🗂️ Today's key takeaway: Oracles
Lending and derivatives protocols use oracle-reported prices to calculate collateral value and execute liquidations.
When choosing a DeFi protocol, pay attention to which oracle it uses. The more concentrated its price sources, the higher the risk.
If you don't understand a product, don't take a large position in it. It's safer to try it with a small amount first.
$LINK is the token of the decentralized oracle Chainlink. Currently 11.342.
Lending and derivatives protocols use oracle-reported prices to calculate collateral value and execute liquidations.
When choosing a DeFi protocol, pay attention to which oracle it uses. The more concentrated its price sources, the higher the risk.
If you don't understand a product, don't take a large position in it. It's safer to try it with a small amount first.
$LINK is the token of the decentralized oracle Chainlink. Currently 11.342.
