Price feeds are external data sources that supply real-time asset price information to smart contracts on a blockchain. These data streams are crucial for decentralized applications, particularly in DeFi, where accurate and up-to-date pricing is essential for lending protocols, stablecoins, and derivatives. Oracles typically deliver these feeds, acting as bridges between off-chain market data and on-chain execution logic. The reliability and security of price feeds are paramount to prevent manipulation and ensure the correct functioning of financial protocols.
Context
The integrity and decentralization of price feeds remain a critical area of focus and debate within the blockchain ecosystem. News frequently highlights incidents where compromised or inaccurate price data led to significant losses in DeFi protocols. Ongoing advancements aim to enhance the robustness and censorship resistance of oracle networks. The dependable provision of external data is fundamental for the stability and trustworthiness of decentralized finance.
Exploiting thin liquidity and internal price feeds in pre-launch contracts enabled coordinated whale activity, leading to significant trader liquidations.
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