What is an Oracle?

An oracle is a blockchain component that provides external real-world data and store on the Blockchain

What is the Kii Oracle?

The Kii Oracle is a decentralized price feed system that provides secure and reliable real-world market data (primarily cryptocurrency prices and tokenized assets) to the KiiChain blockchain. Unlike simple data oracles, it implements a robust validator-based consensus mechanism where:

• Trusted validators independently fetch prices from multiple exchanges

• Submitted prices are aggregated using a weighted median (where voting power corresponds to a validator's stake)

• Votes that deviate beyond predefined standard deviation thresholds are automatically rejected, preventing price manipulation

• The final agreed-upon price is recorded on-chain through on-chain Oracle module

This dual-layer system (off-chain data collection + on-chain consensus) ensures DeFi applications like stablecoins and lending protocols receive tamper-resistant price data while maintaining full decentralization.

What kind of information does the Kii Oracle store?

The Kii Oracle stores and manages:

• Cryptocurrency price pairs (e.g., BTC/USDT, ETH/USDT) with:

  • Chain-denominated values (e.g., ubtc, uusdt for KiiChain assets).

  • Deviation thresholds to prevent volatile or manipulated data.

  • Provider lists (e.g., Binance, Coinbase) for data aggregation.

• Validator-submitted prices, aggregated into a consensus value.

The data is stored on-chain in the Oracle module’s state and updated periodically by the price-feeder to ensure accuracy.

What is the Purpose of an Oracle in Kiichain?

An Oracle in Kiichain serves as the essential bridge between blockchain-based financial applications and real-world market data. It provides secure, decentralized, and tamper-proof price feeds that enable smart contracts to interact with external economic information and empowers developers to build financial tools with key requirements such as open, fair, and resilient.