Tellor Newly Designed Oracle

Tellor announced the release of the next generation in oracle design.

Since the initial mainnet release of Tellor in 2019, the team and community has continued to work towards decentralization.

Tellor’s goal in pushing oracle design forward has been largely focused on unstoppability, flexibility, and becoming truly community driven.

In June, the TellorX whitepaper was released. This outlined a new direction in DeFi oracles that mixes new tokenomics, more decentralization and lower token minimums to broaden the members of our community who can get involved.

In September, they sent the TellorX code to audit.

🔹Innovation behind TellorX

The new Tellor expands cross-chain compatibility and gains the ability to support virtually any data request.

The upgrade also includes a new staking pool, Tellor treasuries, which is a way for token holders to participate in Tellor’s monetary policy and receive staking rewards for doing so.

The new oracle design also moves from proof-of-work to a proof-of-stake model for data reporters. The minimum holding requirement to become a data reporter decreases to 100 TRB from 500 TRB.

Tellor is a permissionless community of token holders, data providers, and validators. Together, they cryptographically secure putting real world data on-chain. Their goal is to build the most secure, unstoppable oracle in DeFi for a more open digital economy. Tellor helps a mix of DeFi projects including stablecoins, insurance, options and derivatives and lending applications with accessing secure, trustless data.

đź“° INFO

Tellor Newly Designed Oracle

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