Oracle prices
An order book shows the price at which Novrinex traders are willing to trade. The network also needs an independent view of the underlying market to calculate funding, measure account health, and settle a contract safely.
Oracles provide that view. Approved reporters submit signed observations, and the network combines them under rules defined for each feed.
Different prices have different jobs
Section titled “Different prices have different jobs”The index price represents the external asset or reference market tracked by the perpetual contract. It anchors the contract and its funding calculation.
The mark price is the risk price used for unrealized profit and loss, margin, and liquidation. It is separated from the latest fill so that one unusual order-book trade cannot directly decide account solvency.
The funding price provides the input required by the market’s funding policy. The settlement price determines the final value when a contract is closed for settlement.
A feed is approved for a particular purpose. A value submitted for one purpose cannot quietly replace another.
From observations to an accepted price
Section titled “From observations to an accepted price”Each feed names its approved reporters, their weights, the minimum participation required, how old an observation may be, and how far it may deviate from the others.
The network sorts valid observations and calculates a weighted median. It removes values outside the permitted deviation, checks that enough reporter weight remains, and calculates the accepted median from the filtered set.
This process reduces the influence of a single extreme value while requiring multiple approved sources to agree.
Stale or disputed data
Section titled “Stale or disputed data”Price age is measured by block height. An observation older than the feed’s limit is ignored.
If the remaining observations no longer meet quorum, the feed pauses. Markets that depend on it stop accepting actions that create new exposure. Cancellations, liquidations, and other actions that reduce risk remain available.
Recovery
Section titled “Recovery”A paused feed must produce the configured number of consecutive valid rounds before it becomes active again. One normal-looking update is not enough to erase a period of uncertainty.
The market resumes from a price supported by current reporter participation and the feed’s normal deviation rules.