Seeking Community Feedback: Necessity for the Development of an ICP USD Exchange Rate Oracle

Developers
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Hello! Greetings from the ICPSwap Development Team!

In our efforts to provide the community with ICP price data, we’ve noticed that there seems to be a lack of a publicly available, reliable means to access real-time ICP to USD exchange rates within the current IC ecosystem, especially when it comes to SDR to USD rates. It’s also possible that we may have missed some teams already working on related solutions.

In light of this, we are considering the development of an oracle feature. Through this oracle, we plan to fetch real-time data such as SDR to USD exchange rates, USD to EUR exchange rates, USD to GBP exchange rates, etc., And enable developers within the IC ecosystem to easily access and get this data through canisters.

We would like to gather some feedback from the community:

Is there a practical need within the community for such a tool?
Do you believe that such an oracle would have a positive impact on the entire ecosystem? For instance, allowing ecosystem users to easily view the value of their tokens in their respective national currencies?

We look forward to hearing your thoughts and suggestions, as they will play a crucial role in guiding our next steps, thank you in advance for your support and contributions!

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Sure, that’s helpful.
In addition to getting current exchange rate prices, I think it would be useful to get historical exchange rate prices for a particular day, or you could get historical totals of ICP prices for each day.

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Of course, something like this is much welcome to the community. The more tools that give investors and users more information the better. I strongly encourage that you build this thing. And the whole community. Appreciate you for that.

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@e274426380 @Sormarler Thank you for your support and encouragement!!

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There is one that works great.

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Thank you so much for your sharing. May I ask if this can retrieve data such as SDR to USD exchange rates? We have looked into it, but it seems there are no specific example instructions.

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I think it can. It is XDR in there. You should try setting both to fiat and one will be XDR, the other USD. Don’t forget to send cycles with your call.

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Thank you for your assistance; we have successfully completed the update.

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