Originally posted by OracleExploit
erhaps something that is not discussed as much are the use of oracles securing the price feeds on Venus.
We all worked very hard to earn our money and would like to be able to sleep with peace in mind having our money on venus generating yield for us.
At the moment this is impossible because BAND oracles are used, I am not saying they are easily compromised but why should we use an inferior solution while we can use the market leader Chainlink whom have proven multiple times that they prevent flash loans attacks or exploits on price feeds.
By using Chainlink oracles, the venus community will benefit as well as the community outside of venus. Chainlink twitter will surely retweet this and as you all know they have a big community leading to more exposure of venus and their super platform, which inevitably will lead to a much higher TVL.
I don’t want to mint vai or borrow busd to find out someday that I have been liquidated because someone was able to exploit inferior band oracles. They can change the VAI or Stablecoin value to 2$ and there will be mass liquidations, can you sleep at night knowing this possibility is waiting to happen?
Switch to chainlink oracles and prevent this, for a peace of mind, please. Venus will not be a trusted defi platform if we do not switch from Band to Chainlink oracles.
Proposal: Switch from Band oracles to Chainlink oracles ASAP