Thread by @ChainLinkGod

.@CelsiusNetwork and @NexoFinance use Chainlink Feeds for some of their internal processes, but rely on centralized sources like CoinMarketCap to initiate the liquidation processes

Nexo:

https://twitter.com/NexoFinance/status/1404375582771712004

Celsius:

https://twitter.com/CelsiusNetwork/status/1404392461766696969

Not a Chainlink issue

These CeFi applications use centralized data feeds regarding market data for a key component of their infrastructure (when users are actually liquidated)

Here is an example of CoinMarketCap having issues

https://twitter.com/AshHODLingEth/status/1404370761490472970?s=20

And Coinbase having issues

https://twitter.com/cryptobuzznews/status/1404366565521256451?s=20

Chainlink Price Feeds leverage three layers of data aggregation at the data provider, oracle node, and network levels to prevent outliers and continuously provide accurate oracle reports

This is why Chainlink Price Feeds did not deviate at all
blog.chain.link/levels-of-data…

For proof you can reference data.chain.link and market.link which displays on-chain data (can be cross-reference with on-chain data)

For example, Nexo had issues with a $USDT/USD price feed, you can see here the Chainlink $USDT/USD price feed had no deviation

Celsius had an issue with their $MATIC/USD and $SNX/USD price feeds, but you can see here that the Chainlink Price Feeds for these assets had no deviation either

@NexoFinance and @CelsiusNetwork have the opportunity to fix these issues going forward by either using Chainlink Price Feeds as their primary source of market data, or use these feeds as a circuit breaker to prevent wild deviations from whatever off-chain source they use