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Oracle Loan Smart Contract

This smart contract enables iDNA loans for running oracle votes on the Idena Blockchain.

Web UI

A web interface to easily interact with the deployed smart contract: https://github.com/Zen-44/oracle-loan-ui

Key Principles

  • anyone can deposit funds in the contract which are used to hand out loans
  • a fee is collected for every loan and the fees are distributed to all depositors according to their share of the fund pool
  • anyone can propose an oracle (as long as it follows some technical rules)
  • for an oracle to get funded it also needs to be approved by the review committee (to avoid extreme cases and have better control over the system)

Oracle Vote Requirements

For an oracle to be considered valid, it needs to:

  • have the correct refund address
  • have no owner fee set
  • start within 2 weeks (from the moment it is proposed)
  • last less than ~4 weeks once started (120960 blocks)

Other Considerations

  • funding oracles can be paused by the committee president (other operations can not be paused, e.g. withdrawals)
  • the committee president can withdraw untracked balance (to avoid stuck funds)
  • if a withdrawal exceeds the available balance of the contract, it will need to wait for enough loans to be returned
  • the committee president may designate and dismiss the review committee members