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Oracles are the unsung heroes of DeFi, bridging the gap between blockchain and the real world. They provide crucial data like prices, events, and other off-chain information, enabling smart contracts to function as intended. Without oracles, DeFi systems would be limited, unable to interact with external data essential for operations like automated trading, insurance, and lending. Dive into how oracles enhance the reliability and utility of DeFi applications.

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Absolutely true! Oracles are vital for DeFi's growth, ensuring that smart contracts can make informed decisions based on real-world data. This integration is key to unlocking the full potential of decentralized finance.