Having the data being generated on-chain doesn't necessarily mean it's trustworthy
There have been numerous incidents involving DEX-based price oracles that led to millions in user funds getting lost
Promoting their usage is just downright dangerous in my opinion
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1) I think this is very different on Ethereum vs Solana. When it takes minutes to trade on a DEX and lots of tx's fail, you can't reliably hedge; that's way easier on Serum.
2) A lot of this is solved using EWMAs. E.g. mid(last, bid, offer), bounded by 5% away from 5m EWMA.
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As are oracles on Ethereum layer 2, the issue here isn't the speed of the underlying blockchain, it's the market coverage and tamper resistant of the oracle price feed
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Yup! Serum oracles also won't work trustlessly --> Ethereum, or vice versa.
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Sounds like we need some type of blockchain agnostic decentralized oracle network 🤔 hm maybe one day
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Aren't there any deployments of SERUM DEX using ChainLink as the oracle?
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Considering none of you replied, I’m assuming there isn’t a project doing this. and I have been toying with the idea of building on top of Solana since made it easy to build with SERUM DEX. So why don’t we use $LINK as the price feed, and see how it pans out?
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I think there might be something going on there, but don't know the progress