Are prices in smart contracts updated automatically every so often, or are they fetched only when needed?
Pull-based oracles store signed prices off-chain. When a transaction is made, the app submits the price along with it, and the on-chain contract uses it only after verifying the signature.
When using a DeFi protocol, check which type of oracle it uses. The more centralized the price-feed sources, the greater the risk.
$PYTH and $LINK are the tokens of the oracle networks Pyth and Chainlink, respectively.
If there’s anything I didn’t cover, share it in the comments.