The exclusive oracle provider for MakerDAO, Chronicle is expanding its services further to new protocols. It currently safeguards over $5 billion of assets within the MakerDAO ecosystem.
The oracle provider is looking to integrate to a new protocol which makes its services available on various blockchain networks. Launched in 2017, Chronicle facilitated the creation of DAI and the growth of MakerDAO. It is now looking to expand further following an anticipated launch on Polygon zkEVM soon.
Chronicle claims that its novel development Scribe reduces oracle gas fees by 60% on layer 1 networks while over 68% on layer 2 networks. It currently serves 6 oracles and 21 feeds on Ethereum.
Blockchain oracles are data provider units that fetch market data from multiple sources and enable with latest and reliable information.