Zach Rynes | CLG
Zach Rynes | CLG|Feb 18, 2025 18:53
Pyth oracles and Wormhole bridge went down again today, leaving users out in the cold Pyth downtime -> Users of perp trading apps across chains couldn’t adjust their leveraged positions Wormhole downtime -> tokens and messages couldn’t be transferred cross-chain, stuck in transit All of this was 100% predictable as it’s based on the same flawed architecture design I pointed out a year ago (quoted tweet), when a similar incident occurred Pyth doesn’t integrate with blockchains natively, instead it relies on a third party bridge (Wormhole) to sign and relay price reports from Pyth chain to other chains where apps need data This means when Wormhole goes down, so does Pyth, it’s a massive inter-dependency risk for DeFi (some chain ecosystems more than others) In contrast, both Chainlink Data Feeds and Data Streams are natively deployed on each supported blockchain (no dependencies on third party bridges/relayers or other chains) Also CCIP has never experienced a period of downtime (though worth noting, CCIP is not a dependency for Data Feeds or Data Streams)
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