Getting your asset on the Stellar Reflector Oracle is a smart move to ensure that its price is tracked reliably across the Stellar network. A steady price feed boosts your asset’s credibility and makes it easier for various DeFi apps to use your asset effectively.
Below is a simple, step-by-step guide to get your asset listed on the public oracle price feed.
Step 1: Make Sure You Have Enough Liquidity
For the oracle to work properly, real trading activity is a must. Start by ensuring your asset has enough liquidity on the Stellar Decentralized Exchange (SDEX). Also, consider adding liquidity on Soroban-based pools (like Aquarius pools). This extra liquidity isn’t just for smoother price updates — it’s also vital for other DeFi protocols that need robust liquidity to handle liquidations when the market gets shaky.
Step 2: Keep the Trading Flowing
For the oracle to keep reporting accurate prices, your asset needs to be traded regularly. Aim for at least one trade every five minutes. Whether you’re using a market maker or setting up an automated trading bot, keeping a steady flow of trades is key to reliable price reporting.
Step 3: Seek Community Feedback
Before submitting your proposal, take some time to gather input. Reach out directly to node operators or join the Reflector Discord channel to get tips and insights. This early feedback can help you refine your proposal and increase your chances of approval.
Step 4: Submit Your Proposal to the Reflector DAO
Once you’ve incorporated community feedback, it’s time to submit your proposal:
- Outline Your Asset: Detail your asset and how it’s ready for reliable price reporting.
- Proposal Cost: A deposit of 5,000 XRF tokens is required (currently about $0.25 each).
- Ready? Submit your proposal.
Step 5: DAO Voting
Reflector DAO members will review your proposal within the next 14 days and will collectively vote for a decision. If your proposal is approved, deposit tokens are burned as a commitment by the node operators.
If it’s not accepted, you’ll receive 75% of your deposit back. Remaining deposited tokens get burned to prevent DAO spamming and ensure that only relevant proposal will make it to the DAO review pipeline.
Step 6: Integration and Keeping an Eye on Things
Once your proposal is approved:
- The node operators will add your asset’s price feed to the Reflector Oracle, making it available across the Stellar ecosystem. Now’s the time to market your new price feed. Connect with other dApps and platforms — like getting listed within a Blend pool — to integrate your asset further into the ecosystem.
- Ongoing Monitoring: Continue to ensure that liquidity remains strong and that trades happen regularly. Keeping the momentum up is essential for maintaining an accurate price feed.
Wrapping Up
Listing your asset on the Stellar Reflector Oracle is a straightforward process that pays off. By ensuring liquidity, keeping trades active, and navigating the DAO proposal process (with a little help from the community), you’ll set your asset up for success across various Stellar-based applications.
For more details, check out these resources:
Taking these steps will help ensure your asset benefits from a reliable price feed, making it more attractive and robust within the Stellar ecosystem.
