Smart Contracts, especially DeFi platforms need a highly reliable, real-time, scalable, and of course a decentralized mechanism of obtaining price feeds of tokens and currencies for their regular functioning.

Although the NEO platform provides native Oracles, right now there is no such solution that can provide price feeds on top of that which can be consumed by dapps for their essential functionality.

What it does

Feedio aims to provide a platform that can combine reliable aggregator data in a sustainable manner from multiple sources.

Any independent entity can register to provide a particular price feed by adhering to the protocol specifics in terms of update frequency, reliability, etc.

More number of independent price feed providers would lead to more reliable and consistent data that would not be dependent on the failure of a few feed providers.

Accomplishments and Challenges

It was a mammoth project with multiple modules across backend servers, API integrations, aggregating data, smart contracts to store the data as well as an independent NFT project for allowing the access.

We are proud that we were able to bring all these pieces together and

Economic Model

For the subscription consumers, there would be NFTs designed that would serve as subscription access for the price feeds. Presence of the NFTs in the calling contract accounts would allow for unhindered access to the price feed up to the specified expiry. These NFTs could be topped up with GAS to extend the validity

Expense of running the project Approximately 650 GAS per month Cost of an NFT for a monthly access 30 GAS No. of dapps required for breakeven on an ongoing basis 22 / 23

What's next for feedio

Focus on onboarding dapps to use the feedio price feed platform. Assist with integration. Setup tutorials and tools as required to scale

Focus on onboarding more price feed providers to increase the breadth of coverage as well as provide redundancy and reliability to existing configured price feeds

Improve platform design to support high-availability and failover support. Enhance the platform to make it more decentralized. Achieve aggregation at the smart-contract level

Platform governance token launch and DAO formation for controlling the key aspects and configurations and future roadmap of the project

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