🔢Price Oracle

Price Oracle contracts

Asset	Ethereum Contract	Base Contract
mTBILL	0x056339C044055819E8Db84E71f5f2E1F536b2E5b	0xDD629E5241CbC5919847783e6C96B2De4754e438
mBasis	0xE4f2AE539442e1D3Fb40F03ceEbF4A372a390d24	0x6d62D3C3C8f9912890788b50299bF4D2C64823b6
mBTC	0xA537EF0343e83761ED42B8E017a1e495c9a189Ee	N/A

Price Oracle Methodology

The oracle infrastructure is based on a proof-of-reserve design. The orcale-price is updated with the performance of the reference value of the underlying.

The Redemption Amount is calculated on the basis of a hypothetical best-efforts liquidation of assets reflecting the number of shares of the Underlying that corresponds to the number of Tokens redeemed by the Tokenholder. However, under certain market conditions, discrepancies between the oracle price and the actual market price may occur due to volatility or delays in price propagation. While the calculation aims to mirror the market value of the underlying assets, actual redemption values may vary due to market conditions or operational constraints during the liquidation process.

Instant redemptions are atomically available at the designated on-chain oracle price.

Step	Who	Action
Report Preparation	Midas	Midas reviews the performance of the reference value of the respective underlying , and prepares a report.
Price Propagation Initiation	Midas	Midas proposes a new price using their nested gnosis safe. The price will only be propagated once Ankura signs with their nested gnosis safe.
Report validation	Ankura Trust	Ankura leverages its read-only and confirms the the report Midas prepared.
Report publishing	Ankura Trust	Ankura publishes on Midas’ public sharepoint the final report. A link to the sharepoint is always accessible from www.midas.app
Price Propagation	Ankura Trust	Ankura confirms the price via their nested gnosis safe, and the oracle price is updated after the transaction is executed

Verification of Price Oracle

Ankura Trust is engaged as verification agent to provide an independent verification for assets that are held off-chain (e.g. mTBILL). The verification agents checks daily that the collateral meets the eligibility criteria and verifies reference price of the respective underlying.