DLC Markets open sources its oracle Pythia

We're excited to open source Pythia, DLC Markets' dedicated price oracle system, under the MIT Licence on GitHub.

For more information on DLC Markets, our bilateral options booking & settlement platform, check this post.

What is Pythia?

Pythia is our implementation of p2pderivatives-oracle designed for DLC (Discreet Log Contract) trading.

Pythia is built in Rust - blazingly fast 🚀, 100% safe 🦀 - and forked from sibyls, the oracle of lava.xyz.

It provides real-time, reliable BTC/USD price attestations that are essential for executing and settling DLC trades on the Bitcoin blockchain.

👀 Here's a real-world example of Pythia in action: a DLC option settlement transaction on the Bitcoin blockchain.

The transaction was successfully executed using three key components: presignatures from two DLC Markets user accounts, the counterparties of the Bitcoin option trade, and a price attestation from the Pythia oracle.

Key Features

Reliable Price Data

Pythia currently certifies BTC/USD price from LN Markets, with built-in support for multiple price feed sources.

The system features configurable price announcement and verification schedules, ensuring full operational flexibility.

All price data is persistently stored using PostgreSQL, guaranteeing data reliability and accessibility.

Developer-Friendly Integration

We've designed Pythia with developers in mind, offering a comprehensive REST API for historical data queries and a WebSocket API for real-time price attestations.

To simplify integration, we provide a TypeScript wrapper that makes it easy to incorporate Pythia into existing systems.

The system also supports efficient batch queries for announcements, allowing developers and users to efficiently retrieve all announcements for theirs contracts.

Enterprise-Grade Infrastructure

At its core, Pythia runs on a robust PostgreSQL database, ensuring reliable data storage and quick access.

The system's scheduling mechanism uses cron expressions for precise control over price announcements and verifications.

The architecture is built to be extensible, allowing for the addition of new price feeds and asset pairs as needed.

For development and testing purposes, Pythia includes a debug mode that enables thorough testing of the system's functionality.

Technical Highlights

Pythia is designed with flexibility and reliability in mind.

The system can be configured through CLI arguments or environment variables, making it adaptable to various deployment scenarios.

It supports multiple asset pairs in a single instance.

For easy deployment, Pythia includes Docker support, simplifying the setup process for developers and system administrators.

Looking Ahead

We plan to expand Pythia's capabilities by adding support for additional asset pairs, forward prices and certify indexes combining multiple price feeds.

The API will continue to evolve with new features and improvements based on user feedback and market needs.

Try Pythia

We invite developers and traders to explore Pythia and see how it can enhance their DLC trading experience.

Our oracle is open source under the MIT Licence and available on GitHub.

For more information about integrating with Pythia, visit our documentation and reach out to our team at contact@dlcmarkets.com.

About DLC Markets

We invite financial institutions, professional traders, and Bitcoin enterprises to connect with us now at contact@dlcmarkets.com and visit DLC Markets to discover how you can be among the early access partners to trade Bitcoin options the way they were meant to be traded—on-chain secure, non-custodial, and on your terms.

Early adopters will benefit from:

• Designing their bespoke specifications
• Shaping with us future product development according to their requirements
• Dedicated onboarding support
• Exclusive fee structure

Trade smarter. Trade safer. Trade with DLC Markets.