Oracles

An oracle is a service that takes off-chain information and transfers it to on-chain contracts.

Having timely access to accurate asset prices is essential for Hover's operations. Processes such as the borrowing of assets, liquidations, and interest rate changes require this data to run smoothly.

Hover utilizes real-time data from the Pyth Network for its markets. Pyth is an oracle network that provides low-latency market data from over 95 first-party publishers. With their innovative pull oracle design, Hover is able to “pull” the latest Pyth price on demand.

Learn more about Pyth from their website and documentation.