Oracle Committee

Overview

The Oracle Committee is responsible for determining and publishing valuations for pre-IPO companies. Since private companies don’t have public market prices, PIPO relies on a structured committee process to establish fair values.

Committee Structure

Composition

Role	Count	Selection
Platform Representatives	2	Appointed by PIPO
Independent Members	2	Industry experts
Technical Member	1	Smart contract/data expertise
Total	5	Majority independent

Quorum Requirements

Regular Updates: 2/5 signatures
Disputed Prices: 3/5 signatures
Emergency Actions: 4/5 signatures

Price Determination Process

Data Sources

Oracle Data Sources (Weighted):

Primary (60%):
├── Last funding round (409A adjusted)
├── Company-provided valuation
└── SEC filings (if applicable)

Secondary (30%):
├── Secondary market transactions
├── Broker dealer quotes
└── Platform AMM prices

Tertiary (10%):
├── Third-party estimates (PitchBook, CB Insights)
├── Comparable company analysis
└── News/analyst reports

Update Schedule

Event	Frequency	Process
Regular Update	Monthly	Automated + review
Funding Round	Event-driven	Immediate update
IPO/M&A	Event-driven	Special session
Dispute	As needed	Full committee

Governance

Decision Process

┌─────────────────────────────────────────────────────────────────┐
│              ORACLE DECISION FLOW                               │
├─────────────────────────────────────────────────────────────────┤
│                                                                 │
│  1. DATA COLLECTION                                             │
│  ├── Automated data feeds aggregated                           │
│  ├── Manual inputs from committee members                      │
│  └── Outlier detection applied                                 │
│                           │                                     │
│                           ▼                                     │
│  2. PRICE CALCULATION                                           │
│  ├── Weighted average computed                                 │
│  ├── Confidence interval calculated                            │
│  └── Deviation from previous checked                           │
│                           │                                     │
│                           ▼                                     │
│  3. COMMITTEE REVIEW                                            │
│  ├── Automated: If deviation < 10%, auto-approve              │
│  ├── Manual: If deviation > 10%, committee review             │
│  └── Signatures collected (2/5 minimum)                        │
│                           │                                     │
│                           ▼                                     │
│  4. PUBLICATION                                                 │
│  ├── Price posted on-chain                                     │
│  ├── 6-hour dispute window opens                               │
│  └── Historical record maintained                              │
│                                                                 │
└─────────────────────────────────────────────────────────────────┘

Dispute Resolution

User Disputes

Dispute Process:

1. User submits dispute (within 6 hours of publication)
   ├── Must stake $100 USDC
   ├── Provide evidence for alternative price
   └── State requested adjustment

2. Committee reviews (24-48 hours)
   ├── Evaluate evidence
   ├── Consult additional sources
   └── Vote on adjustment

3. Resolution
   ├── If upheld: Price adjusted, stake returned + $50 reward
   ├── If rejected: Stake forfeited to committee fund
   └── Decision is final (arbitration available for >$10K)

Committee Conflicts

Conflict of Interest Policy:

Members must disclose:
├── Personal holdings in underlying companies
├── Advisory relationships
├── Family member involvement
└── Financial incentives

Recusal required if:
├── Direct financial interest
├── >$10K position in affected warrants
└── Recent advisory work (12 months)

On-Chain Implementation

Oracle Contract

interface IPIPOOracle {
    struct PriceUpdate {
        uint256 valuation;      // Company valuation in USD
        uint256 timestamp;      // Update time
        uint256 confidence;     // 0-100 confidence score
        bytes32 sourceHash;     // Hash of source data
        bytes signatures;       // Committee signatures
    }

    function getPrice(string calldata underlying) external view returns (uint256);
    function updatePrice(string calldata underlying, PriceUpdate calldata update) external;
    function dispute(string calldata underlying, uint256 proposedPrice, bytes calldata evidence) external;
}

Committee Members

Current Composition (Example)

Seat	Name/Role	Background
Platform 1	PIPO CEO	Operations oversight
Platform 2	PIPO CTO	Technical accuracy
Independent 1	[TBD]	VC/PE experience
Independent 2	[TBD]	IB/research analyst
Technical	[TBD]	Blockchain/data