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Following recent price manipulation that have led to DeFi hacks, and with over $1bn currently sitting under protocol, Coinbase has entered the mix via Open Oracle to provide a cryptographically secure data feed for prices to help keep those funds secure.
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"A highly reliable price feed anchored into Coinbase’s secure infrastructure can help make the DeFi ecosystem safer, reduce systemic risks and unlock the next wave of growth and adoption," according to the post. The oracle is being supported by the same secure key storage infrastructure that supports Coinbase's exchange operations, storing billions in user funds. It further offers protection against manipulation of prices by exchanges or invalid data.
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