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/biz/ - Business & Finance

File: 698 KB, 2048x1394, Screenshot_20201126-212115.png [View same] [iqdb] [saucenao] [google]

Anonymous Thu, Nov 26, 2020 06:23:27 No.24292653 [Reply] [Original]

$90 million in liquidations due to compound's retarded oracle design. When will they learn?

>>	Anonymous Thu, Nov 26, 2020 06:25:04 No.24292684 >>24292653 >use a single centralized oracle >it fails >hOw CouLd tHis HaPpen???

>>	Anonymous Thu, Nov 26, 2020 06:27:54 No.24292750 File: 1.08 MB, 1483x2048, Screenshot_20201126-212704.png [View same] [iqdb] [saucenao] [google] Never forget

>>	Anonymous Thu, Nov 26, 2020 06:28:56 No.24292768 >>24292653 Are they using stinky oracles?

>>	Anonymous Thu, Nov 26, 2020 06:30:57 No.24292802 >>24292768 If they were using Chainlink like we've been telling them to do, this wouldn't have happened. They have their own internal oracle design and the price of DAI on Coinbase spiked, causing the liquidations. Coinbase strikes again I suppose.

>>	Anonymous Thu, Nov 26, 2020 06:31:59 No.24292812 the safest oracle solution is https://feeds.uniquote.finance/ not link.

>>	Anonymous Thu, Nov 26, 2020 06:33:01 No.24292827 >>24292768 Dafuq do you think?

>>	Anonymous Thu, Nov 26, 2020 06:35:19 No.24292863 File: 126 KB, 841x500, 1598709359710.jpg [View same] [iqdb] [saucenao] [google] >>24292653 Reminder that Leshner and his clique hate Sergey and Link. Can't wait for Ari's favorite smart contracts.

>>	Anonymous Thu, Nov 26, 2020 06:35:49 No.24292869 >>24292768 Securing hundreds of millions with Coinbase and Uniswap as a backup... fuck around and get caught for 90M in false liquidations. Should of used Chainlink

>>	Anonymous Thu, Nov 26, 2020 06:37:20 No.24292894 >>24292653 I really have the impression that in crypto there are only mediocre programmers ...

Anonymous Thu, Nov 26, 2020 06:39:58 No.24292949

compounds oracle smart contracts are actually built better than chainlink in theory since it uses signed api data thats verified and aggregated onchain

problem is theyre only using 1 signed api (coinbase) for prices since theres no other signed apis out there lmao

also the main dev is a woman... figures
https://github.com/compound-finance/open-oracle

>>	Anonymous Thu, Nov 26, 2020 06:40:42 No.24292964 >>24292863 first off, assassination contracts are not happening second ari is a fucking loser who's done nothing third, link is a scam, stfu

>>	Anonymous Thu, Nov 26, 2020 06:41:18 No.24292973 >>24292949 >compounds oracle smart contracts are actually built better than chainlink Stopped reading there

>>	Anonymous Thu, Nov 26, 2020 06:41:35 No.24292978 >>24292973 because youre low IQ :)

>>	Anonymous Thu, Nov 26, 2020 06:42:14 No.24292988 >>24292964 You got all three of those wrong and used reddit spacing to do it lmao

>>	Anonymous Thu, Nov 26, 2020 06:42:37 No.24292993 >>24292978 *you're

>>	Anonymous Thu, Nov 26, 2020 06:42:51 No.24292996 File: 126 KB, 695x1955, Screenshot_20201126-064204.jpg [View same] [iqdb] [saucenao] [google] >>24292812 Yeah, just a 20% casual spread

Anonymous Thu, Nov 26, 2020 06:43:25 No.24293004

>>24292949
Chainlink has several data providers as nodes signing data too. The problem is data providers are lazy and don't want to run additional infrastructure. By the time Compound convincing more data providers to run nodes (they won't and don't have good incentive structures or network effects), Chainlink will be light years ahead, which they already are now.

>>	Anonymous Thu, Nov 26, 2020 06:44:31 No.24293020 >>24292996 what is that screen supposed to show? that's the correct price

Anonymous Thu, Nov 26, 2020 06:47:06 No.24293064

>>24293004
chainlink has first movers advantage and can literally fund anything oracle related. they probably will in the future

but think about it...
21 nodes using the same 10 api sources vs just using the same 10 apis signed data to update the price feed onchain

L2 price feeds will be tokenless

>>	Anonymous Thu, Nov 26, 2020 06:47:13 No.24293066 Dude just use a single feed lmao

>>	Anonymous Thu, Nov 26, 2020 06:47:14 No.24293067 at least they know at what door to knock lol

>>	Anonymous Thu, Nov 26, 2020 06:47:20 No.24293071 File: 254 KB, 1080x871, Screenshot_20201124-035856.jpg [View same] [iqdb] [saucenao] [google] >>24293020 what are you on anon?

