Monero price tracking question

Following delistings, Monero will need to also decentralize it's price tracking. How can the monero price can be known in a decentralized way ? Like aggregating DEX prices in a oracle ? Or fetching directly DEX public peers ?

4 points · 6 comments · view on lemmy.world

6 Comments

XmrLovingAncap@monero.town · 4 pts · 2y (1 reply)

I know that localmonero offers an api that gives you a price based on the trades on lm. https://localmonero.co/statistics

I have no idea tho if there's a way planed to check for average price in haveno or serai.

VolunTerry@monero.town · 2 pts · 2y

This is good. Hopefully the other decentralized services that spring up will provide data so something can be set to ingest all the data aggregate it as tusker suggested.

tusker@monero.town · 4 pts · 2y

This is a great question, I hope we will have some reliable way of aggregating all the DEX sources, sounds like a good opportunity for some talented coders.

chaser@monero.town · 4 pts · 2y

on the major existing decentralized exchange, Bisq, you already have a publicly observable price feed for XMRBTC. you can calculate XMRUSD based on that and a BTCUSD price feed that you trust.

DEXs that are in the making, namely Serai and Haveno, both plan to have at least one XMR pair with an Ethereum-based dollar-pegged coin. I suppose, although I'm not sure, that at least in the case of Serai the trades on that pair will have publicly observable prices.

Haveno will also have non-blockchain, actual fiat (cash, wire, payment apps) pairs with XMR.

you can take sources like this and calculate an average or a median. current price aggregators, like coin listing sites, will probably do the same, so it's likely that even in a DEX-only future you'll get your prices from the same sources as today.

Horixon@monero.town · 1 pts · 2y (1 reply)

Coinmarketcap and Coingecko track both DEX and CEX prices.

snitchy_asc@monero.im · 2 pts · 2y

Coingecko is doing it, not coinmarketcap