Tellor is a decentralized Oracle for bringing high-value off-chain data onto the ETH chain. The platform operates using a network of staked miners that compete to solve a PoW challenge to submit official values of the requested data. The goal of Tellor is to provide a secure price feed for DeFi applications.
Tributes, TRB, are the native token of Tellor, and is minted with every successful Tellor data point. These tokens are used to pay for data requests and miners on the platform compete to satisfy the submissions. The Oracle prioritizes the best-funded query every ten minutes, collects the required specific data, and makes it available on-chain.
In addition to the security of the PoW protocol, Tellor will also require miners to stake a deposit of Tributes before they are allowed to mine. Miners risk losing their stake if their submitted values are successfully challenged. This design ensures the integrity of operating miners on the platform.
Tellor’s token, TRB, is currently valued at $32.73, with a market cap of $49,092,725 USD. There are currently 1,499,574.397 TRB in the total supply.