🤑Prices

Different prices in JOJO's trading systemes

Index Price

Index price is obtained in real-time from the a bunch of centralized exchange spot price and does not have record on blockchain. This is used for backend calculations of funding rates. By default, the index price is taken from Binance's index price. This does not refer to Binance's spot price, as Binance has already completed a round of aggregation and security checks, making it more reliable to use.

Mark Price

Mark price is an offchain price calculated from bid price and ask price of the orderbook, it’s used for PNL(profit and loss) and position margin calculations.

Mark price = Index price + MA30, in which MA30 = MA30( (Bid1+Ask1) / 2 - Index price), Mark Price updates occur with each change in the bid or ask price.

Oracle price

Oracle price is used to trigger liquidation onchain.

Basically, JOJO uses Chainlink as the primary decentralized oracle provider and Self-Built Oracel as a complement. Due to occasional delays in Chainlink's oracle prices, JOJO's self-built oracle has the authority to slightly increase or decrease prices based on Chainlink's pricing.