| id | Title | Status | Author | Description | Discussions to | Created |
|---|---|---|---|---|---|---|
| TIP-114 | Change Overtime's Oracle to a new Chainlink node | Implemented | Danijel (@danthales) | Change Overtime's oracle to a directly managed Rundown node | https://discord.gg/thales | 2022-12-17 |
This TIP proposes to switch the Oracle address in Overtime contracts to a new Chainlink node that will be directly managed by The Rundown.
LinkPool has been an essential part of Overtime's success story. They reached out to us 6 months ago and informed us about The Rundown data potentially being a good fit for what we set out to build with Overtime. We have worked very closely ever since and I am 100% certain Overtime will never become what it is without their support.
At the same time, LinkPool has informed us they will no longer be able to provide the degree of support required for maintaining, extending and scaling the Rundown adapter node. The existing adapter node is stable and will continue operating, but as Overtime has a lot of ongoing developments which require non trivial engineering effort (new market types, leagues, continuous upgrades to deal with frontrunning), it is unclear how we can efficiently continue upgrading the Oracle in these new circumstances.
In addition, with Overtime getting huge traction and getting ready to deploy on more chains, it is also important to reduce update thresholds to a level that ensures close to 0 frontrunning. To do this, we have to 10x our data update frequency which at current costs is just not feasible (would be ~$30k or more a month).
We are also in continuous talks with The Rundown, who are thrilled with Overtime's success thus far and are committed to continue supporting it and enable its growth. We have been discussing a deal with them that would allow us infinite calls to their API at a fixed price floor and revenue share agreement. As a part of this deal, The Rundown is committed to prioritize and serve Overtime's requests in adding new markets and leagues and ensure Overtime is enabled to reach the full promise of its potential.
The Rundown is also willing to take on hosting a Chainlink node directly, where Thales CCs will have a more direct influence over engineering upgrades needed to continue scaling Overtime. The pricing would be set to minimal (e.g. 0.01 LINK), to enable scaling of the frequency of on-chain calls.
With this new node we will be in a position to deploy Overtime to more chains, without incurring a linear cost increase, and to increase Overtime's liquidity caps, as we will be much better positioned against frontrunning. We will also feel more comfortable about allowing external liquidity providers.
- Change Oracle address in Overtime contracts to the directly managed Rundown node. (address will be known at time of deployment of the node)
Copyright and related rights waived via CC0.