Collateral Support and Pricing Oracle Information (V2)
Upon release of the ERD V2 protocol, we will introduce support for multicollateral loans. We will provide collateral support for an index of blue-chip DeFi ERC-20 tokens, such as WBTC, LINK, UNI, and others to be determined closer to launch. Additional token collateral support will also be introduced through governance votes, with the prerequisite being that it is decentralized.
Oracle Selection and Reliability
Chainlink will continue to serve as our primary price service oracle. Chainlink is well respected for its robustness and reliability, which will serve an important role in the ERD protocol. In the unlikely event where Chainlink encounters disruptions, all transactions associated with the ERD protocol will be rolled back until the oracle is restored and normalcy is reinstated. Such disruptions could be due to:
Chainlink price feed has not been updated for over 4 hours.
Chainlink's response is compromised – it either reverts, delivers an incorrect price, or provides an invalid timestamp.
A price deviation of >50% occurs between two consecutive Chainlink price updates.