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provenance-io / explorer-service

The server side of the blockchain Explorer app. Allows for UI browsing of the blockchain.
Apache License 2.0
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Use on-chain NAV pricing for assets #536

Open nullpointer0x00 opened 1 month ago

nullpointer0x00 commented 1 month ago

Summary

Integrate NAV (Net Asset Value) data for asset pricing in the explorer-service, replacing the current system that relies on Figure Pricing, which is being deprecated.

Problem Definition

The current asset pricing in the explorer-service is based on data pulled from Figure Pricing every 15 minutes. Since Figure Pricing is being phased out, and we need more accurate on-chain pricing, we should switch to using NAV data. The NAV data reflects the price of markers as recorded on-chain through the NetAssetValue protocol, providing a more reliable and accurate representation of asset values.

Switching to NAV data will ensure that the explorer-service remains up-to-date with pricing information and aligns with the on-chain data, enhancing the accuracy and reliability of the service.

Proposal

  1. Data Source: Transition from Figure Pricing to using NAV data for asset pricing within the explorer-service.

  2. NAV Data Integration:

    • Option 1: Call the flow database to retrieve the NAV data.
    • Option 2: Update the explorer-service to parse for NAV events directly from the blockchain.
    • Option 3: Utilize the gRPC endpoint to fetch NAV data.

  3. Deprecate Figure Pricing:

    • Phase out the existing job that pulls data from Figure Pricing, ensuring a smooth transition to the new NAV-based system.

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