ETH

ETH Oracle Mechanisms on Katana

ETH/USD Spot oracle:

• [Chainlink ETH/USD Spot]

• [Sushi V3 USDC/ ETH 0.05% Spot]

weETH/ETH Rate Provider oracle:

• [weETH/ETH Chainlink Spot]

ETH/USD Anchor Price oracle:

• [Chainlink ETH/USD Spot]

The Algorithm of ETH/USD Max and Min Price:

• Max: ETH/USD Price=max(anchorPrice, ETH/USD Spot)

• Min: ETH/USD Price=min(anchorPrice, ETH/USD Spot)

Price Checking Mechanism:

• Anchor Price is used, while the price difference between Anchor Price and Max/Min Price exceeds the threshold

• The threshold is a governed parameter, 2% in default

Conclusion:

• Min ETH/USD Price is used for Open/Close of xPOSITION risk control, Rebalance and Liquidation if the price difference between Anchor Price and Min Price doesn’t exceed the threshold. Anchor Price is used otherwise.

• Max ETH/USD Price is used for Redeeming fxUSD if the price difference between Anchor Price and Max Price doesn’t exceed the threshold. Anchor Price is used otherwise.