Tellor (TRB) is a decentralized oracle network designed for DeFi.

Its core mission is to help grow the DeFi ecosystem, with Tellor focusing on providing dependable, high-quality price information. The platform uses a setup where users can ask for a data point that originates outside the blockchain, while miners race to record that value into an on-chain data repository. Tellor’s primary smart contract generates a time series for every requested data stream and seeks to serve as a widely used reference for valuable information in decentralized applications.

Within the Tellor ecosystem, the TRB token plays a role in encouraging participants and enabling users to request specific data series from miners.

TRB is used to cover the cost of submitting a data request to the oracle. Each request comes with an assigned reward, then the oracle picks the best-funded request (on a cycle of every 10 minutes) and issues a mining task. Once the requested information is gathered, it is published across the blockchain. Miners who submit an accepted data point earn a token reward.

TRB tokens also help secure the network and support the voting process used to validate data.