TRBUSD
Tellor / United States dollar
crypto OKX

Tellor is a decentralized oracle on the Ethereum network that provides trustless access to valuable off-chain data (e.g. internet APIs) and enables this data to be securely placed on-chain for use in DeFi. Tellor provides the infrastructure for decentralized applications (dApps) to access off-chain data by using a reward mechanism to incentivize data providers, or miners. The system utilizes a network of staked data reporters (previously called miners) that compete to submit the official values for requested data that data requesters, usually dApps, are querying. Reporters must stake 100 Tributes (recently reduced as of TellorX, the most recent version of Tellor) in order to participate. The Tellor Oracle is an on-chain data bank where data providers (reporters, previously called miners) compete to add the data points. The TRB token is minted for incentives paid to the reporters for providing data. Parties pay TRB to submit a request for data to the Oracle. Data requesters can tip data reporters to incentivize faster data updates but reporters can also choose to submit for the values they want. This tipping system removes the need for off-chain agreements to source data, and helps the oracle be as fast as needed. Based upon the reward assigned to each request, the Oracle selects the best-funded query every 5-10 minutes to create a challenge for data reporters to solve. Each query collects specific data and makes it available on-chain. After five values are received, the official value is selected and saved on-chain. Tellor holders can dispute the validity of the reported data over the next two days. The team have added an additional layer of security through the deposit of TRB which reporters are required to stake before they are allowed to report and risk losing their stake if their submitted values are successfully disputed. Any TRB holder can also challenge the validity of submitted data by paying a fee in TRB tokens. If challenges, the disputed data then goes into a 7 day voting period where all TRB holders vote on its validity. If any parties dispute the result of the vote by paying a higher dispute fee, the voting period doubles until there are no more disputes. If the value is false, reporters will lose their stake.