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DeFi

Pull Oracle Model

An oracle design where price updates are fetched on-demand by the consuming protocol rather than pushed to on-chain accounts at fixed intervals. Pyth pioneered the pull model on Solana: prices are published to an off-chain service (Hermes) and only written on-chain when a transaction needs them. This reduces costs since unused price updates are never posted, but requires transactions to include price update instructions.

IDpull-oracle-model
Leitura rápida

Leitura rápida

Comece pela explicação mais curta e útil antes de aprofundar.

An oracle design where price updates are fetched on-demand by the consuming protocol rather than pushed to on-chain accounts at fixed intervals. Pyth pioneered the pull model on Solana: prices are published to an off-chain service (Hermes) and only written on-chain when a transaction needs them. This reduces costs since unused price updates are never posted, but requires transactions to include price update instructions.

Modelo mental

Modelo mental

Use primeiro a analogia curta para raciocinar melhor sobre o termo quando ele aparecer em código, docs ou prompts.

Pense nisso como uma mecânica de mercado usada para precificar, rotear ou mover capital em apps de liquidez.

Contexto técnico

Contexto técnico

Coloque o termo dentro da camada de Solana em que ele vive para raciocinar melhor sobre ele.

AMMs, roteamento, liquidez, empréstimos e infraestrutura de trading.

Por que builders ligam para isso

Por que builders ligam para isso

Transforme o termo de vocabulário em algo operacional para produto e engenharia.

Este termo destrava conceitos adjacentes rapidamente, então funciona melhor quando você o trata como um ponto de conexão, não como definição isolada.

Handoff para IA

Handoff para IA

Use este bloco compacto quando quiser dar contexto aterrado para um agente ou assistente sem despejar a página inteira.

Pull Oracle Model (pull-oracle-model)
Categoria: DeFi
Definição: An oracle design where price updates are fetched on-demand by the consuming protocol rather than pushed to on-chain accounts at fixed intervals. Pyth pioneered the pull model on Solana: prices are published to an off-chain service (Hermes) and only written on-chain when a transaction needs them. This reduces costs since unused price updates are never posted, but requires transactions to include price update instructions.
Relacionados: Oráculo, Pyth Network, Pyth Hermes
Glossary Copilot

Faça perguntas de Solana com contexto aterrado sem sair do glossário.

Use contexto do glossário, relações entre termos, modelos mentais e builder paths para receber respostas estruturadas em vez de output genérico.

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Explicar este código

Opcional: cole código Anchor, Solana ou Rust para o Copilot mapear primitivas de volta para termos do glossário.

Faça uma pergunta aterrada no glossário

Faça uma pergunta aterrada no glossário

O Copilot vai responder usando o termo atual, conceitos relacionados, modelos mentais e o grafo ao redor do glossário.

Grafo conceitual

Veja o termo como parte de uma rede, não como uma definição sem saída.

Esses ramos mostram quais conceitos esse termo toca diretamente e o que existe uma camada além deles.

Ramo

Oráculo

A service that provides external data (prices, randomness) to on-chain programs. DeFi protocols rely on oracles for accurate price feeds to calculate collateral ratios, liquidation thresholds, and swap rates. Solana's primary oracles are Pyth (high-frequency price feeds) and Switchboard (general-purpose data feeds and VRF).

SwitchboardFeed de Preços
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Ramo

Pyth Network

A high-frequency oracle network publishing price feeds for crypto, equities, commodities, and FX. Pyth aggregates data from 90+ first-party publishers (market makers, exchanges) and updates prices every 400ms on Solana. Each price feed includes a price, confidence interval, and exponential moving average. Pyth uses a pull model with Hermes for cross-chain delivery.

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Ramo

Pyth Hermes

Pyth Network's off-chain price delivery web service that provides real-time price updates for the pull oracle model. Hermes aggregates publisher price submissions and serves them via REST and WebSocket APIs. When a Solana transaction needs a price, it fetches the latest update from Hermes and includes it as an instruction in the transaction, where the Pyth on-chain program verifies its authenticity.

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Próximos conceitos para explorar

Continue a cadeia de aprendizado em vez de parar em uma única definição.

Estes são os próximos conceitos que valem abrir se você quiser que este termo faça mais sentido dentro de um workflow real de Solana.

DeFi

Oráculo

A service that provides external data (prices, randomness) to on-chain programs. DeFi protocols rely on oracles for accurate price feeds to calculate collateral ratios, liquidation thresholds, and swap rates. Solana's primary oracles are Pyth (high-frequency price feeds) and Switchboard (general-purpose data feeds and VRF).

