HuOracle: Evmos data feeds from Huobi

HuOracle provides price, volume, trading and other data feeds from 46 sources (including Huobi) to Evmos. Over 1,000 assets updated every 10 seconds, that's how HuOracle unlocks Evmos DeFi potential.

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Inspiration

Evmos ecosystem has been growing at a very healthy rate thanks to a unique value proposition: EVM-compatibility combined with Cosmos efficiency & interoperability. What else one needs, huh? But there is one essential missing puzzle in the developer stack, which is diverse and frequently updated data feeds... The implication is simple:

Lack of cost-efficient & diversified Oracle data feeds <=> Lack of DeFi growth & innovation 🤷‍♀️

Hence, we answer the requests and needs of Evmos developers with a novel Oracle approach. Let's keep data off-chain and optimise the way it's extracted by dApps on Evmos! That's how we leveraged the RedStone innovative infrastructure to create HuOracle, the first cost-efficient Evmos Oracle offering versatile data feeds - asset prices but also much more 🎯

What it does

HuOracle delivers price feeds for over 1,000 assets including tokens, Fiat currencies, NFTs floor, Commodities and Stocks - all updated every 10 seconds ⏱ We pull data for tokens from 46 sources, including Huobi, and integrated two dedicated data feeds from the Huobi API:

  1. EVMOS trading volume in the base currency of the last 24 hours 💱
  2. Latest NAV (Net Asset Value) for holding long positions of BTCUSDT with 3x leverage. ⚖️

But what's truly special is that any Web3 builder can create a custom Oracle on Evmos using a Web Wizard, all you need is an URL + JSON Path and you are good to go! 🚀

How we built it

HuOracle is an implementation of RedStone infrastructure & RedStone Custom Oracles Wizard that allows developers to spawn their own Oracle from any API, including the versatile Huobi API.

Challenges we ran into

The major challenge has been around the integration of RedStone Oracles on Evmos and making sure everything works stable & scalable in the Evmos ecosystem. Another tough task was to find reliable data feed URLs that we could integrate with the ecosystem, thankfully the Huobi API has been fairly straightforward. Lastly, the tests of usage of HuOracle on the chain were harder than we thought, but we managed to finish with a reliable solution for Web3 builders 🛠

Accomplishments that we're proud of

All data integrated is available on-chain, works stably and some Evmos hackathon teams have tried to integrate them already - check other submissions looking for the RedStone keyword!

What we are really proud of is how significant flexibility we managed to offer to builders when it comes to types of data they can integrate - just as an example see Russian losses of personnel units.

What we learned

Sometimes you need to do trade-offs to achieve efficiency and cope with limited time - therefore we had to refrain from adding new Evmos ecosystem tokens for now. But that's perfectly possible, together with the integration of DEXes data feeds (not only price but also volume and other metrics), which would be truly revolutionary for the ecosystem!

What's next for HuOracle: Evmos data feeds from Huobi

We are very keen on hearing feedback from hackathon organisers and the Evmos builders community about HuOracle. If we manage to win a prize, we definitely would have some points on our roadmap, including: Integration of Osmosis DEX data feeds, exploring other types of data that the Evmos community would like to use for building Web3 products, as well as tightening cooperation with the Evmos team & ecosystem developers.

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