Prop 25: [MIB-1] Add INIT Price Feed To Connect
1. Background
The INIT token and Initia’s mainnet are now live. Epic.
A few days after mainnet launch, liquidity for the token has now been built onchain and multiple CEXs. This proposal seeks to add INIT/USD price feeds to the Connect marketmap using 5 CEX pairs via websocket price feeds:
- Binance: INITUSDT
- Bybit: INITUSDT
- Gate: INITUSDT
- KuCoin: INIT-USDT
- MexC: INITUSDT
2. Parameter Changes
| Module | Parameter | Current Value | Proposed Value |
|---|---|---|---|
[module] |
[parameter_name] |
[current] |
[proposed] |
[module] |
[parameter_name] |
[current] |
[proposed] |
All proposed changes are in accordance with Initia’s governance process and will be automatically applied by the chain once the proposal passes and the voting period concludes.
3. Rationale
Connect is Initia’s oracle system built by Skip, it enables validators to fetch fresh prices from various venues (primarily centralized exchanges) and post them to the chain each block.
These oracle prices are also relayed to each Interwoven Rollup via their OP Bots. This addition will allow rollups to build INIT price feeds into their applications.
These 5 CEX sources have been chosen due to their liquidity depth, volume, and trustworthiness.
4. Testing (If any)
This update has been tested on initiation-2, prices are being fed as intended.
Governance Votes
-
YES – You support adding an INIT feed from these sources to Connect
-
NO – You oppose this
-
NO WITH VETO – This is a strong rejection, used when the proposal is:
- Spam or unrelated to Initia,
- Harmful to minority participants, or
- Violates Initia’s governance framework or promotes violations.
If more than one-third of the total votes are "No with Veto," the proposal will be rejected and any deposits will be burned.