​
Price Feeds Overview

Tails Exchange provides traders with access to an extensive selection of trading pairs across various markets, leveraging aggregated pricing data from multiple endpoints to establish a robust dynamic average. The computational work happens off-chain, with prices being submitted on-chain alongside a verifiable historical record of all previous price submissions.

Our price feeds are secured through reference on-chain oracles, with Stork & Pyth being our preferred provider due to its high speed approach that aligns well with Tails Exchange’s aggregated pricing methodology. Additionally, any reference oracle can be configured to soft-peg to the price feed of specific trading pairs.

​
Price Update Mechanism

When a user submits an order, it enters a market-making settlement period where the asset is priced based on its risk. A price update is then submitted on-chain, and the user’s trade becomes live and settled. This process occurs within 2-3 seconds at most. It does not rely directly on the oracle; instead, it uses real-time prices from the exchanges we aggregate prices from, bound by a percentage to the Stork/Pyth oracle price.