Pulse & the price oracle

Pulse shows live price and momentum for DRC-20 Coins. The honest answer to "where do these numbers come from" is: two different pricing mechanisms depending on where a coin is in its life, both driven by confirmed on-chain activity, plus a small internal service that picks the right one and adds fiat conversion — described below without pretending it's a black-box price feed.

Bonding-curve pricing, for new launches

A newly-launched coin prices itself against a bonding curve rather than an order book: the more DOGE that's been committed into it, the higher the next unit costs. Each coin's current price is recalculated the moment a bonding-curve buy confirms on-chain, as part of settling that same trade. Nothing polls for this; the price update is a side effect of settling the trade.

Flight stages: when a coin graduates

A coin moves through four stages purely as a function of how much DOGE has been committed to it — fixed thresholds, not a per-coin target:

Once a coin passes Ignition, its price stops being the bonding-curve formula and becomes real pool pricing.

Pool pricing, once a coin graduates

Past Ignition, price comes from the pool instead — the same reserves-ratio math the Swap / AMM quote endpoint uses to price a trade before you submit it. Pulse reads the same pool state Swap does, so the price you see in Pulse and the quote you get from Swap should always agree.

The resolver — where "oracle" actually means something here

Pulse doesn't decide which of the two mechanisms above to trust on its own — a small internal price resolution service sits in front of both, picks bonding-curve or pool pricing based on the coin's current flight stage, and layers one more thing neither mechanism can provide: DOGE → USD fiat conversion, which has no on-chain source and has to come from outside Dogecoin. That rate is checked periodically and refreshed from external references (with more than one, so no single source is a hard dependency) whenever it goes stale — everything else stays sourced from on-chain state as described above. This service is internal infrastructure, not a public endpoint documented here.

What this means for integrators

• DRC-20 ↔ DOGE pricing is always a read of confirmed chain state — bonding curve pre-graduation, pool reserves after. Only the DOGE ↔ USD leg touches anything external.
• Don't expect sub-block price movement for a bonding-curve coin — it only changes on a confirmed trade.
• For anything trade-critical, call Swap's quote endpoint directly rather than reading a displayed Pulse price, which may be a render tick behind the latest confirmation.