In this video clip, SupraOracles CEO Joshua Tobkin explains to RDX Works LTD CEO Piers Ridyard how SupraOracles can help prevent flash loan attack oracle manipulation.
Specifically, SupraOracles is working with researchers and DeFi protocols to develop a better way for automated market makers (AMMs) to derive more accurate crypto prices in lieu of using the traditional x * y = k model. A better oracle pricing model can eliminate slippage and impermanent loss, preventing oracle price manipulation via flash loan attacks.
In addition to collecting fast, accurate algorithmic data on asset prices, SupraOracles can also collect non-algorithmic long-tail data such as sports or international election results by leveraging individuals or organizations as data providers.
To do this, SupraOracles optimistic oracles can introduce the question and set a challenge period, allowing users to challenge the results of one data provider and increase the stakes of the data challenge, allowing the correct data provider to collect the stake of the incorrect data provider.
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