Slinky An enshrined restaked oracle built for the highest performance DeFi. Used by major chains and perpetuals protocols to guarantee per-block prices with millisecond refresh rates.

Jun 11, 2024 · guide incentive initia

In this article/blog we will explain and give a tutorial to set up a oracle in initia testnet.

We will not discuss the definition of initiative and network architecture in this article.

Overview

Slinky oracle - the first restaked oracle aggregator, built for perps markets & DeFi that need maximal performance & minimal trust. Powered by Skip

The Slinky Oracle consists of two main elements:

An on-chain component that retrieves price data from the sidecar with each block, forwards these prices to the blockchain through vote extensions, and compiles prices from all validators involved.
A sidecar process dedicated to polling price information from various providers and delivering this data to the on-chain component.

For additional information on the oracle, refer to the Slinky repository at https://github.com/skip-mev/slinky/.

So how to get it up and running and connected to your validator?

Guide Running Slinky Oracle

Prerequisites

Validator active set
Golang + 1.22

if you have not installed Golang

Install golang

VER="1.22.1"
wget "https://go.dev/dl/go$VER.linux-amd64.tar.gz"
sudo rm -rf /usr/local/go
sudo tar -C /usr/local -xzf "go$VER.linux-amd64.tar.gz"
rm "go$VER.linux-amd64.tar.gz"

echo -e "\n# go\nexport PATH=$PATH:/usr/local/go/bin:$HOME/go/bin" >> ~/.bashrc
source ~/.bashrc

Get slinky

As of writing this we are using tag version v0.4.3 on the initia testnet

Clone & compile

git clone https://github.com/skip-mev/slinky.git
cd slinky
git checkout v0.4.3
make install

Check if installed

slinky --help

Configuration

Create ~/.oracle

mkdir -p ~/.oracle

Download oracle.json

wget -O ~/.oracle/oracle.json "https://raw.githubusercontent.com/skip-mev/slinky/v0.4.3/config/core/oracle.json"

Check the url marketmap_api in ~/.oracle/oracle.json and make sure it is the same as grpc address in your ~/.initia/config/app.toml . Our grpc address is 0.0.0.0:1090

...
    {
      "name": "marketmap_api",
      "api": {
        "enabled": true,
        "timeout": 20000000000,
        "interval": 10000000000,
        "reconnectTimeout": 2000000000,
        "maxQueries": 1,
        "atomic": true,
        "url": "0.0.0.0:1090", // point to your grpc address
        "endpoints": null,
        "batchSize": 0,
        "name": "marketmap_api"
      },
      "type": "market_map_provider"
    }
...

Start slinky

set service

sudo tee /etc/systemd/system/slinky.service > /dev/null <<EOF
[Unit]
Description=oracle slinky
After=network-online.target

[Service]
User=$USER
Type=simple
ExecStart=$(which slinky) --oracle-config-path $HOME/.oracle/oracle.json
Restart=always
RestartSec=3
LimitNOFILE=65535

[Install]
WantedBy=multi-user.target
EOF

enable service

sudo systemctl daemon-reload
sudo systemctl enable slinky

start service

sudo systemctl start slinky
journalctl -fu slinky -o cat

you’ll see a log like this oracle-initia-guide-1

Enable Oracle Vote Extension

In order to utilize the Slinky oracle data in the Initia node, the Oracle setting should be enabled in the ~/.initia/config/app.toml.

Open and edit app.toml

###############################################################################
###                                  Oracle                                 ###
###############################################################################
[oracle]
# Enabled indicates whether the oracle is enabled.
enabled = "true"

# Oracle Address is the URL of the out of process oracle sidecar. This is used to
# connect to the oracle sidecar when the application boots up. Note that the address
# can be modified at any point, but will only take effect after the application is
# restarted. This can be the address of an oracle container running on the same
# machine or a remote machine.
oracle_address = "0.0.0.0:8080"

# Client Timeout is the time that the client is willing to wait for responses from 
# the oracle before timing out.
client_timeout = "300ms"

# MetricsEnabled determines whether oracle metrics are enabled. Specifically
# this enables instrumentation of the oracle client and the interaction between
# the oracle and the app.
metrics_enabled = "false"

make sure you save the changes

and then restart your node initia.

Done!

For check the current aggregated prices

curl localhost:8080/slinky/oracle/v1/prices | jq

Additionally

Remove and clean slinky

sudo systemctl stop slinky
sudo systemctl disable slinky
sudo rm /etc/systemd/system/slinky.service
rm $(which slinky)
rm -r .oracle
rm -r slinky

Running Slinky Oracle for Initia