📊Price feeds

All about price discovery in OptionBlitz

OptionBlitz uses a decentralised price oracle from Pyth. Here, the client subscribes to the Pyth oracle (price service) to get signed price data and then transmits the payload with their transaction instructions when executing trades. The OptionBlitz smart contracts verify the signature provided and then accepts the trade. When a trade is closed, the Pyth price is checked and then used for settlement calculations.

This model does not involve any third party keeper or middle man. Other platforms have keepers which can omit your transactions or fail to detect them altogether which can cause you to miss critical entry times in the market.

With OptionBlitz the client is responsible for executing all his trades.

Since Pyth is a third party dependency, we rely on Pyth to have price data available when requested, not only for the open price but also the close. In the event that a price is not available, the client will be able to call the refund function in the code, which will revert his transaction. This is expected to be very rare but a risk nonetheless which should be stated. According to Pyth, published price aggregations are available almost every second and OptionBlitz supports a +/-1 second margin in order to mitigate the risk of a transaction being reverted.