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DeFi

Pyth Network

A high-frequency oracle network publishing price feeds for crypto, equities, commodities, and FX. Pyth aggregates data from 90+ first-party publishers (market makers, exchanges) and updates prices every 400ms on Solana. Each price feed includes a price, confidence interval, and exponential moving average. Pyth uses a pull model with Hermes for cross-chain delivery.

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DeFi

Pyth Hermes

Pyth Network's off-chain price delivery web service that provides real-time price updates for the pull oracle model. Hermes aggregates publisher price submissions and serves them via REST and WebSocket APIs. When a Solana transaction needs a price, it fetches the latest update from Hermes and includes it as an instruction in the transaction, where the Pyth on-chain program verifies its authenticity.

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DeFi

Pump.fun

A memecoin launchpad on Solana that uses a bonding curve mechanism for token creation and initial price discovery, allowing anyone to launch a token with no code in seconds. Tokens that 'graduate' (reach a market cap threshold) migrate to a DEX for open trading. Pump.fun generated over $300M in fees within its first year and launched PumpSwap, its own DEX, in March 2025.

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Comumente confundido com

Termos próximos em vocabulário, sigla ou vizinhança conceitual.

Essas entradas são fáceis de misturar quando você lê rápido, faz prompting em um LLM ou está entrando em uma nova camada de Solana.

DeFiinterest-rate-model

Interest Rate Model

The algorithm a lending protocol uses to determine borrow and supply interest rates based on pool utilization. Most Solana lending protocols use a kinked (piecewise linear) model with a gentle slope below optimal utilization and a steep slope above it, creating urgency to repay when liquidity becomes scarce. Parameters include base rate, optimal utilization point, and slope values for each segment.

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DeFioracle-staleness

Oracle Staleness

The condition where an oracle price feed has not been updated within an acceptable time window, making the price data potentially unreliable. Stale prices can lead to incorrect liquidations, mispriced trades, or exploitable arbitrage. Solana DeFi protocols must check the timestamp of oracle updates and reject or pause operations when prices exceed a staleness threshold (e.g., 30 seconds for Pyth feeds).

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DeFioracle

Oráculo

A service that provides external data (prices, randomness) to on-chain programs. DeFi protocols rely on oracles for accurate price feeds to calculate collateral ratios, liquidation thresholds, and swap rates. Solana's primary oracles are Pyth (high-frequency price feeds) and Switchboard (general-purpose data feeds and VRF).

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Termos relacionados

Siga os conceitos que realmente dão contexto a este termo.

Entradas de glossário só ficam úteis quando estão conectadas. Esses links são o caminho mais curto para ideias adjacentes.

DeFioracle

Oráculo

A service that provides external data (prices, randomness) to on-chain programs. DeFi protocols rely on oracles for accurate price feeds to calculate collateral ratios, liquidation thresholds, and swap rates. Solana's primary oracles are Pyth (high-frequency price feeds) and Switchboard (general-purpose data feeds and VRF).

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DeFipyth

Pyth Network

A high-frequency oracle network publishing price feeds for crypto, equities, commodities, and FX. Pyth aggregates data from 90+ first-party publishers (market makers, exchanges) and updates prices every 400ms on Solana. Each price feed includes a price, confidence interval, and exponential moving average. Pyth uses a pull model with Hermes for cross-chain delivery.

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DeFipyth-hermes

Pyth Hermes

Pyth Network's off-chain price delivery web service that provides real-time price updates for the pull oracle model. Hermes aggregates publisher price submissions and serves them via REST and WebSocket APIs. When a Solana transaction needs a price, it fetches the latest update from Hermes and includes it as an instruction in the transaction, where the Pyth on-chain program verifies its authenticity.

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Mais na categoria

Permaneça na mesma camada e continue construindo contexto.

Essas entradas vivem ao lado do termo atual e ajudam a página a parecer parte de um grafo maior, não um beco sem saída.

DeFi

AMM (Formador de Mercado Automatizado)

A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.

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DeFi

CLMM (Concentrated Liquidity Market Maker)

An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana.

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DeFi

Pool de Liquidez

A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.

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DeFi

LP Token

A token issued to liquidity providers representing their proportional share of a pool's reserves and accrued fees. LP tokens can be burned to withdraw the underlying assets. The value of LP tokens changes as the pool's token ratios shift and fees accumulate. LP tokens are often stakeable in yield farming programs for additional rewards.

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