Resilient Price Oracle
Last updated
Last updated
In its previous version, Venus was fully reliant on the Chainlink price oracle for fetching prices. This dependence, while generally reliable, created a single point of failure. An erroneous or stale price could, without a secondary mechanism for validation, pose threats such as unwarranted liquidations or inflated borrowing.
In light of these risks, Venus V4 introduces the Resilient Price Oracle, a more robust system capable of pulling data from multiple sources for cross-validation. The Resilient Oracle is equipped with an algorithm to verify prices between two or more sources, providing a safeguard in cases where the primary source proves unreliable or fails.
Furthermore, the improved oracle infrastructure supports the integration of new price oracles in real-time and permits the enabling and disabling of price oracles per token.
The Resilient Price Feeds replace the single source price provider used in the Comptroller contract with a more robust and reliable solution. This new component not only fetches asset prices from various on-chain sources but also includes a fallback mechanism to protect the protocol from oracle failures. Presently, this feature incorporates Chainlink, RedStone, Pyth Network and Binance oracles, with the possibility of adding more in the future.
The Resilient Price Feeds system can be configured by the Venus governance via Venus Improvement Proposals (VIPs). These configurations include pause and resume functionalities for the oracle, price feed configurations, and fixed price settings, among others.
In implementing the Resilient Price Oracle, several safety measures have been adopted to ensure the security and continuity of the Venus Protocol:
Price Continuity: Asset prices pre and post upgrade were validated in a simulated environment to ensure consistency.
Testnet Deployment: The oracles have been deployed and tested in the Venus Protocol testnet environment.
Auditing: The code has been audited by OpenZeppelin, Peckshield, Certik, and Hacken.
For correlated tokens, like Liquid Staked Tokens (LST), best practice suggests oracles quote first smart contracts to get the exchange rate between the correlated assets, and then multiply that by the USD market price of the second token to complete the calculation.
In Venus we use dedicated oracles for each LST asset in order to calculate the price as follows:
convert the LST to the underlying tokens (using the exchange rate provided by the LST contracts)
convert the underlying token calculated in the previous step to USD, using a “traditional” oracle based on market price
The current list of correlated token oracles in Venus is:
PendleOracle. It returns the USD price of the PT Pendle token, converting on-chain from the PT token to the underlying token using a Pendle market contract.
Assumption on Liquid Staked Tokens
WeETHOracle and WstETHOracle assume a 1:1 price ratio between the LST and the underlying asset (e.g. 1 ETH = 1 stETH). The primary risks associated with this approach involve smart contract vulnerabilities and counterparty risks that could impact the redemption processes of the LSTs. In cases of substantial counterparty risk, particularly if the underlying tokens are not redeemable against the LSTs, the direct smart contract pricing might become unreliable. Here's our plan to mitigate such situations:
We will deploy two on-chain oracles for each LST token:
The first oracle will return the price based on the assumption of a 1:1 ratio between the LST token and the underlying asset.
The second oracle will return the price based on a secondary market feed (using Chainlink, for instance).
By default, the ResilientOracle will be configured to use only the oracle assuming a 1:1 ratio between the LST asset and the underlying, serving as the primary oracle.
The second oracle, which derives price from the market price feed without assuming a 1:1 ratio, will not be initially configured in our ResilientOracle.
We have implemented an off-chain monitoring system to track the prices returned by both oracles. In the event of a significant deviation over an extended period, the situation will be reviewed. It will be determined whether to switch the primary oracle from the one assuming a 1:1 ratio to the one that does not, or whether to temporarily include the latter as a pivot oracle in the ResilientOracle configuration.
