Becoming an Oracle Provider
The Mento community welcomes its members to run their own Oracle Client and contribute to the decentralization and robustness of the protocol.
Requirements
If you are a developer or entity with relevant technical skills, you are welcome to run an Oracle yourself.In order to run an oracle, you can not have any conflicts of interest and have the technical ability to maintain and update oracles as needed. That means some experience with running software in the cloud, IT security, maintaining them, setting up, and responding to alerts.
Oracle client code
The public repository for the oracle client, including technical documentation, can be found here on GitHub.
How to get added as an oracle provider
If you are interested in running an oracle, please read this forum post in the Celo forum for a first overview.Generally, oracle reports on Celo are controlled by Celo governance and the next steps outline the process of how you can be added as a provider.
1.Express your interest in running an oracle in the Celo forum and on the #oracle-provider Discord channel to initiate the discussion. Here you can get in touch with Mento Labs engineers who can help you in the process, and get first feedback from the Celo community on whether there is support or objection.
2.From that discussion, you can get our technical runbook and deploy an oracle client on the Celo testnet Alfajores. Mento Labs engineers can help with this.
3.The next step would be to deploy oracles on Celo mainnet, ensure they are live and working correctly, and have the addresses ready for a governance proposal.
4.Now it is time to get a security review from the cLabs security team, for this please get in touch on the #oracle-provider Discord channel.
5.Then it is time to prepare and propose a governance proposal. Examples of previous oracle provider additions are here from Di Wu and T-Systems. This includes compensation.
6.If the proposal passes Celo governance, your client addresses will be able to report to the on-chain oracle and your compensation will be initiated.
Compensation
The Celo community informally agreed on the following compensation, pending a successful governance vote for each added provider.V3 Revised Reward Payment Framework for Operators
1.Initial Startup Payment - $6,000
2.
Will cover initial startup costs
Paid at the time of activating oracle in CELO
3.On-going Monthly Reward - Dependent on number of cStables on the network
4.
Tier 1: Up to 5 cStables - $1500 / month
Tier 2: Up to 10 cStables - $2000 / month
Tier 3: 10+ cStables - $2500 / month
5.Initial payment for new cStable launch - $300
6.
Each new stablecoin launch will have a one-time payment of $300
This will cover costs to support a new cStable as we grow.
Rewards are paid in CELO using a Celo ReleaseGold contract. Rewards will be locked for 3 months. This allows time for partners to prove the reliability of their infrastructure.
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