Deprecating the stETH/ETH Merkle Price Oracle and stETH/ETH price feed

Apart from Chainlink and the other third-party price feeds, Lido on Ethereum has deployed the stETH/ETH Merkle Price Oracle and stETH/ETH price feed contracts (docs). The data updates have been incorporated into Lido on Ethereum Oracle daemon. The contracts have been marked as obsolete in docs since 22 Nov 2022.

Under the preparation for the Lido V2 upgrade, the Oracle software is getting a significant rewrite. The part of the Oracle daemon responsible for the price feed updates won’t be included in the next version, which is about to go live before the V2 upgrade (expected by late March 2023), finalizing the deprecation of the Merkle Price Oracle-based price feed.

If you’re using the price feed in your product, make sure to set up & run your own instance of “price updater daemon”. The setup is permissionless — anyone can run the daemon & make sure the price feed data is up-to-date. The code could be found in the repo: GitHub - lidofinance/steth-price-balancer

If you’re using the price feed, make sure to set up the bot in March. In case you both have the product requiring this price feed, you’re committed to running the daemon & need some grant support — reach out to LEGO member @kadmil in tg.

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Note that both the contracts & the daemon are permissionless — anyone can run the daemon to make sure the price feed is alive & is updated. The deprecation here means that Lido protocol team would stop running the daemon for updating the price feed ourselves.

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