The sticky note is still stuck to the edge of the monitor. The words "check the oracle price source" I wrote last year are already curling at the edges. After the recent cross-chain bridge incident, people in the group chat were again saying a certain stablecoin was "suspected of depegging." My first reaction wasn't to run—it was to open my browser and check the update date of the reserve proof. It was still showing three days ago.



To be honest, a bank run is just like a charger. You know it's there, but when you really need it, you find the connection is bad. I've also seen the "wait for confirmation" consensus after abnormal oracle quotes. Everyone says they'll wait, but their bodies are honest—the chain's gas fees spike first.

As for reserve transparency, if you believe it, you believe it. Those who don't, you can show them an audit report and they'll still think the PDF can be photoshopped. Anyway, I'll just stick with my approach for now. I won't replace the sticky note, and I'll keep checking what needs to be checked.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned