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Why are these guys so intelectually dishonest? Nothing happened on $AAVE thanks to $LINK oracles! The evidence is in plain view.

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SBF

@SBF_FTX

Nov 30, 2020

10) So whatever oracle you use for DAI, $100m of buying or selling pressure well blow it out.

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did you even fucking read my thread? "a) LINK is pretty good as far as DeFi oracles go right now" "Right now, frankly, something like 'median of CEX orderbooks' is probably the best oracle." I called LINK the best oracle! What more do you want?

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and

Did the "$100m of buying or selling pressure" blow out $LINK oracles? You are making it sound like it was inevitable and, I repeat, nothing happened on $AAVE, it was just another day at the office.

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That's because there *wasn't $100m of buying pressure. There was like $10m of buying pressure! Which was enough to blow out Coinbase, but not other exchanges. Coinbase is something like 30% of the CEX volume for DAI, so ~3x that ($30m or so) would prob blow out all CEXes.

SBF

@SBF_FTX

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@SBF_FTX

And that in turn would have taken down almost any oracle. Unless you were using Uniswap! Which is... about as liquid as CEXes for DAI. And in fact blew out 10% during the liquidation. So $30m on Uniswap also would have blown it out. so $100m could have blown out everything.

12:27 PM · Nov 30, 2020Twitter Web App

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And once every exchange--CEX or DEX--is trading at 1.30, no oracle is really going to save you.

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