Maker is fucked. They just caught a $48 million class action lawsuit

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>implying it wasn't a fucking dead dog with fleas from the get go

What's this all about?
t. living in cave

On Black Thursday Maker's auctions malfunctioned. $8 million worth of ETH was liquidated from Maker for 0 dollars.

>DECENTRALIZED FINANCE

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>CODE IS LAW!!!!!!!!

THEY DIDN'T READ THE OPEN SOURCE CODE RIGHT IN THE CONTRACT

what does this mean for chainlink

It means an even higher demand for actually secured reliable tamper proof decentralized oracles. It means chainlink gets more recognition since it actually solves this problem.

explaining a bit further

During the crash, the ETH network experienced heavy congestion and increased gas prices. Price oracles, parts of the system responsible for fetching market prices, were delayed.

Once the price oracles came back with the news of the market crash, the updated system deemed a large number of vaults to be under-collateralized all at once.

Hopefully you can see from events like this one why Chainlink is fundamentally critical infrastructure for smart contracts.

>critical structure in a paddle boat

Was Maker using any sort of oracle? Or was it only bidding? And is AAVE immune from that specific behavioral malfunction?

it means that all these little faggots sticking their fingers in their ears about chainlink and building their centralized or shit oracles, because now they have a very real risk of a huge lawsuit when their shit fucks up.

They deserve it though, they could have partnered up but they CHOSE to be salty.

>be a crypto platform
>get sued for not using Chainlink

YOU
JUST
WIN

A risky asset that derives its price from another risky asset that derives its price from another risky asset, which derives its price from bitcoin...

What could go wrong.

Using their own, even when they were warned.

Maker is not decentralized and is a scam. They are also getting to get buttfucked by the SEC and FinCEN when their time finally comes. Imagine the estrogen levels of someone who gets scammed by these faggots. Ethercucks deserve the rope

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here's an example of an idiot that got liquidated.

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Seriously hopefully they go under for being cock sucking faggots. Muh hubris losers

its so sad that link wont even be killed by lawsuits. the single moment they show a single profitable customer, slightly bigger boys will scoop in and fuck their milkshake up.
then eventually the biggest of the biggest will enter the game and rule it. who is going to not use a JPM oracle?

You fucking lier, it had nothing to do with oracles and link would not have solved this problem. The problem was that the network was congested and only one auction bid bot from dozens was programmed to bid with over 200 gas price. All others failed because they were programmed that way. Now comes the kicker: The MakerDao devs themselves wrote the code for the bots, people just needed to copy, plug and play. The MakerDevs also changed the auction time from 3 hours to 10 minutes!!! You can dig all of this in their github. So it was likely an insider who programmed his bot to bid at over 200 gas. But it had nothing to do with oracles you fuckin link shill.

>malfunctioned
I thought one of Maker’s devs changed bidding times and took advantage of the chaos to scam the poor bastards that had their life savings in the project.

>t.salty no linker
It´s alright man, you still can buy in

THAT'S WHAT HAPPENS TO ALL NONBELIEVERS

CONVERT AND BECOME A RADICAL CHAINLINK FUNDAMENTALIST

ALL PRAISE BE UPON SERGEY NAZAROV

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What the fuck do I have to read to be able to understand all this crypto coin shit you guys are talking about?
I was on Yas Forums back in the day when bitcoin was new and people were giving out hundreds for free. I didn't grab any because I didn't understand any of it.
You fuckers seem to know something.

Just buy Chainlink
At least 1000
And never stop buying

This is just too easy guys

The only user in this thread who knows.

Chainlink couldn’t have helped, unless all the node operators were paying 200 gas every call. If Chainlink WAS involved, they’d probably be getting their asses sued as well. If not by the vault owners then by MKR.
tl;dr buy Kleros

How would kleros have helped?

cucks

retard

That's exactly what did happen. Node operators were eating massive gas fees for hours.

this. plenty of others ready to take over after the recent fiasco

>n-NO chainlink wouldn't have helped OK? Ok buy Kleros.