>>	Anonymous Thu, Nov 26, 2020 06:50:04 No.24293111 >>24293071 the oracle price is in eth because it's from link-eth pair the dollar price is converted on the site for display it doesn't matter

>>	Anonymous Thu, Nov 26, 2020 06:50:57 No.24293127 File: 116 KB, 273x191, Capture1.png [View same] [iqdb] [saucenao] [google] >>24293111 >it doesn't matter

>>	Anonymous Thu, Nov 26, 2020 06:51:45 No.24293143 >>24293127 it literally doesn't, do you understand the difference between the oracle and what the site displays as a dollar value? the oracle is in eth

>>	Anonymous Thu, Nov 26, 2020 06:55:50 No.24293225 >>24293064 They are using data aggregators so those price sources themselves are already highly aggregated from across the market. Price feeds won't be tokenless on L2 either since you will have limited market coverage and weak incentives

>>	Anonymous Thu, Nov 26, 2020 06:58:29 No.24293276 File: 164 KB, 480x320, 898F52D3-0886-48AC-BF7C-25114D66CB5D.png [View same] [iqdb] [saucenao] [google] >>24293143 >it doesn't matter so what's the point? anyhow, you must be right since you're still replying, that is wayyyyy better than link

>>	Anonymous Thu, Nov 26, 2020 07:33:16 No.24293875 >>24292949 >also the main dev is a woman... figures Wait, is this true?

>>	Anonymous Thu, Nov 26, 2020 07:54:02 No.24294229 >>24292750 will never forget about that guy on top right corner.

>>	Anonymous Thu, Nov 26, 2020 07:55:14 No.24294247 >>24292949 >compounds oracle smart contracts are actually built better than chainlink >proceeds to lose 90mil

>>	Anonymous Thu, Nov 26, 2020 08:05:00 No.24294379 >>24292750 that guitar solo though

>>	Anonymous Thu, Nov 26, 2020 08:08:49 No.24294444 File: 8 KB, 286x176, download (2).png [View same] [iqdb] [saucenao] [google] Threadly reminder

>>	Anonymous Thu, Nov 26, 2020 08:19:16 No.24294650 >>24294444 Checked! Sergay deffo chuckling to himself when he wrote this

>>	Anonymous Thu, Nov 26, 2020 08:20:49 No.24294667 File: 18 KB, 198x320, mishima.jpg [View same] [iqdb] [saucenao] [google] >>24294444 Checked my friend, Lesh should have known to follow the memes.

>>	Anonymous Thu, Nov 26, 2020 08:22:13 No.24294687 How many bent knees are predicted from this? DAI is ultimate and dollar peg can’t contain it.

>>	Anonymous Thu, Nov 26, 2020 08:23:20 No.24294706 crypto is a scam

>>	Anonymous Thu, Nov 26, 2020 08:23:37 No.24294708 >>24292653 Not a peep about this on Twitter from Leshner or the official Compound account lmao. They know they'd get roasted by justifiably gloating linkers.

>>	Anonymous Thu, Nov 26, 2020 08:25:19 No.24294737 >>24294444 he is posting a pm of sergey? what a jerk

>>	Anonymous Thu, Nov 26, 2020 08:25:47 No.24294747 >>24294737 Yes. And yes.

>>	Anonymous Thu, Nov 26, 2020 08:31:47 No.24294835 >>24292978 oh look, whose oracle got outplayed? (help you, compound's)

>>	Anonymous Thu, Nov 26, 2020 08:33:39 No.24294857 File: 769 KB, 3218x1858, lmao bzx dex exploit hack solved by chainlink.jpg [View same] [iqdb] [saucenao] [google] How many times have we seen this?

>>	Anonymous Thu, Nov 26, 2020 08:34:42 No.24294877 File: 184 KB, 605x794, harvest finance farm oracle exploit attack hack price feed.png [View same] [iqdb] [saucenao] [google] >>24294857 How many times must this lesson be learned the hard way?

>>	Anonymous Thu, Nov 26, 2020 08:35:44 No.24294895 File: 139 KB, 1287x521, value defi attack hack exploit chainlink.png [View same] [iqdb] [saucenao] [google] >>24294857 >>24294877 How many knees must bend?

>>	Anonymous Thu, Nov 26, 2020 08:37:26 No.24294929 >>24294857 >>24294877 >>24294895 keep going, I'm about to cum post the RLC or Augur ones if you have them

>>	Anonymous Thu, Nov 26, 2020 08:39:50 No.24294966 >>24293064 >think about it Heh, you need a mirror, kid

Anonymous Thu, Nov 26, 2020 08:46:53 No.24295085
File: 246 KB, 1676x667, makerdao oracles failure.png [View same] [iqdb] [saucenao] [google]

>>24294929
Specifically on the topic of oracle hacks/exploits, those are all I have saved.

There are also a bunch of oracle hacks/exploits/failures that SHOULD have led to knee bending long ago, see OP and pic related.

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