[CLOSED]Deploy Pyth’s pull oracle to opBNB

Ideas Bank
9

[DouroLabs] Proposal for Integration of Pyth Price Feeds on opBNB

Summary

In response to the request made by KiloEx (here), Douro Labs proposes to develop and deploy integration software and services on opBNB, allowing any smart contract application to securely access the Pyth data on both Testnet and Mainnet.

The target completion is June 15, 2024.

Background

Douro Labs is a software development company that helps decentralise data services and enhance access to real-time, once-exclusive market data for all blockchain participants by contributing to some of the most important projects in the space, such as the Pyth Network, where Douro Labs is one of the initial contributors. The company employs close to 30 individuals who previously worked at firms such as Goldman Sachs, Jump Crypto, BNP Paribas, Amazon Web Services and Chorus One. Douro Labs is building oracle tooling, products, and Web3 infrastructure that will expand the Pyth Network’s suite of decentralized data services and enhance access to real-time, once-exclusive market data for all blockchain participants.

To date, Douro Labs has been responsible for the development of Pyth services on 59 chains.

Scope

Douro Labs proposes to perform the following:

  1. The deployment of audited smart contracts related to Pyth’s on-demand oracle to make Pyth data available on opBNB, on both the testnet and mainnet environments. The software associated with the integration of Pyth price feed services is open-source and licensed under the Apache License, Version 2.0. Please refer to the license file: GitHub - pyth-network/pyth-crosschain: Crosschain Pyth programs and utilities. The deployment will be deemed completed at the successful verification of at least 10 price updates on mainnet

  2. Douro Labs will maintain the integration software and make the necessary changes over time related to:

    1. any chain upgrades and/or changes that require smart contract updates
    2. any changes related to the Pyth protocol that the DAO decides to action and that may impact the smart contracts deployed on opBNB

    The duration of the maintenance services would be for 1 year, pending additional proposals to extend the maintenance period

Outcomes and Timeline

  1. Pyth Price feeds integration development, release in the repo GitHub - pyth-network/pyth-crosschain: Crosschain Pyth programs and utilities and deployment on Testnet by June 3, 2024
  2. Operational Improvement Proposal raised to Pythian Council to deploy on Mainnet and Deployment by June 6, 2024
  3. DeFi application integration and testing completed (including KiloEx) by June 15, 2024

Cost

We call on to the Pythian Council to define price per update that is commensurate with the value the Pyth data will add to protocols and applications on opBNB.

Next Step

Douro Labs welcome any comments or feedback below.

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