Not Every Asset Comes With a Perfect Price
Imagine a lending protocol accepting three types of collateral:
BTC
Easy to understand. Deep market.
A yield-bearing token
More complicated.
A tokenized Treasury or reserve-backed asset
Now the pricing problem gets even harder.
The third asset may not trade with the same liquidity or market structure as BTC.
So simply asking an exchange:
“What's the price?”
may not be enough.
This is one reason I find $DIA 's focus on vault infrastructure interesting.
DIA's current platform describes support for pricing a broad collateral spectrum including liquid tokens, yield-bearing assets, tokenized treasuries and stablecoins with complex reserves, including assets that don't have liquid markets.
For DeFi, this is critical.
Because collateral isn't just another asset.
It's the foundation of the risk model.
Bad valuation → bad collateral ratio → bad risk decision.
As more financial assets move onchain, the difficult oracle problems may increasingly come from assets that don't have a clean market price.
That's where the real test of oracle infrastructure begins.