0

I'm currently in the process of creating a custom ERC20 Token, that tracks an underlying commodity.

There is no price oracle for this commodity, so I was looking at ways in which I am able to create a smart contract that allows for the ability for admin to change the BID/ASK price once deployed - is that even functionally possible?

I am aware that users will not be happy to see that Admin has the ability to go in and 'change' the price - but this is more of a closed loop experiment, and admin and their permission will be outlined in an agreement in this closed loop scenario.

My Q is: what's the best way to achieve this, or are there any services available that I an create my own custom Oracle?

Apologies - bit of a beginner in this world so would appreciate any input :)

PS: I must also add - in this scenario the users are not buying this Token off an exchange - it's via the Token Minter directly. Users will pay in ETH to get Y amount of Tokens in return. But this price (ETH:TOKEN Y) may change on a weekly/monthly basis.

Many Thanks S

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.