In its first phase of operations, the types of feeds offered by Orcfax are
limited to price feed data from centralized exchanges, starting with our
In this first phase, this source data is collected and validated in a federated network of nodes that is operated by the Orcfax project.
In subsequent phases the Orcfax oracle service will publish multiple data feed types and use a fully decentralized network of independent node operators who have staked the Orcfax utility token ($FACT) in order to collect and validate all published data.
This phase is expected to begin in mid-2024, after Orcfax completes the operation of its incentivized Testnet. This Testnet exercise will provide the data and experience needed to configure the technical and incentive structure of the decentralized validator pool prior to transitioning from the federated phase .
The following diagram illustrates how the three Orcfax network deployment phases overlap.
The final fourth phase marks the shift of Orcfax network governance from the Orcfax Ltd. company to the Orcfax Decentralized Autonomous Organization (DAO).