Oracle

In the PickUp protocol, services are always divided into supply side and demand side.

Due to many reasons such as the quantity relationship between supply and demand, regional habits, and historical price retrieval, price discovery relies on the supply-side ask bidding mechanism.

The supply-side ask is displayed in front of the demand side according to certain rules. The supply-side ask within the range of ±12.5% of the final price is regarded as a valid ask and can be rewarded. The reward consists of two parts: first, 50% of the commission is divided equally among the valid quotes; second, the supplier of the final price gets 100% reward token, and other valid asks will receive attenuation rewards based on the ask deviation.

Price discovery mainly depends on the supply-side ask quantity. Price credibility follows the following shock convergence curve. The y-axis is the price credibility (0 means credible, 1 means untrustworthy), and the x-axis is the ask quantity: