We are building a crypto native CPI called the FPI at our project so that the new generation of algostables like RAI, OHM, FLOAT, FRAX can peg to a floating standard of living index that is purely governed, updated, and published onchain.
We’re doing research if we can use something like BTC’s PoW difficulty as a gauge for global energy price averages standardized against BTC’s mcap. But the main issue is that ASIC efficiency is difficult to bring onchain without trusting an oracle whereas difficulty can be easily brought trustlessly through a BTC SPV smart contract. We could create some kind of Moore’s Law input where the expectation is doubling ASIC efficiency every 2 years and normalize against that+BTC mcap, but there must be better ways, no?
My main question here is: even if we figure out how to bring a trustless ASIC measurement, is there any research done on onchain, endogenous proxies for food/consumables and housing/rent? Assume we want global average and don’t care about particular regions for simplicity at first. That seems very difficult to measure without an oracle setup but worth asking here. Ideally it wouldn’t be just tracking the TWAP price of some custodial quasi-security token on AMMs since that’s not very novel. What interesting areas are there to explore in this crypto native CPI protocol that can be oracle-minimized/no-oracle?