eOracle (EO)

Oracles are a key component of the DeFi world, that provides dApps with off-chain data collected from the internet, such as crypto prices, or their price performances. This way, DeFi apps set close to the market’s price for the various assets, and prevent large price differences among CEXs and DEXs. 

However, as oracles are mostly add-on tools to blockchains, the quality of data may be questioned, especially during huge market movements, for example when the $TRUMP meme coin was launched. At the time of the first $TRUMP correction, exchanges like OKX were listing $TRUMP at nearly $35, while on DEXs, you could buy the token for around $30 per coin.

What is eOracle? 🤔

eOracle aims to resolve this issue by leveraging the established trust network of Ethereum validators and staked ETH, or simply restaking. It acts as a crypto data marketplace powered by the EigenLayer restaking mechanism, paying validators for providing accurate data and slashing attackers' staked funds and rewards for acting maliciously within the protocol. 

At the core of the eOracle stands Oracle Validated Services (OVS) - a network of separate Oracles built on top of eOracle. Such an approach toward Oracle infrastructure introduces decentralization and security, ensuring more accurate and consistent data on the crypto market.

🪙 eOracle token ($EO): According to the documentation of the project, the eOracle crypto protocol will be powered by the native $EO token, which will be used for staking and rewarding active community members with token airdrops. 

On February 10, 2025, the platform is set to launch a $5M public $EO (eOracle coin) sale on Legion launchpad, yet the number of funds to be raised remains unknown. Nevertheless, the CoinLaunch team prepared for you a set of comprehensive pros and cons of the project to help you make better investment decisions:

✅ eOracle pros: 

• Innovative concept and design of the product with a real utility to the blockchains in the future;
• Publicly available token distribution and unlock graphs;
• Sale on Legion;
• Presence of security audit;
• Very high Growth Marketing performance;
• Above the average SMM, and SEO scores;
• Diverse network of top-tier restaking protocols collaborating with the project;
• Core team members have work experience in Trust Wallet and the European Commission.

❌ eOracle cons:

• Lack of transparency in tokenomics: no info on FDV, and token price, as well as some token release conditions are subject to community;
• No roadmap;
• The Ethereum restaking is a past narrative in the crypto market, which wasn’t as successful as it was expected;
• While the platform has a security audit, it was made not from the top tier company according to our methodology;
• Very low PR, Marketing Infrastructure, and Influencer marketing scores;
• No top-tier funds have invested in the project;
• Our team wasn’t able to determine the identity of the CEO of the project as well as its work experience previously;
• No ama sessions found for the last 6 months.