Since publishing the article (in late 2020), the number of high-profile oracle failures has only grown, e.g. In his numerous examples, the oracle reports a stale, incorrect, or manipulated price, that an attacker subsequently exploits. In an excellent post, "So you want to use a price oracle," samczsun offers an exhaustive summary of oracle exploits. This framework can be applied to the separate cases of the LIBOR index and the on-chain Pyth oracle, to understand which elements are designed well and which elements require further work.In order to achieve both goals, we propose that price oracles align incentives internally, by having oracle operators stake reputation, collateral, and trading capital on the integrity and timeliness of the data.Price oracles must be both accurate and timely, but often those two goals directly conflict.
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