Hardcoded Oracles

Some oracle routes include hardcoded legs.

That means part of the pricing path is not being discovered dynamically from live feeds. Instead, part of the route assumes a fixed relationship.

This is important because it changes what the oracle is really measuring.

Why this matters

A hardcoded leg can be perfectly intentional, but it introduces extra assumptions.

The tradeoff is usually:

• simpler route construction for a specific use case
• less direct market pricing for every part of the path

So when you see a hardcoded-oracle warning, the right question is:

what relationship is being assumed instead of priced?

Example: cbBTC / USDC

If a cbBTC / USDC market is using a BTC / USD feed, then the route is implicitly assuming:

• cbBTC = BTC
• USDC = USD

Those are the hardcoded legs.

That means the oracle is not independently pricing:

• cbBTC to BTC
• USDC to USD

It is assuming both relationships hold.

How to think about it

A hardcoded leg is not automatically wrong.

But it does mean the oracle is only as good as those assumptions.

So if one of those relationships is the exact thing you are worried about — for example a depeg or wrapper divergence — then a hardcoded route can hide the risk you most care about.