We expect to provide a data-driven prediction service based on the “asset-backed events” and a data-correction mechanism based on fact checking. The oracle machine could resolve fundamental problems about trusted source of data of blockchain through the mechanism of market arbitrage.Read White Paper
As an objective measurement of value, price is an important basic component for realizing value exchange. With the rapid development of blockchain, whether value can be exchanged at low cost safely and efficiently has become a core standard for measuring the application value of blockchain. Therefore, as it were, the measurement of application value of blockchain is inseparable from the objective measurement of assets on any chain.
Since the applications on the blockchain network are operated based on smart contracts, it is impossible to directly access true and trustworthy information outside the blockchain. Hazel intends to establish a mapping relationship on price of facts through the pledging of assets. This price-fact mapping relationship will serve as an important basis for triggering smart contracts.
It refers to the participants who make data predictions with true information by pledging assets for obtaining incentives. In the process of data collection, there may be multiple predictors who will report and predict fact data.
The on-chain data finally adopted can be applied in various data usage scenarios in the blockchain ecology including mortgage lending, asset pricing and futures settlement in DeFi (decentralized finance). The data consumer needs to pay a certain amount of Tokens to obtain credible real-time data on-chain of the predicted asset.
Regarding the arbitrage space due to the information bias between the predicted data and the fact, the corrector can realize market arbitrage through the automatic exchange of the predictor’s assets to be pledged and then report the data again as a predictor. Consequently, the predicted data will be driven to infinitely approach the fact data.
The oracle machine Hazel will judge the result of a certain event with the function of information analysis, supporting that the on-chain contract automatically generates an evaluation system with the help of information analyst.
Hazel provides a trading platform for diverse event data to circulate freely.
Hazel provides reasonable prices of currencies, volatility and other information, giving strong support for DeFi.
In addition to data requirements from diversified games of on-chain contracts, Hazel also offers a fully decentralized market for event prediction.
We have many ideas gestating in mind：If you are interested in any of them, please be sure to contact us. Any other ideas will also be greatly welcomed!Contact Us