What Can You Do With Fetch?

Discover the different ways you can use Fetch Oracle.

The Fetch Oracle Ecosystem

Fetch Oracle works by aligning the interests of data reporters, data consumers, and FETCH token holders.

Virtually anyone can deposit a stake and report data. At the same time, anyone can pay a dispute fee to challenge any piece of data they believe to be inaccurate.

The entire network of users then vote to determine the outcome of the dispute. If the data reporter loses the dispute, the reporter's stake goes to the disputing party.

In this system, users are financially incentivized to report accurate information and dispute inaccurate reports. This allows the ecosystem to remain decentralized, since no single user has the final say. Rather, a weighted voting process prevents incorrect data from corrupting the integrity of the network.

Types of Users

The Fetch Oracle ecosystem is made up of multiple types of users:

Reporters: Anyone with a stake in the network has the ability to manually or automatically provide up-to-date information, allowing them to earn both timed-based rewards and the tips provided by users who are seeking accurate data.

Anyone can become a reporter as a way to earn yield, both in the form of time-based rewards and tips.

Data Seekers: In this system, users are able to leverage Fetch Oracle as a way to receive information. These users have the ability to tip for information they're seeking as a way to incentivize reporters to provide timely and accurate information.

Someone may become a data seeker because they want their project or smart contract to be able to access a piece of real-world information without having to undergo the hassle of building their own solution.

Through Fetch Oracle's user incentive structure, these two types of users work together to create a system where everyone wins and mutually-beneficial outcomes are reached.

The Fetch Oracle Ecosystem

Using Fetch Oracle

There are four core actions a user can take in the Fetch Oracle ecosystem:

1. Staking: Anyone can earn yield by staking FETCH tokens.

2. Reporting: The key way to use Fetch Oracle is to provide information. As a reporter, you'll receive time-based rewards and tips for providing live and accurate data.

3. Disputing: Everyone has the option to dispute information they believe is inaccurate. This triggers a voting process, in which the network has to reach a consensus on whether or not a piece of submitted information is correct.

4. Voting: Both stakers and reporters are tasked with taking part in votes in order to earn their full rewards. This process helps ensure the integrity of Fetch Oracle, as incorrectly-submitted information will be shot down by system participants.