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Bgdlabs proposed operational updates to Aave's oracle aspects, including unifying WBTC pricing, activating the Price Oracle Sentinel on Aave v3 Optimism, and updating the Generalized price sync components. The community has shown strong support for the proposal, which is expected to increase consistency across Aave instances and decrease the likelihood of liquidations.
This discussion revolves around a proposal by Bgdlabs for operational updates to different oracle aspects across Aave instances1. The proposal includes unifying the pricing of WBTC based on a WBTC feed, activating the Price Oracle Sentinel on Aave v3 Optimism, and updating the Generalized price sync components, specifically for LSTs1. The proposal also includes configuring the deprecated fallback oracle address to address 0 on Aave v3 and other legacy instances for operational consistency13.
The community has shown strong support for the proposal. ChaosLabs expressed full support and discussed the benefits of the update, particularly the decreased likelihood of liquidations2. Oneski22 sought clarification on the activation of the Price Oracle Sentinel3, and MarcZeller expressed gratitude for the update and pledged to vote accordingly6. Portkey also thanked BGD for their consistent innovation and upgrades8. Gauntlet expressed excitement about the update11.
The proposed updates are expected to bring about consistency across Aave instances and decrease the likelihood of liquidations. The activation of the Price Oracle Sentinel on Aave v3 Optimism will prevent new borrowings and liquidations from being processed if the network infrastructure is down, giving users a grace period to refill their positions and avoid liquidation1. The community's positive reaction and support for the proposal also indicate its potential benefits.
While the proposal has been largely well-received, it does involve some complexities. For instance, more time needs to be allocated to study the pricing dynamics of the on-chain exchange rate of cbETH, so it will not be included in the proposal5. However, this is a minor issue and does not detract from the overall positive impact of the proposed updates.
Posted 6 months ago
Last reply a month ago
Summary updated a month ago
Last updated 06/12 00:43