> For the complete documentation index, see [llms.txt](https://delpho.gitbook.io/delpho-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://delpho.gitbook.io/delpho-docs/how-delpho-works/oracles.md).

# Oracles

Delpho relies on price feeds for collateral valuation, liquidation triggers, and rebalancing logic. Oracle accuracy is therefore a core dependency: a stale or manipulated feed can mis-price collateral, mis-trigger liquidations, or cause the hedge to drift. The mitigations on this page are designed to make oracle behavior predictable rather than to eliminate the dependency.

## Feeds in use

<table><thead><tr><th width="135">Feed</th><th width="224">Purpose</th><th>Provider</th><th>Deviation threshold</th></tr></thead><tbody><tr><td>HYPE/USD</td><td>HYPE collateral valuation, liquidation triggers</td><td>Chainlink</td><td>0.5%</td></tr><tr><td>kHYPE/HYPE</td><td>kHYPE collateral valuation, accounting for staking accrual</td><td>Chainlink</td><td>0.5%</td></tr><tr><td>USDC/USD</td><td>USDC collateral valuation</td><td>Chainlink</td><td>0.5%</td></tr><tr><td>USDT/USD</td><td>USDT collateral valuation</td><td>Chainlink</td><td>0.5%</td></tr></tbody></table>

If a price feed is older than its staleness threshold, the protocol's response is defined: certain operations (mint, redeem, liquidation) pause until a fresh price is available. The intent is predictable behavior under feed disruption rather than continued operation on stale data.

## Manipulation defense

The collateral side uses prices for liquidation, so feed manipulation is a known risk class. The protocol mitigates manipulation risk through:

* Use of high-liquidity feeds where available.
* Time-weighting on price inputs to reduce single-block manipulation, where the feed supports it.
* Cross-checks between independent price sources where multiple feeds exist.
* Pause behavior triggered by parameter drift outside expected envelopes.

No oracle architecture eliminates manipulation risk. The intent is to make manipulation expensive and detectable rather than impossible.

## Reference

* For the risk treatment, see [Oracle risk](/delpho-docs/risk/oracle-risk.md).
* For the smart-contract architecture that consumes these feeds, see [Architecture](/delpho-docs/for-developers/architecture.md).