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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


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24308970 No.24308970 [Reply] [Original]

kek, Serg spoke about the Compound failure

>“Close to $90m of loans were liquidated on @compoundfinance over the last 24hrs, with bulk of it DAI likely due to oracle issue as Coinbase DAI/USDC spiked to $1.3 momentarily, also the pair where yield farming is concentrated,” tweeted a crypto researcher known as Arthur.
>Sergey Nazarov, co-founder of Chainlink, spoke to Decrypt about the risks associated with centralized oracles.
>“DeFi protocols with centralized oracles that rely on a single exchange of any kind (Off-chain or DEX) or even a limited number of individual exchanges for their price data, are exposing user funds to significant risks,” Nazarov said.
>What's more, the Compound liquidation is yet another sign that users might start to veer towards protocols with more decentralized oracles. “I expect that the realization of these technical risks by users will eventually drive them to use DeFi protocols that have decentralized and provably secure oracles, just like users are now highly sensitive to the private key security of off-chain exchanges,” Nazarov added.

>> No.24309663

>>24308970
I don't speak nerd. I just buy it at the dips and hold because of the memes.