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Price Discovery: Oracle Strategy for H€/HAu Tokens

Status: Research Needed
Priority: Medium (needed before Phase 0 launch)
Owner: TBD

Purpose

Document the oracle strategy for H€ and HAu token price discovery, including:

Primary oracle sources
Fallback oracle sources
Oracle chain complexity (direct vs multi-hop)
Reliability requirements
Failure modes and recovery

Research Questions

H€ (Euro-Pegged) Oracles

Primary path:

Which BCH/EUR oracles are available? (GeneralProtocol, CoinGecko, others?)
What is their update frequency?
Historical uptime/reliability data?
API availability and rate limits?

Fallback path:

BCH/USD oracles (which sources?)
USD/EUR oracles (which sources?)
How to detect primary failure and switch to fallback?

HAu (Gold-Pegged) Oracles

EUR-denominated gold (preferred):

Do EUR/XAU oracles exist? (LBMA publishes in USD, but conversions available?)
Which data providers offer EUR-denominated gold prices?
Update frequency and reliability?

USD-denominated gold (fallback):

LBMA AM/PM London Fix (twice daily, reliable?)
CME gold futures (continuous, more volatile?)
COMEX spot prices (exchange hours only?)
Which provides best reliability for AnyHedge contracts?

Oracle chain complexity:

If using USD-denominated gold: BCH/EUR + EUR/USD + USD/XAU = 3 oracles
Can we simplify to BCH/USD + USD/XAU = 2 oracles?
What’s the error propagation through multiple oracle hops?

Oracle Failure Scenarios

What happens if:

Primary oracle goes offline during contract creation?
Primary oracle diverges significantly from fallback (>1% difference)?
Both primary and fallback fail simultaneously?
Oracle is manipulated or reports incorrect prices?

Mitigation strategies:

Multiple oracle sources (median of 3?)
Circuit breakers (halt minting if deviation >X%)
Manual override capability (governance)
Graceful degradation (refuse to mint, don’t break existing tokens)

Integration with AnyHedge

Questions for GeneralProtocols (AnyHedge developers):

Which oracle feeds does AnyHedge currently support?
Can we add custom oracle sources?
How does AnyHedge handle oracle failures during settlement?
What’s the oracle update frequency requirement?
Can contracts use multiple oracles with fallback logic?

Phase 0 Minimal Viable Strategy

For launch, we need:

H€:

Primary: BCH/EUR (CoinGecko API)
Fallback: BCH/USD (CoinGecko) + USD/EUR (ECB reference rate)
Update frequency: 1 minute (CoinGecko API limit)

HAu:

Primary: BCH/USD (CoinGecko) + USD/XAU (LBMA AM/PM Fix)
Fallback: Same sources, different timing windows
Update frequency: BCH/USD (1 min), USD/XAU (twice daily)
Note: Twice-daily XAU updates may be insufficient for short-duration contracts (1-3 days)

Research needed: Can we find intraday gold price feeds (CME futures?) for better HAu granularity?

Next Steps

Survey available BCH/EUR oracle providers
Survey available EUR/XAU and USD/XAU oracle providers
Contact GeneralProtocols about AnyHedge oracle integration
Test CoinGecko API reliability and rate limits
Design oracle fallback logic (when to switch, how to detect failure)
Document final oracle strategy in this file
Update stability-layer/README.md with confirmed oracle sources

References

This is a placeholder. Research needed before Phase 0 launch to validate oracle strategy and fallback mechanisms.

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