this post was submitted on 10 Jan 2024
4 points (100.0% liked)

Monero

1673 readers
18 users here now

This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

GitHub

StackExchange

Twitter

Wallets

Desktop (CLI, GUI)

Desktop (Feather)

Mac & Linux (Cake Wallet)

Web (MyMonero)

Android (Monerujo)

Android (MyMonero)

Android (Cake Wallet) / (Monero.com)

Android (Stack Wallet)

iOS (MyMonero)

iOS (Cake Wallet) / (Monero.com)

iOS (Stack Wallet)

iOS (Edge Wallet)

Instance tags for discoverability:

Monero, XMR, crypto, cryptocurrency

founded 1 year ago
MODERATORS
 

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 ?

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 4 points 10 months ago

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.