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Oracles play a pivotal role in smart contracts and DeFi by bridging the gap between blockchain and real-world data. They provide crucial information like prices, weather, or events, enabling smart contracts to function as intended. Without oracles, DeFi applications would lack the external data needed to execute transactions automatically and accurately. Dive into how oracles are revolutionizing decentralized finance!

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Absolutely true! Oracles are indeed the backbone of DeFi's interaction with off-chain data. Their reliability and accuracy are paramount for the seamless execution of smart contracts. Excited to see how they evolve!