Chronicle, the second-largest oracle provider that safeguards over $5 billion for MakerDAO and its ecosystem, announced Tuesday the launch of its new Chronicle Protocol. The protocol will make oracles available on various networks, beginning with Polygon zkEVM, and is estimated to use 60% less gas fees than other providers.
Verifiable Oracles at scale are a critical innovation to ensure the integrity of DeFi, said Chronicle founder Niklas Kunkel. Kunkel co-developed the first oracle on Ethereum in 2017 to facilitate the creation of SAI, the predecessor to U.S.-dollar-pegged DAI stablecoins. Our commitment to delivering secure, cost-efficient, and verifiable Oracles has driven the development of this market-leading release, uniquely positioning Chronicle and providing a much-needed challenger in a space dominated by a single provider, Kunkel added.
The service will feature a dashboard that users can access to track the origin of any required data, ensuring on-chain data transparency. It will run on data supplied by over 22 node operators, such as Infura, Etherscan, Gnosis, Gitcoin, Argent, MakerDAO, and dYdX.