Miners provide price quotes and pay commissions to receive NEST tokens¡£
Taking ETH/USDT as an example, if miner X intends to quote a price of 1 ETH = 200 USDT, miner X needs to put 10 ETH and 2000 USDT into the quote contract and pay 1% commission which is 0.1 ETH. Miner X gets NEST tokens as reward. Anyone can become a miner.
After miner X submits the assets and price to the quote contract, there is a 25 block / 5 minute verification period. Anyone believes that the price has an arbitrage opportunity can trade either ETH or USDT . This mechanism ensures that miner X’s price is fair price in the market. Otherwise it will be taken up by an arbitrager. Miner X can take the assets back after the verification period. If the price submitted by miner X survives after the verification period, it goes into the price feed.
via DeFi https://www.reddit.com/r/defi/comments/i8m6tr/whats_the_nest_oracle_quote_rules_and/
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