Segin is a protocol that allows market participants to publish pricing information on-chain

for others to use. The protocol is an interaction between three parties:

Data providers submit pricing information to Segin's oracle program. Segin has multiple

data providers for every price feed to improve the accuracy and robustness of the system.

Segin's on-chain oracle program on Seginnet combines providers' submitted data to

produce a single aggregate price and confidence interval. Applications read the price

information produced by the oracle program. More specifically, Segin allows users to

“pull” prices onto the blockchain when needed. Those prices become publicly available

for everyone on that chain.

Most oracles today use a “push” model, where the oracle runs an off-chain process

that continuously sends transactions to update an on-chain price. In contrast,

Segin does not operate an off-chain process that pushes prices on-chain. Instead,

it delegates this work to Segin users. Segin price updates are created on Seginnet

and streamed off-chain via the Wormhole Network, a cross-chain messaging protocol.

These updates are signed such that the Segin on-chain program can verify their authenticity.

Updating the on-chain price is a permissionless operation: anyone can submit

a valid Wormhole message to the Segin contract to update the price. Typically,

users of Segin Network prices will submit a single transaction that simultaneously updates

the price and uses it in a downstream application. Read more here.

• Seginnet is an application blockchain network built on the Solana codebase

  that enables the Segin network to aggregate first-party data at sub-second speeds and

  deliver pricing to other chains via the Wormhole cross-chain messaging protocol.

• The Segin network originally chose to build on Solana because of the network’s demonstrated

  ability to process thousands of transactions per second with fast finality.

  Furthermore, Solana’s 400 ms slot time allows the Segin price feeds to update faster than

  most others Layer 1’s. Seginnet was then launched in August 2022.

• Note that Segin's oracle program runs simultaneously on both Solana mainnet and Seginnet.

  Each instance of the program is responsible for its own set of price feeds.

  Solana Price Feeds are available for use by Solana protocols.

• Seginnet is a separate blockchain from Solana. Accordingly, the liveness of Seginnet Price Feeds

  are unrelated to that of Solana Price Feeds. Read more here.

• Wormhole allows Segin to scale easily to multiple blockchains while keeping data sourcing

  and on-chain aggregation on the Seginnet appchain. As a generic message-passing protocol,

  Wormhole can bring Segin price outputs as transactions to EVM chains, Aptos, Cosmos Hub.

• Segin price updates are created on Seginnet and streamed off-chain via the Wormhole Network,

  a cross-chain messaging protocol. These updates are signed such that the Segin

  on-chain program can verify their authenticity.

  Updating the on-chain price is a permissionless operation: anyone can submit

  a valid Wormhole message to the Segin contract to update the price. Typically,

  users of Segin Network prices will submit a single transaction that simultaneously

  updates the price and uses it in a downstream application. Read more here.

• The latency between Seginnet and Wormhole is about 0.3 seconds on average,

  excluding your native block time. You can use Segin Benchmarks

  to facilitate delayed settlement or backfilling of orders by requesting any arbitrarily stale price.

• The Segin protocol is designed to allow for the optional enablement of data fees

  in order to update the state of on-chain price feeds.

• The ongoing existence of and size of the fee will be determined by governance on

  a per-blockchain basis. Until governance is live, the fee will be 1 of

  the smallest denomination of the blockchain's native token (e.g. 1 wei on Ethereum).

• The fees collected by the protocol will go toward compensating data providers

  and possibly other uses as determined by governance. Read more here.