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Ratio’s pricing is anchored to real-world FX rates from institutional-grade oracle feeds. The oracle infrastructure is designed for reliability, accuracy, and redundancy — ensuring every quote reflects current market conditions.

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Oracle architecture

Oracle Infrastructure Prices are sourced and validated off-chain by Ratio’s pricing service, signed into each firm quote, and checked again on-chain when the quote is executed:
1

External price sources

Real-time FX rates from Pyth Network (primary) and RedStone (fallback). OANDA provides an independent reference used only to cross-check the other sources.
2

Ratio pricing service

Collects a USD price for every supported asset, rejects stale data, and checks the quoted price against the independent sources. If the sources disagree beyond the allowed deviation, or no reliable price is available, no quote is issued.
3

Signed firm quote

The prices used for a quote are embedded in the EIP-712 signed firm quote (from_asset_price, to_asset_price), so the exact inputs are fixed at quote time.
4

On-chain price check

When the quote is executed, the FxEngine contract compares the quoted prices with Orakl Network price feeds on Kaia and rejects the transaction if they are stale or deviate beyond the corridor’s configured limit.
Every executed swap is priced twice over: validated against multiple independent sources before the quote is signed, and verified against on-chain oracle feeds at settlement.

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Pyth Network (primary source)

Pyth Network is Ratio’s primary price source. Key characteristics: Ratio uses Pyth feeds for all Phase 1 corridors: USD/IDR and USD/JPY. For JPY/IDR, the rate is derived from USD/IDR and USD/JPY — using USD purely as a pricing reference.

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RedStone and OANDA (redundancy and cross-check)

  • RedStone is the fallback price source, used automatically when a fresh Pyth price is not available.
  • OANDA is an independent FX reference. It is never used to price a quote; it is used to detect when the quoting source has drifted from the wider market.

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Price validation

Every price is validated before use:
Validation runs on every quote request — there is no cached or assumed pricing. If reliable data is unavailable, the system stops quoting rather than quoting at an unreliable price.

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Cross-currency rate construction

For pairs without a direct oracle feed (e.g., JPY/IDR), the system constructs a reference rate:
This is standard cross-rate construction used universally in institutional FX. USD is used only as a mathematical reference — no actual USD conversion occurs. The swap executes directly between IDRX (or IDRP) and JPYC.

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Reliability design

Multiple sources

Independent price providers prevent single-point-of-failure dependency.

On-chain verification

Every executed quote is checked against Orakl Network feeds on Kaia.

Automatic failover

Falls back from Pyth to RedStone based on price freshness.

Circuit breakers

Stops quoting rather than executing at unreliable prices.