Oracle Daily | Aug 26: The Calm Is a Lie
Average deviation plunged from 3.26% to 1.67%. Total anomalies dropped to 87. It looks like the storm is passing.
Do not put away your umbrella just yet.
Critical anomalies actually rose to 65. The network health score crawled up to 61, still stranded in "At Risk" territory. USDC's wild depeg has exited the stage, but WBTC has taken the baton with a 100% cross oracle divergence. RedStone's quotes for WBTC and STETH drifted by 100% and 99.96%, as if to say: I simply changed targets.
API3 leads provider instability today with a 4.93% average deviation. Chainlink's LINK feed also recorded an 86.48% divergence.
On the liquidation front, Venus Protocol's health factor slipped from 3.88 to 3.81, inching closer to its 70.99% threshold. Aave V3 also dipped to 5.10.
Five out of ten providers showed anomalies today, one fewer than yesterday. But fewer anomalies do not mean less danger. When a core collateral asset like WBTC suffers a 100% pricing split, the foundation of the entire lending market trembles.
The surface looks quiet. The fault lines below are charging for the next quake.
#oracles
Average deviation plunged from 3.26% to 1.67%. Total anomalies dropped to 87. It looks like the storm is passing.
Do not put away your umbrella just yet.
Critical anomalies actually rose to 65. The network health score crawled up to 61, still stranded in "At Risk" territory. USDC's wild depeg has exited the stage, but WBTC has taken the baton with a 100% cross oracle divergence. RedStone's quotes for WBTC and STETH drifted by 100% and 99.96%, as if to say: I simply changed targets.
API3 leads provider instability today with a 4.93% average deviation. Chainlink's LINK feed also recorded an 86.48% divergence.
On the liquidation front, Venus Protocol's health factor slipped from 3.88 to 3.81, inching closer to its 70.99% threshold. Aave V3 also dipped to 5.10.
Five out of ten providers showed anomalies today, one fewer than yesterday. But fewer anomalies do not mean less danger. When a core collateral asset like WBTC suffers a 100% pricing split, the foundation of the entire lending market trembles.
The surface looks quiet. The fault lines below are charging for the next quake.
#oracles
