Oracles

Concept

Oracles are nodes that monitor blockchain transactions and detect value added in web3 via referrals, by connecting off-chain promotions with the actual on-chain user activity. This is a cross-chain solution that does not require any (contract) integration.

Oracle Network

Joined together into a network that consists of gasless off-chain nodes, Oracles observe transactions of external networks. The network reacts as a pacemaker to transactions on external blockchains with a minimal block delay while operating in Layer2 similar fashion where the source of truth comes externally. The Oracles collect transactions coming from blockchains as well as the proof or recommendation collected when interacting with the Attrace App (or via partner integrations) to recreate blocks of referral specific transactions.

The goal of the network is to reach an agreement on the state of a referral by detecting the added value that came as a result of a successful referral, and assign rewards to those involved. The agreement is reached by majority, via ongoing Oracle voting where the weight depends on the amount of $ATTR stake relative to the rest of the network.

Since Oracles have the responsibility of detecting the value and assigning rewards, the trust and security of the protocol depends on them. To ensure that the protocol is secure and that it can be trusted, Oracles are required to provide a sufficient amount of stake in $ATTR. In return for securing the protocol, the stakes receive protocol fees and staking rewards.

The Oracles are envisioned as a fully decentralized network that is publicly operated by anyone who stakes the required amount of $ATTR. Having a public oracle network is one of the major milestones for Attrace and can be found on the roadmap. Once the Oracle network becomes public, all $ATTR holders will be able to join it. Joining a network will be made possible by operating the Oracle or by Delegating Stake to an Oracle. The role of ATTR and Oracles, as well as the tokenomics of staking is explained in the Staking Oracles section of Tokenomics.

Rewards

To view staking rewards please check this section.