Validating process on Yanda protocol

As mentioned above, the brokers must provide their validators with a validator app that satisfies the audit level determined by the governance vote for adding the new broker to the Yanda protocol.

The main purpose of the validator app is to:

Oracling Yanda Token (YND) Price

In order to retrieve relevant off-chain data, the smart contract requests the validators to provide this information once the customer signed his willingness to engage in a contract with the broker.

The validators (randomly selected - read above) retrieve the data and provide it to the smart contract.

Audit of Services

Because the Yanda protocol is designed to make the DeFi a better and more transparent space, the brokers receive an audit on the services they have issued in favour of the community from the validators.

The validators browse within the Service Log in order to confirm the legitimacy of the broker activity toward the execution of a contract signed with the end-user.

For this reason, the validator app should always be open source and verifiable by the community at any time. In case of misalignment between the validator app and the broker service, the smart contract will refund the fee paid excluding the share destined for validators. In case of misalignment between the two validators' audit results, the third validator lined up by the random selection will be called to audit. This third result will support one of the two conflicting audits and reveal the cause of the mistake or deception and trigger a penalty to the validator’s pool misaligned with the protocol.

The penalty of misalignment consists of a 10% fee reduction that will be distributed as a bonus to the two validators' pools in proportion with respect to their amount of YND in staking.

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