This community-driven trigger initiates a new oracle election. The end of the validation cycle (and the beginning of the new one) is periodically triggered by users. Any Ethereum-user can trigger the new election cycle and earn rewards as follows:
- Users trigger the new election cycle manually at their own discretion (i.e. at the earliest after X blocks), and as a result the trigger user is incentivized with the Election Trigger User Reward (ETUR), which is a fixed reward.
The parameter for ETUR is subject to governance voting.
The oracle election consists of several distinct steps as described below:
- Election of new validators from all the potential LORCA candidates based on their score.
- The election is based on a snapshot of the current validator score using the following criteria: number of PL2 locked and the number of OVR earned.
- The community-driven Oracle Election Trigger function can be called at most once each week (e.g. ≈45500 blocks).
- If no election cycle is triggered manually, the DON continues with the previously elected oracle validators.
- After the validators have been elected, their balances of PL2 token locked and earned are snapshotted and used throughout the whole validation cycle.
Lightning Oracles may adjust their locked balance during the current validation cycle, but this adjustment will not take effect until the beginning of the upcoming validation cycle to allow oracles enough time to review their figures if necessary. Both the number of validators and the duration of the validation cycle are subject to governance voting.