Feedio app is a node-js powered server that will periodically trigger the price fetch and update mechanism. At each tick the following steps will happen - core.service
- Fetching the price from the providers - Exchange Aggregation (Binance, Coinmarketcap and Coingecko) and Chainlink Price Feeds.
- Combine the prices to provide a single price point for a token (Currently the weightage of the providers are set in the ratio of 80:20 respectively)
- On-chain prices are retrieved from the Feedio Primary contract
- Prices are compared with the current prices retrieved and the on-chain prices. If the relative difference is above a certain threshold then the prices will be updated on chain for the tokens
- Decimal places and rounding off is also done. The thumb rule is approximately 8-9 significant digits with a cap of 6 decimal places. The decimal information is also provided by the smart contract as calculated.