Pythia is the Oracle that Equilibria's network is built around. Using Pythia allows any blockchain to create an Oracle Contract and begin storing and accessing data from any API. We have designed Pythia to be extremely flexible that way its use-cases can span from price data to blockchain governance.
Equilibria Oracle Nodes are responsible for performing each Oracle Service task and secure the network. To ensure Equilibria's blockchain is as secure as possible, we use a hybrid PoW/PoS algorithm that rewards Oracle Node holders for locking up XEQ for ~30 days. The collateral is used to prevent bad actors from joining the network and encourage good actors to run a node. As a reward for staking XEQ, Oracle Nodes receive 50% of the block reward + 40% of all Oracle Service fees.
Oracle Node rewards are partially performance-based; as the adoption increases for each Oracle Service, the ROI will dramatically increase for each node due to the amount fees being generated (fees are burnt and redistributed through the block emissions.) When a large number of coins have been burnt, an event gets triggered that temporarily increases the emission rate to prevent too much deflation. We aim to create a token economy that maintains a low inflation rate and a high emission rate at the same time.