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The Oracle of the Lost was a powerful sentient that could predict future events.
Irving Braxiatel knew the Oracle from his early days of roaming the universe, with the Oracle deeming him an "old friend."
When Jason Kane discovered the location of the Oracle on KS-159, Irving Braxiatel bought the asteroid from Hayward Denson on Vega Station. (PROSE: Tears of the Oracle)
It was later housed in the Small Trianon on the Braxiatel Collection.
When the Fifth Axis occupied the Collection, they wished to use the Oracle for strategic purposes. They interrogated Irving Braxiatel to discover its location, but they found that it fed them false information that would be detrimental to the Axis, had they followed its predictions. They ceased their attempts to use the Oracle, unaware that Braxiatel had pulled a double bluff. (PROSE: Careless Talk)