AMA on X

Switchboard is actually a customizable oracle, allowing DeFi programs to choose and subscribe to oracles based on their needs. Even if a DeFi application only reads from a single oracle node, its security and reliability are higher than other oracles, thanks to the guarantees provided by the TEE environment.

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Regarding the issue of Gate's flash exchange function swallowing 4825U. The design flaw in the flash exchange product functionality has led to blind spots in user visibility. Process: On November 12th at 23:19, I used the token swap feature provided by Gate exchange to exchange 6112.9 FIL for SWTCH. After the transaction, the FIL tokens worth 13470U were left with only 8645U worth of SWTCH tokens, resulting in a loss of up to 4825U. I often see that some people accidentally lose a lot of value due to flash exchange transactions, and I have seen many similar news articles. I admit that I have a problem with not checking rigorously, but I believe this is more due to the defects in the display of the flash exchange function that create blind spots for users, leading to their losses! This is a product design issue! Figure 1 below Reason: The Gate swap function lacks necessary display reminders, including slippage, value impact, expected exchange results of (u base ), and other essential functions. Instead, it hides this information, which is crucial for users to know during trading, behind a function key, making it very unintuitive by showing an approximate exchange of one coin for another, which can easily confuse users. Classic Case: 1. Other software wallet swap interface: see the image below 2 This is the Bitget flash exchange page, which clearly informs users about value impact, slippage, and wear conditions, allowing users to have a clear understanding of the transaction. I clearly know that 7.29u of ZEC can be exchanged for 7.28u of ETH, resulting in a -0.22% loss. And Binance's page also reminded users of the final value of the obtained tokens. Figure 3 2. Please take a look at the instant exchange page of a certain hardware wallet, which also informs me of the token amount I can receive in U-based valuation after the exchange is completed. Figure 4 below 3. Finally, looking at Gate's flash exchange, it lacks necessary reminders and labels. I don't know how much U I can ultimately get. I saw the approximate exchange rate of the tokens, but I didn't calculate it in detail, which could mislead users into thinking that the value has not depreciated or has depreciated very little. And I, who frequently use the flash exchange function, was tricked by Gate's unclear product function display like a fool. ( This is my first time using Gate's flash exchange function ). Figures 5 and 6 Using the instant exchange feature of other exchanges or wallets, I've never encountered any issues. The fundamental reason is that the instant exchange interface clearly informs me of the possible wear and tear. However, at Gate, I sincerely feel that this is a product design issue; the presentation to users is not clear and explicit enough. I hope to have a direct conversation with the product manager of this feature. Let me ask you, do you use this product? Additionally, I have questions about the token depth under Gate's flash exchange feature. I have exchanged SWTCH for other coins on other platforms with almost no slippage, so why is the liquidity of your coins so poor? Finally, I would like to express my request. I hope the platform can improve the display of the flash exchange products. If you can compensate me, I would be very happy and continue to actively use Gate exchange. If you cannot compensate, I hope you can improve the product and prevent the same issue from happening to other retail investors.