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Chronicle, the Oracle Provider for MakerDAO, Sets Sights on Multi Protocol Expansion

Chronicle, the Oracle Provider for MakerDAO, Sets Sights on Multi-Protocol Expansion

In the realm of blockchain oracles, Chronicle has carved a niche as the exclusive provider for MakerDAO. Safeguarding assets exceeding $5 billion within the MakerDAO ecosystem, Chronicle is now poised to expand its services across new protocols and diverse blockchain networks.

A Beacon of Reliability

Since its inception in 2017, Chronicle has played a pivotal role in the development of MakerDAO and the birth of DAI. Its commitment to maintaining data integrity and providing dependable oracles has made it a cornerstone of the decentralized finance (DeFi) landscape.

Embracing Multi-Protocol Integration

Chronicle’s latest ambition is to broaden its horizons by integrating with a new protocol. This strategic move will enable its services to span multiple blockchain networks, thereby enhancing accessibility and usability.

Polygon zkEVM: The Next Frontier

Among the exciting developments on the horizon is Chronicle’s anticipated launch on Polygon zkEVM. This move signifies a crucial step towards achieving interoperability and expanding its footprint in the blockchain ecosystem.

Scribe: A Game-Changer for Gas Fees

Chronicle’s innovation, Scribe, stands as a testament to its commitment to continuous improvement. Scribe is designed to significantly reduce oracle gas fees, a pain point that has plagued the blockchain industry. On layer 1 networks, Scribe slashes gas fees by an impressive 60%, while on layer 2 networks, the reduction is even more substantial, at over 68%.

Empowering DeFi with Reliable Data

In the world of decentralized finance, the role of blockchain oracles is paramount. These data providers act as the bridge between blockchain networks and real-world data sources, ensuring that DeFi platforms and applications have access to accurate and up-to-date information.

The Chronicle Advantage

Chronicle currently serves 6 oracles and 21 feeds on the Ethereum network. Its reputation for providing dependable market data has made it the oracle provider of choice for MakerDAO, a prominent player in the DeFi space.

The Future of Data Access

As Chronicle expands its services to new protocols and blockchain networks, it’s not just enhancing its own reach; it’s also contributing to the broader vision of a decentralized and interconnected financial landscape. Reliable data access is the lifeblood of DeFi, and Chronicle’s commitment to reducing gas fees and increasing accessibility paves the way for a future where blockchain technology empowers individuals and businesses alike.

In conclusion, Chronicle’s journey from being the exclusive oracle provider for MakerDAO to becoming a multi-protocol player highlights the growth and maturation of the blockchain oracle sector. With Scribe at the forefront, Chronicle is not just providing data; it’s shaping the future of data access in the decentralized world.

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