Core
AAVE
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Core
ADA
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Core
BCH
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-
Core
BETH
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-
Core
BNB
Upper bound: 1.01. Lower bound: 0.99
Core
BTCB
Upper bound: 1.01. Lower bound: 0.99
Core
BUSD
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Core
CAKE
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Core
DAI
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Core
DOGE
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Core
DOT
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Core
ETH
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Core
FDUSD
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Core
FIL
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Core
LINK
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Core
lisUSD
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Core
LTC
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Core
LUNA
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Core
MATIC
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Core
PT-sUSDE-26JUN2025
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Core
SOL
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Core
SolvBTC
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Core
sUSDe
Upper bound: 1.01. Lower bound: 0.99
Core
SXP
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Core
THE
-
-
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Core
TRX
-
Upper bound: 1.01. Lower bound: 0.99
Core
TRXOLD
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Upper bound: 1.01. Lower bound: 0.99
Core
TUSD
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Core
TUSDOLD
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Core
TWT
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Core
UNI
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Core
USDC
-
-
Core
USDe
Upper bound: 1.01. Lower bound: 0.99
Core
USDT
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-
Core
USD1
Core
UST
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Core
VAI
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Core
WBETH
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Core
XRP
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Core
XVS
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Stablecoins
lisUSD
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Stablecoins
USDD
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-
Stablecoins
USDT
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-
Stablecoins
EURA
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-
DeFi
BSW
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-
DeFi
ALPACA
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DeFi
USDT
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-
DeFi
USDD
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-
DeFi
ANKR
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DeFi
ankrBNB
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-
DeFi
TWT
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-
DeFi
PLANET
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GameFi
RACA
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GameFi
FLOKI
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GameFi
USDD
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-
GameFi
USDT
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-
Liquid Staked BNB
ankrBNB
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Liquid Staked BNB
asBNB
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-
Liquid Staked BNB
BNBx
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-
Liquid Staked BNB
PT-clisBNB-24APR2025
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Liquid Staked BNB
stkBNB
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Liquid Staked BNB
slisBNB
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-
Liquid Staked BNB
WBNB
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-
Meme
BabyDoge
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Meme
USDT
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Tron
BTT
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-
Tron
TRX
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Tron
WIN
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Tron
USDD
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-
Tron
USDT
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-
Liquid Staked ETH
ETH
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-
Liquid Staked ETH
weETH
Upper bound: 1.01. Lower bound: 0.99
Liquid Staked ETH
wstETH
Upper bound: 1.01. Lower bound: 0.99
BTC
BTCB
Upper bound: 1.01. Lower bound: 0.99
BTC
PT-SolvBTC.BBN-27MAR2025
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Core
crvUSD
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Core
DAI
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Core
TUSD
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Core
USDC
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Core
USDT
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Core
WBTC
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Core
WETH
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Core
FRAX
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Core
LBTC
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Core
EIGEN
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Core
sFRAX
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Core
eBTC
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Core
USDS
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Core
sUSDS
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Core
BAL
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Core
yvUSDC-1
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Core
yvUSDS-1
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Core
yvUSDT-1
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Core
yvWETH-1
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Curve
crvUSD
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Curve
CRV
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Ethena
PT-sUSDE-27MAR2025
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Ethena
PT-USDe-27MAR2025
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-
Ethena
sUSDe
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-
Ethena
USDC
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-
Ethena
USDe
Upper bound: 1.01. Lower bound: 0.99
Liquid Staked ETH
ezETH
Upper bound: 1.01. Lower bound: 0.99
Liquid Staked ETH
PTweETH-26DEC2024
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-
Liquid Staked ETH
pufETH
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-
Liquid Staked ETH
rsETH
Upper bound: 1.01. Lower bound: 0.99
Liquid Staked ETH
sfrxETH
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-
Liquid Staked ETH
WETH
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-
Liquid Staked ETH
wstETH
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-
Assume 1:1 for ETH:stETH
Liquid Staked ETH
weETH
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-
Assume 1:1 for ETH:eETH
Liquid Staked ETH
weETHs
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Core
BTCB
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Core
ETH
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Core
FDUSD
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Core
USDT
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Core
WBNB
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Core
WBTC
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Core
WETH
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Core
USDC
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Core
USDT
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Core
gmWETH-USDC
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Core
gmBTC-USDC
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Core
ARB
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Liquid Staked ETH
weETH
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Liquid Staked ETH
wstETH
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Liquid Staked ETH
WETH
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Core
WBTC
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Core
WETH
-
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Core
USDC
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Core
USDC_E
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Core
USDT
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Core
ZK
Upper bound: 1.01. Lower bound: 0.99
Core
wstETH
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Core
wUSDM
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Core
zkETH
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Assume 1:1 for WETH:rzkETH
Core
WBTC
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Core
WETH
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Core
USDC
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Core
USDT
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Core
OP
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Core
cbBTC
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Core
WETH
-
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Core
USDC
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Core
wsuperOETHb
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Core
wstETH
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Core
WETH
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Core
USDC
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Core
UNI
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For more detailed information, refer to the following resources:
AnkrBNBOracle. It returns the USD price of the token, converting on-chain from ankrBNB to BNB using the exchange rate from the ankrBNB contract.
BNBxOracle. It returns the USD price of the token, converting on-chain from BNBx to BNB using the exchange rate from the contract.
eBTCAccountantOracle (instance of EtherfiAccountantOracle). It returns the USD price of the token, converting on-chain from eBTC to WBTC using the exchange rate from the contract.
SFraxOracle. It returns the USD price of the token, converting on-chain from sFRAX to FRAX using the exchange rate from the sFRAX contract.
SlisBNBOracle. It returns the USD price of the token, converting on-chain from slisBNB to BNB using the exchange rate from the contract.
AsBNBOracle. It returns the USD price of the token, converting on-chain from asBNB to slisBNB using the exchange rate from the contract.
StkBNBOracle. It returns the USD price of the token, converting on-chain from stkBNB to BNB using the exchange rate from the contract.
WBETHOracle. It returns the USD price of the token, converting on-chain from WBETH to BNB using the exchange rate from the WBETH contract.
WeETHOracle. It returns the USD price of the token, converting on-chain from weETH to eETH using the exchange rate from the contract, and assumming 1 eETH = 1 ETH.
WeETHsOracle (instance of WeETHAccountantOracle). It returns the USD price of the token, converting on-chain from weETHs to WETH using the exchange rate from the contract.
WstETHOracle. It returns the USD price of the token, converting on-chain from wstETH to stETH using the exchange rate from the contract, and assumming 1 stETH = 1 ETH.
