Oracles and Price Feeds

Adrena uses oracle price feeds to determine trade execution prices. All trades execute at oracle price with zero slippage.

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Multi-Provider Oracle System

As of Release 39, Adrena sources prices from multiple independent oracle providers. Each provider covers a distinct feed ID range:

Provider	Feed ID Range	Mechanism
ChaosLabs	0 - 29	Off-chain signed batch prices (secp256k1)
Autonom	30 - 141	Off-chain signed batch prices (secp256k1) + market session data
Switchboard	142 - 255	On-chain quote account verification (ed25519 precompile)

Switchboard prices are verified entirely on-chain via the ed25519 precompile. ChaosLabs and Autonom deliver signed price batches that are secp256k1-recovered and validated on-chain before use.

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Multi-Oracle Consensus

A MultiOracleConfig is attached to each pool, controlling how prices from multiple providers are reconciled:

Parameter	Description
min_agree	Minimum number of providers that must agree on a price (1-3)
price_diff_threshold_bps	Maximum allowed price deviation between providers (100 BPS = 1%)
staleness_seconds	Maximum age of an accepted price (default: 7 seconds)

Default configurations

Both pool types ship with the same baseline multi-oracle config. Governance can tune these post-migration via set_pool_oracle_config.

Standard (GMX style) Pools - crypto assets:

• Providers order: Autonom → Switchboard → ChaosLabs
• min_agree: 1
• price_diff_threshold_bps: 100
• staleness_seconds: 7
• asymmetric_liquidation: disabled
• circuit_breaker_enabled: disabled

Autonom Pools - RWA/synthetic assets:

• Providers order: Autonom → Switchboard → ChaosLabs
• min_agree: 1
• price_diff_threshold_bps: 100
• staleness_seconds: 7
• asymmetric_liquidation: disabled
• circuit_breaker_enabled: disabled

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Conservative Pricing

To protect the liquidity pool against adverse price selection:

• Long positions are priced using the oracle's lower bound - the worst case for a long entry/exit
• Short positions are priced using the oracle's upper bound - the worst case for a short entry/exit

This means traders always transact at the conservative end of the oracle's confidence interval, reducing the pool's exposure to oracle manipulation.

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Price Staleness and Timestamp Validation

• Prices older than staleness_seconds (7s default) are rejected
• Prices with a timestamp more than 2 seconds in the future are also rejected (prevents pre-dated manipulation)
• The staleness window is intentionally set to 7 seconds to accommodate legitimate on-chain latency while maintaining a tight replay-attack surface

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Switchboard On-Chain Verification

Switchboard prices undergo full on-chain validation:

• Queue matching (feed must be registered to the expected queue)
• Quote account freshness check
• Data format validation

This requires Switchboard quote accounts to be passed as remaining accounts in relevant instructions.

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Liquidation Safety Mechanisms

Asymmetric Liquidation Defense

For pools that temporarily fall back to a single oracle provider, asymmetric liquidation is available. When enabled, a liquidation can only proceed if a backup oracle has also provided a recent, confirming price for that asset. This prevents liquidations being triggered by a single stale or manipulated feed.

Circuit Breaker

When enabled, the circuit breaker pauses all liquidations if no backup oracle has delivered a fresh price within the configured window (default: 300 seconds). This is a safety valve for infrastructure outages - protecting traders from being liquidated on stale prices when oracle redundancy is temporarily unavailable.

Parameter	Description
asymmetric_liquidation	Enable/disable asymmetric liquidation defense (0/1)
circuit_breaker_enabled	Enable/disable the circuit breaker (0/1)
circuit_breaker_seconds	Freshness window for the backup oracle (seconds)

Both defenses are disabled by default on both pool types; governance can enable them per pool via set_pool_oracle_config once the operator is comfortable with oracle coverage.

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Oracle Capacity

The oracle account supports up to 50 simultaneous price slots (expanded from 20 in Release 39 via migrate_oracle_v38_to_v39). This accommodates the full range of assets across crypto (ChaosLabs/Autonom/Switchboard) and RWA/synthetic (Autonom/Switchboard) markets.