SIP 99: Upgrade sOIL to use diversified Chainlink aggregator Source

AuthorClinton Ennis
StatusImplemented
Created2020-11-26

Simple Summary

Upgrade sOIL to track new price sources such as OTC desk trading.

Abstract

Aim is to diversify the amount of data sources we use for the oil feed in order to not rely on a limited number of data sources and help decentralize the reliability of the pair as a result.

Motivation

The current pair doesn’t rely on enough data sources we aim to improve this by working with Chainlink adding OTC trade data and deploying a new aggregator.

Specification

Change ExchangeRates to point to the new WTI Aggregator for sOIL will require these steps;

  1. Suspend sOIL, iOIL synths to pause trading
  2. Purge holders back to sUSD. sOIL ~$1500 in holdings, iOIL ~$7,400 in holdings
  3. Update ExchangeRates OIL aggregators
  4. Set new Inverse Pricing based on current price data
  5. Unsuspend sOIL and iOIL to resume trading

Configurable Values (Via SCCP)

N/A

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