Ergo has created a new governance model for oracle pools. Governance allows oracle pool operators to change the schedule at which oracle data is broadcast to the Ergo blockchain. This update coincides with the updated version of the SigmaUSD stablecoin release, which also has a community driven governance model for the underlying bank contract.
Current oracle pool operators include ergo developers, Cardano stake pool operators, miners, and notable community members. This mix of community talent offers varied perspective and is a solid blueprint for governance updates that benefit the whole of the Ergo community.
The first community update of the oracle pools will broadcast data 3–4 times faster than the previous model. Live testing has been underway for the last week to guarantee a smooth launch.
Oracle pools in Ergo offer the potential for an additional source of revenue to miners. Read only oracle data on ergo is treated as core infrastructure, meaning as data is aggregated on chain it is open for all dapps to use. The oracle pool framework on Ergo lowers the cost of data to dapp developers, offers a decentralized mechanism of improving accuracy and offers a potential stream of revenue for miners.
Now with the latest upgrade, the community driven, tokenized governance can be used to adjust pools to provide a greater level of oversight and accuracy.