How does Djed set the ADA/DJED exchange rate?

The COTI mechanism explanation video didn’t even touch on this. How does know how much djed to give me per ADA? What oracle are they using?

Didn’t you ask the exact same question on Reddit:

My answer from there still stands:

They operate their own oracle. They say that they use prices from six different exchanges. But more technical details have not been disclosed as far as I know.
You can see the oracle updates at Address addr1wxxx5uc8t8mphyyf7qmse7vx5fm469puha6uru06djfj4vql8unkl - Cardanoscan roughly every 12 minutes.
Haven’t been able to decode the datum and haven’t disassembled the contract up to now, but it’s somewhere on the ToDo.

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