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id Title Status Author Description Discussions to Created
TIP-25 Integrate AAVE, SOL and UNI as available assets on Thales Approved padzank (@padzank) Add AAVE, SOL and UNI price feeds from Chainlink to Thales on Optimism and enable market creation around those assets price feeds. https://discord.gg/rPpPcMXSeU 2022-01-31

Simple Summary

Add Aave (AAVE), Solana (SOL) and Uniswap token (UNI) price feeds from Chainlink to Thales and enable market creation around those assets price feeds on Optimism.

Abstract

Until recently, only available Chainlink data feeds on Optimism were BTC, ETH, LINK and SNX. With Chainlink expanding its offering of data feeds to Optimism L2 network, this TIP proposes to integrate AAVE, SOL and UNI price feeds into PriceFeed.sol contract and thus enable market creation around those assets on the Thales marketplace.

Motivation

Most derivative trading products regarding these assets are based on centralised exchanges and are exclusively in the form of perpetual futures. With offering Positional Markets for assets such as AAVE, SOL and UNI, Thales has the opportunity to become one of the firsts protocols to offer decentralized and immutable derivatives product for these assets on a cheap and fast layer 2 network such as Optimism.

With the recent introduction of the novel Thales AMM contract, users would also have on-demand liquidity of positional tokens for markets created around these new assets. If we consider the Implied Volatility parameter of AAVE, SOL and UNI to be the same as SNX (120%), this would allow the creation of short-term maturing markets and mid-term maturing markets around these prices. Increasing the offering of Thales marketplace with these assets creates more flexibility for market creation, Thales Royale organization and has a direct impact on driving volume and increasing the user base of the Thales protocol.

Specification

This TIP entails the Thales Protocol DAO to integrate the following Chainlink Optimism data feeds into Thales smart contracts and this way enable creation of markets around these assets:

  • AAVE/USD (Proxy: 0x338ed6787f463394D24813b297401B9F05a8C9d1)
  • EUR/USD (Proxy: 0x3626369857A10CcC6cc3A6e4f5C2f5984a519F20)
  • SOL/USD (Proxy: 0xC663315f7aF904fbbB0F785c32046dFA03e85270)
  • UNI/USD (Proxy: 0x11429eE838cC01071402f21C219870cbAc0a59A0)

Rationale

n/a

Test Cases

n/a

Implementation

n/a

Copyright

Copyright and related rights waived via CC0.