Price Feeding Mechanism
The oracle provides pricing for perpetual contract trading pairs. HyperionX classifies currencies based on liquidity into DEX (Decentralized Exchange) and CEX (Centralized Exchange) currencies. Below, we describe the oracle implementation for these two types of currencies.
Decentralized (DEX) Currencies
DEX Currencies: These are currencies whose liquidity is primarily concentrated in decentralized exchanges. Taking UNIBOT as an example, we explain the price feeding mechanism.
Calculating the UNIBOT/USD Price
HyperionX selects the pool with the highest liquidity on Uniswap (for example, the UNIBOT/WETH v2 pool), obtains the UNIBOT price, and converts it into the USD price.
Centralized (CEX) Currencies
Currencies with liquidity concentrated in centralized exchanges are collectively referred to as CEX currencies. Here, we use ETH as an example to explain the price feeding mechanism.
Calculating USDT/USD Price
HyperionX has selected the USDT/USD prices from four exchanges including Coinbase, and the median value is taken as the fair USDT/USD price.
Calculating ETH/USDT Price
HyperionX chooses the ETH/USDT prices from five exchanges with good liquidity, such as Okx, and calculates the median price. Prices significantly deviating from the median are treated as anomalies. Finally, the average of these values is calculated to establish the fair ETH/USDT price.
Calculating ETH/USD Price
The fair USDT/USD price and ETH/USDT price are multiplied to obtain the ETH/USD price.
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