/biz/ - Business & Finance

>>56854835

Derivatives, options trading, most things CCIP related. Basically anything where faulty data leads to big losses.

The purpose of staking is to offload some risk from the developers running some protocol to the chainlink node operators. In other words, if a node operator fucks up, they get their tokens slashed and the developers receive a cut to pay for the potential profit lost. This in turn incentivizes node operators to make sure they're delivering non faulty data. And they're further incentivized by reporting any malicious nodes because the first one to report a malicious node gets his stake. If It's 1 versus 2 of a 3 node DON, if the 1 can prove he's honest, he gets the other two node's stake. They call this super linear staking since you need to get all nodes to collude else it would be more profitable for a single actor to backstab and snitch. With 3 Nodes, the cost would end up being 3 Nodes * C Collateral amount for each Node. So 3*3*C in total. With N nodes, it would be N*N*C.

Im starting to suspect people not adopting chainlink at this point have something to gain from exploitation of their own protocols.

>>24820259
This.
I'm guessing the bigger the project, the bigger the ego.

Pic related, Compound's oracle failure from late November.

because the VCs have other plans

OFC I FUCKING HOLD I BOUGHT THIS AT A STEAL AT $2.1
NOT SELLING AT $1.7
NOT AT $5
NOT AT $10
NOT AT FUCKING $100

I DONT GIVE A FUCK THIS SHIT WILL MAKE ME AND DICKKHEAD VCs (pic related) RICH

>>24641478
>It's not exclusively doing this job
lmao yeah you're right, there are other "oracles". Pic very related.

>>24599836

>>24413449
>compound don’t even use it

With hilarious consequences.

And Decrypt.

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

https://decrypt.co/49657/oracle-exploit-sees-100-million-liquidated-on-compound