Adding RedStone Oracles to the Venus Oracle Interface

The Venus community delegators are submitting this proposal on behalf of RedStone.

Summary

Two weeks ago, RedStone posted a proposal about adding support for their price feeds to the Oracle module of Venus at no cost, which would increase security of the protocol and enable creating more isolated pools for new assets in the future.

Proposal

• Add RedStone Oracles to the current Venus Oracle Interface.
• Implement RedStone’s AAVE price feed with a 0.5% Deviation Threshold as a fallback oracle.

RedStone's proposed flow of integration starts with the Classic Oracle interface (Theis Classic Model). This interface works in a similar manner to how classic oracles like Chainlink work. That means that no changes to the code logic are required on the Venus side to integrate RedStone.

The difference between RedStone and other Oracles in that model? Most importantly - Venus can now list way more assets than before. Also:

-Customizable parameters of Heartbeat and Deviation.

-Full transparency in terms of chosen Data Sources and Data Aggregation methods.

-RedStone takes care of the end2end infrastructure maintenance and development, allowing the protocol to fully focus on the core business without adding additional overhead in terms of risk and developer resources (as opposed to other oracle providers, pushing part of the infrastructure maintenance on the protocol).

For the complete details on RedStone's offer. Please see the below link to their publications on the Venus Community Forum.