Price Oracles

The Oracle Price for each trading pair is used for the following:

• Ensuring that each account is well-collateralized after each trade
• Determining when an account should be liquidated

Calculation

Oracle prices will not take effect until it is confirmed by more than 4 of the 6 nodes.

At present, it is a 4/6 multi-signature.

If there is any adjustment, the document will be updated.

Node Providers

Node name	First choice	Second choice	Third choice
Pando	coinbase	4swap
Pando Girl	binance	ftx	exinswap
Mixin	bitstamp	bitfinex	4swap
BigONE	bittrex	ftx	exinswap
Poolin	okex	4swap
Exin	huobi	ftx

Specially,

• FTX, 4swap, Exinswap is an alternative exchange for taking prices, and prices will be taken from the above three exchanges only if the other six exchanges do not read oracle prices.
• The price taken on 4swap will not take effect until the price impact of transaction 1000 Pusd is less than 2%.
• The price taken on Exinswap will not take effect until the price impact of the transaction 100 Pusd is less than 2%.

Index Prices

The Index Price for each trading pair is used for the following:

• Calculating the funding rate
• Trigger "liquidation" and enter the auction

Calculation

Index prices are equal to the median of several exchanges' spot prices.

Each exchange's spot price is calculated as the median of the best-ask, best-bid, and last-traded prices of its spot pair.

We will adjust the price index to Pusd through 4swap.

Price Delay Mechanism

In order to avoid the rapid decline in currency prices in a short period of time, which will lead to insufficient settlement of collateral, the currency prices confirmed by multi-signature nodes will not be immediately applied to Panduoye, there is a 30-minute delay.

Exchange Sources

BTC-PUSD

• Binance: BTC-BUSD
• Bitstamp: BTC-USD
• Bittrex: BTC-USD
• Bitfinex: BTC-USD
• CoinbasePro: BTC-USD
• FTX: BTC-USD
• OKEx: BTC-USDC
• Huobi: BTC-USDC
• Exinswap: BTC-PUSD
• 4swap: BTC-PUSD

ETH-PUSD

• Binance: ETH-BUSD
• Bitstamp: ETH-USD
• Bitfinex: ETH-USD
• Bittrex: ETH-USD
• Coinbase: ETH-USD
• FTX: ETH-USD
• OKEx: ETH-USDC
• Huobi: ETH-USDC
• Exinswap: ETH-PUSD
• 4swap: ETH-PUSD

EOS-PUSD

• Binance: EOS-BUSD
• Bitfinex: EOS-USD
• Bittrex: EOS-USD
• CoinbasePro: EOS-USD
• Huobi: EOS-USDC
• FTX: EOS-USD
• OKEx: EOS-USDC
• Exinswap: EOS-PUSD
• 4swap: EOS-PUSD

XIN-PUSD

• Exinswap: XIN-PUSD
• 4swap: XIN-PUSD

DOGE-PUSD

• Binance: DOGE-BUSD
• Bitfinex: DOGE-USD
• Bittrex: DOGE-USD
• CoinbasePro: DOGE-USD
• Huobi: DOGE-USDC
• FTX: DOGE-USD
• OKEx: DOGE-USDC
• Exinswap: DOGE-PUSD
• 4swap: DOGE-PUSD

BCH-PUSD

• Binance: BCH-BUSD
• Bitstamp: BCH-USD
• Bittrex: BCH-USD
• Coinbase: BCH-USD
• FTX: BCH-USD
• OKEx: BCH-USDC
• Huobi: BCH-USDC
• 4swap: BCH-PUSD

LTC-PUSD

• Binance: LTC-BUSD
• Bitstamp: LTC-USD
• Bitfinex: LTC-USD
• Bittrex: LTC-USD
• Coinbase: LTC-USD
• FTX: LTC-USD
• OKEx: LTC-USDC
• Huobi: LTC-USDC
• Exinswap: LTC-PUSD
• 4swap: LTC-PUSD

FIL-PUSD

• Binance: FIL-BUSD
• Bitfinex: FIL-USD
• Bittrex: FIL-USD
• CoinbasePro: FIL-USD
• Huobi: FIL-USDC
• FTX: FIL-USD
• OKEx: FIL-USDC
• Exinswap: FIL-PUSD
• 4swap: FIL-PUSD

ZEC-PUSD

• Binance: ZEC-BUSD
• Bitfinex: ZEC-USD
• Bittrex: ZEC-USD
• CoinbasePro: ZEC-USD
• Huobi: ZEC-USDC
• FTX: ZEC-USD
• OKEx: ZEC-USDC
• 4swap: ZEC-PUSD

DOT-PUSD

• Binance: DOT-BUSD
• Bitfinex: DOT-USD
• Bittrex: DOT-USD
• CoinbasePro: DOT-USD
• Huobi: DOT-USDC
• FTX: DOT-USD
• OKEx: DOT-USDC
• Exinswap: DOT-PUSD
• 4swap: DOT-PUSD

UNI-PUSD

• Binance: UNI-BUSD
• Bitstamp: UNI-USD
• Bitfinex: UNI-USD
• Bittrex: UNI-USD
• Coinbase: UNI-USD
• FTX: UNI-USD
• OKEx: UNI-USDC
• Huobi: UNI-USDC
• Exinswap: UNI-PUSD
• 4swap: UNI-PUSD

MOB-PUSD

• Bitfinex: MOB-USD
• FTX: MOB-USD
• Exinswap: MOB-PUSD
• 4swap: MOB-PUSD