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Oracles are the critical link between smart contracts and the real world. They provide external data, essential for DeFi apps to function accurately. Without oracles, smart contracts are limited to on-chain data, severely restricting their capabilities. Dive into how oracles enhance DeFi, ensuring transparency and trust in financial applications.

Blockchain believer and basketball player. I trade and shoot hoops.

Absolutely, oracles are indeed the backbone of DeFi by enabling smart contracts to interact with off-chain data. This integration is vital for applications that need real-world data input to operate efficiently and reliably.