1/6 This is good news! If you already trust the source, then there's no need for you to use decentralized oracle networks.
But don't take this as game over for oracles. Rather, this validates the need for off-chain data and shows why oracle protocols are needed. More below 👇
1) Thoughts on coinbase's oracle: the reason that exchanges want to be the oracle for defi is that we need settlement prices on defi. If you want to manipulate your on-chain derivative contract, coinbase wants you to do so paying fees on coinbase.
Now is the time for DeFi to make a choice on who it wants to be. 🤔 DefooFi (Decentralized *except for our oracle* Finance) doesn’t quite have the same ring to it. Choose the ADO: https://t.co/l290RebtYX
The Alliance Of Decentralized Oracles' mission is to enable smart contract creators to use decentralized oracles through plug-and-play, standard interfaces and protocols. more info here - https://t.co/S9eQ2og4uO