With the recent Solana update on Fee Markets, all types of users on the Solana blockchain can utilise priority fees to bid for priority for their transactions in the leader’s queue. In the recent FTX situation, we’ve experienced an increased amount of users opting for prioritised transactions — meaning they utilised priority fees in times of need. This lead to non-prioritised transactions to not succeed timely.
Oracles remain a critical infrastructure for all types of products to execute timely at any given scenario. Hence, in the event of an increased amount of users opting for prioritised transactions, crucial data feeds on Switchboard must participate as well — introducing Data Feed Priority Fees. Furthermore, after researching, we’ve implemented a Sliding Window feature to improve oracle success rates.
Data Feed Priority Fees
In order to maintain Switchboard’s permissionless and customisable aspect, we’ve implemented priority fees to data feeds to be a user-configurable method.
In the User Profile page, users can now specify priority fees settings to improve feed quality when feed is stale — meaning to increase priority fees in order to land transactions for feed updates.
Refer to image for a concise description of each setting.
In this case, Staleness* refers to:
In the standard Switchboard v2 architecture, it forces the reporting oracle to only accept answers from a new single round. With Sliding Window, instead of aforementioned, oracles will be able to accept last N answers regardless of round ID.
This means that oracles are able to complete their tasks despite when a new round opens.
The Sliding Window feature can also be found in the User Page configurations.
Ultimately, Switchboard users can now improve feed quality by opting for Data Feed Priority Fees and enabling Sliding Window.
Inevitably, updates will happen to blockchains, we aim to maintain the Switchboard protocol as we keep up to date with any relevant updates, providing our users with the best experience — accurate and timely data in a permissionless and customisable way.
If you have any queries, feel free to reach out!