new process, or does that have to go with the new release, or.

Owen: Yeah, it has to be in the new release essentially, so I mean they’re like you can get the latest and greatest software if you clone the repository and pull down from main, but you can just like wait for the release and install things from the python package index. Basically, we have in data specs, like where we define all of our current queries that we’re supporting, like all of our users, they want a specific type of data they define it in the data specs repository and within that there’s a catalog that has each of our actively supported ones. So, we have like a spot price query type and there’s like several of those that we currently support, each ETH/USD and whatnot, and so the BCT/USD will be another spot price that is added essentially to that.

Spuddy: Yeah, not a question, but a thought on reporter profitability in the future. I think there’s going to be opportunities for people paying attention, because you know as integrations come, become live, there’s going to be data points that reporters who haven’t updated can’t provide and you know now we’re going to be on different chains and all of this stuff is changing a lot. So, for people who stay up to date and you know, they pay attention and they know what integrations are going live, and what data is needed and what rewards are getting paid for that data, I think there’s definitely going to be some opportunities in the future.

Owen: Yeah, the Diva protocol one is pretty exciting because that theoretically is like any, it’s like Tellor, any kind of data you know, it’s not just like spot prices where it’s very easy to automate and whatnot. It’s who’s going to win ufc270. Whatever. You know, that kind of thing.

Spuddy: So, what I’m saying is, the story arc of any, well of Tellor mining since the beginning of Tellor, every time there’s a big change, people who understand how to run the newest version of the software always, have a bit of an advantage, so if anybody watching this wants to get involved you know, and you feel like “I can’t make a profit, why would I do this”, well you might, if you have time to pay attention and follow along with what we’re going. Might create an opportunity for you in the future.

Owen: Then also, just in general, if people want this, just like in a text based, okay, here’s the reporter updates within discord instead of like this, like recorded call format, that can work too. Just let us know. That’s it for me.

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