MoonRacle: Custom Oracles on MoonBeam

MoonRacle provides price, volume, trading and other data feeds from 46 sources to Moonbeam. 1,000+ assets updated every 10 seconds & Custom Oracles - that's how MoonRacle unlocks the Web3 potential 🌕

Comment 1

Inspiration

Builders on Moonbeam have been restricted by the lack of diversified and custom data feeds for months. But now MoonRacle comes with a unique value proposition:

🚀 Diverse and frequently updated data feeds delivered by a robust Oracle 🚀

We keep data off-chain and optimise the way it's extracted by dApps on Moonbeam. That's how we leveraged the RedStone innovative infrastructure to create MooRacle offering versatile data feeds - asset prices but also much more 🎯

What it does

MoonRacle 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 for the above feeds and integrated a dedicated custom data feed from one of Arrington Capital's portfolio companies - Propy (https://propy.com/), the real estate industry automating transactions solution:

🏡💸 Price of the most expensive property of both Americas from Propy 🏡💸

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

How we built it

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

Challenges we ran into

The major challenge has been around the integration of RedStone Oracles on Moonbeam and making sure everything works stable & scalable in the Moonbeam ecosystem. Another tough task was to find reliable data feed URLs that we could integrate with the ecosystem, thankfully the Propy API has been fairly straightforward. Lastly, the tests of usage of MoonRacle 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, and works stably.

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 other Moonbeam ecosystem-related data feeds for now. But that's perfectly possible, together with the integration of DEXes data feeds (not only price but also volume and other metrics).

What's next for MoonRacle: Custom Oracles on MoonBeam

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

Built With

Share this project:

Updates