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Goracle Network

The Goracle network is a decentralized oracle provider secured by the $GORA token and aims to provide the Algorand ecosystem with off-chain data. By harnessing its technology and clever design, Goracle provides decentralized applications with reliable, secure, and high-throughput data that can be used to unlock a plethora of use cases on the blockchain.

Categories:

Oracle

Updated:

2023-07-10

Tags:

Proof of Stake

Ticker:

$GORA

Token Strength.

Token Utility:

$GORA's utility:
-Pay for real-world (off-chain) data and computation on the Goracle network.
-Governance over the network.
-Staking to run a node runner/operator and receive rewards (from the protocol and consumers).
-Delegation to a node runner/operator to receive rewards (from the protocol and consumers).
-Provide on-chain liquidity.

Demand Driver:

Demand Drivers:
-An increase in the number of consumers seeking reliable, secure, and high-throughput off-chain data from a decentralized oracle provider like Goracle would drive demand for $GORA, as the token is required to pay for this service.
-An increase in the number of consumers requiring computational power from the network would drive demand for $GORA, as the token is required to pay for this service.
-An increase in fees generated (by providing data or computation) by the network would make running a node more desirable and would thus drive demand for $GORA, as the token is required to setup a node.
-An increase in fees generated (by providing data or computation) by the network would make delegating $GORA tokens to a node runner/operator more desirable and would thus drive demand for $GORA, as the token is required to delegate stakes in the network.
-An increase in network security (by an increased number of node operators/runners and/or delegators) would result in more demand for data and computation as it is more reliable and secure, and thus for the $GORA token.
-An increase in demand to govern the network can also drive demand for the $GORA token, as staking, delegating, or holding it is required to participate in governance.
-An influx of users, developers, and, by extension, dApps to the Algorand network could bolster the aforementioned demand drivers.
-An increase in use cases requiring real-world data could bolster the aforementioned demand drivers.

Value Creation:

The value created by Goracle lies in its ability to provide developers and decentralized applications with real-world data that is fast (high throughput), reliable (accurate), and secure (tamper-proof). This real-world data can range from weather to event outcomes to price feeds, allowing a myriad of use cases to be fulfilled, such as borrowing and lending, insurance, and sports betting on the blockchain, among other things.

Value Capture:

Value accrual to token:
-The network generates fees in $GORA from consumers that require real-world (off-chain) data and computation and passes them onto node runners/operators and their delegators.
-Node runners/operators also receive $GORA rewards from the protocol for behaving in line with the protocol rules and following consensus.

Value accrual to protocol:
-None; all fees generated get passed onto node runners/operators and their delegators.

Business Model:

The protocol generates revenue by allowing consumers to purchase real-world (off-chain) data and computations for a fee paid in $GORA. These $GORA token(s) are then distributed as revenue to node runners/operators (and, by extension, $GORA tokens delegated to that node runner/operator) who provided the data or computation (the node runner/operator has a higher chance of being selected to provide the data or computation based on the self-staked $GORA token amount and the $GORA token amount delegated to them, just like in any PoS blockchain, i.e., the higher the self-staked and delegated $GORA tokens, the higher the chance of being picked to provide data and/or computation).

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Protocol Analysis.

Problems & Solutions
Problem:
-Blockchains are isolated from the rest of the world. Decentralized applications that employ real-world data need an oracle that can provide data quickly, without sacrificing the reliability or security of that data.

Solution:
-By matching the security of its underlying blockchain and harnessing its technology, the Goracle network provides decentralized applications and builders with real-world data that allows them to build endless applications and onboard the next generation of blockchain users and use cases.
Predecessors
Similar projects include Chainlink, Uma, Band, Tellor, and other oracle providers; however, most of these projects provide oracles on EVM-compatible and equivalent chains. Goracle is providing oracles on the Alogrand blockchain, which is neither EVM-compatible nor equivalent.

Investment Take

... coming soon

Tokenomics Timeline.

  1. 2023-06-28

    IDO

    $GORA Initial Dex Offering (IDO)

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Ecosystem Users.

NameRole
Community Members & Team
Streamline the process for node runners/operators and feed providers to do their jobs, lower the barriers to entry, and attract more consumers. 
Consumers
The whole network is based on consumers. These consumers use the data provided by node runners/operators and pay a fee for doing so.
Feed Providers
Feed providers' role is to monetize the data provided by the node runners/operators. Feed providers are also incentivized to reduce the cost of onboarding data consumers/users.
Investors
Investors hold the $GORA token in hopes of price appreciation. They may also make markets for the $GORA token by providing liquidity, etc.
Node Runners/Operators
Node runners/operators run the essential infrastructure that provides real-world data on-chain using oracles. These node runners also secure the network by staking the native $GORA token.

Resources.

Author.

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