if the issue is waiting on a price feed for gold to ada I propose we instead create the igold asset backed by the Iusd asset, as chainlink has a price feed for XAU/USD.
Indigo runs on Cardano. Unfortunately Chainlink does not yet run on Cardano. So Indigo cannot directly make use of Chainlink’s feeds. An intermediary would be required to create a new price feed interfacing Chainlink with Cardano.
Good question! As of now, that article is a little out of date. Simply put, Indigo runs its own oracle solution which references chainlink price feeds. Here is the longer more descriptive answer:
Since there are at present no Cardano-native Oracles that meet Indigo’s datum standards, for now, Indigo has been launched using its own fault-tolerant and geo-diverse Oracle solution powered by Chainlink. Chainlink is the most well-known, widely-used, and trusted Oracle services provider in existence today, and is an integration partner of the Indigo Protocol. Through Chainlink, the Indigo Protocol can access a wide range of Oracle price-feeds.
Indigo’s Oracle solution works by pulling data from Chainlink price fees established on the Ethereum blockchain. Specifically, when the value or price of any whitelisted iAsset fluctuates, price data is collected from long-established Chainlink nodes on the Ethereum blockchain automatically and saved on the Cardano blockchain by an updating datum as part of an Oracle NFT dedicated to that iAsset. The datum of this iAsset-specific NFT which Indigo references is updated hourly, in line with the actual update cadence of Chainlink’s feed updates. Every time a new price is recorded on Ethereum, the Oracle NFT is updated to contain the most recent and accurate value for the iAssets and fed to Indigo’s on-chain and audited Oracle validator script in an automated and secure manner.
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OK, thank you for your reply !
Doesn’t it mean in theory that any Chainlink feed could be carried over by updating the list of feeds tracked by the Indigo oracle ?
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The article literally says
Indigo Protocol plans on utilizing Chainlink Price Feeds for a wide range of iAssets, including digital and real-world assets. Indigo Protocol will benefit from the decentralization of the source data and oracle nodes provided by Chainlink.
So why don’t we push for IGold in the meantime we wait for a native cardano oracle?
I guess I’m not seeing the difference between doing that for iGOLD and any of the other assets we have. Honestly if Indigo Labs is capable of building their own oracle solution maybe they develop that out a bit more and Indigo would be the first to license it. that would then create an additional source of income for Labs as they license that oracle out to other projects in need.
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