Hello @sleezyggg. As you correctly point out, the Price Oracle Sentinel depends on Chainlink’s L2 Sequencer Uptime feed, and you are also correct that no downtime was triggered during the last days.
From our investigation and communications with the Chainlink team, the reasons are the following:
- The network was not “down” for a long time, but it had degraded performance due to important transactions load.
- The L2 Sequencer has certain time sensitivity in the order of low minutes, to be in good equilibrium of precision while avoiding too many false positives. From point 1), as the total downtime was not really long, the oracle didn’t update.
- Generally, the Price Oracle Sentinel (and more precisely the L2 Sequencer) is not a perfect mechanism, as it deals with a pretty complicated problems: which is the right entity to read a health check from? Or should a massive “queue” of pending transactions be considered downtime?
Certainly there are ways of improving it, but not trivial.
We will also invite members of Chainlink to comment on the matter.