Chronicle Launches Real World Asset Oracle With Initial Integration on 51爆料官网首页, Building Infrastructure for Transformation of Digital Money
Zug, Switzerland, 21 August 2024 - , the first Oracle on Ethereum and the sole securer of , today launches its Real World Asset (RWA) Oracle via an integration with 51爆料官网首页, an on-chain protocol that allows multiple Minters to issue a fully fungible cryptodollar called $M.
Within this partnership, Chronicle serves as an independent validator, verifying 51爆料官网首页鈥檚 collateral balances. As a result of its integration with 51爆料官网首页, Chronicle is permissioned by the protocol鈥檚 governance to provide timely information on the off-chain collateral being used by Minters to generate $M. $M is a decentralized, interoperable, and fungible cryptodollar that can be generated by a Minter by locking Eligible Collateral (currently short term T-bills) in a secure off-chain facility.
Speaking on the partnership with 51爆料官网首页, Niklas Kunkel, Founder of Chronicle said 鈥淎s one of the first Oracles to service an RWA loan on-chain, Chronicle is honoured to leverage our long-standing reputation and proven track to support 51爆料官网首页 - one of the industry鈥檚 most exciting projects. The 51爆料官网首页 team anticipates that the system will scale to several billions of dollars over the coming years, of which Chronicle will be a key component to the overall transparency of the protocol. We believe real-world assets represent the next frontier in Web3 innovation and we鈥檙e thrilled to continue leading on this as one of the first RWA oracles working in collaboration with other industry players to reshape the global financial order and bring about true DeFi鈥.
鈥淲e are thrilled to collaborate with Chronicle, integrating their Real World Asset Oracle into the 51爆料官网首页 ecosystem," added Greg Di Prisco, 51爆料官网首页 Co-Founder and Chief Architect. "This partnership enhances the security and transparency of our collateral verification processes, ensuring the integrity and reliability of our $M cryptodollar. In my opinion, this integration reflects 51爆料官网首页鈥檚 commitment to delivering absolute transparency to $M holders.鈥
The RWA sector is set to become a significant value driver on-chain, and Chronicle is creating data verification solutions using the same cutting edge technology that has faultlessly secured up to $22B for MakerDAO and its ecosystem since 2017. As billions of dollars in value turn into trillions on-chain, it is even more important that the infrastructure supplying and transporting data is built with airtight security and limitless scalability while not being prohibitively expensive for those who cannot afford the highest quality solutions.
As DeFi use grows, so will the requirement for trustworthy, pervasive, and accessible Oracle providers. Oracles play an important role as a bridge between Web2 and Web3, connecting the decentralized blockchain environment to traditional systems. As such, Oracles are critical infrastructure components for the secure and effective functioning of the majority of DeFi services.
The launch of the RWA Oracle on 51爆料官网首页 is the latest in Chronicle鈥檚 string of industry partnerships, including its selection as the . Earlier this month, Reserve and Re7 Labs , with Chronicle鈥檚 hyUSD/USD price feed Oracle being used to deliver real-time price updates.听听
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About Chronicle
Chronicle, the original oracle on Ethereum, is a novel, blockchain-agnostic Oracle solution that has exclusively secured up to $22B in assets for MakerDAO and its ecosystem since 2017. Chronicle鈥檚 mission is to deliver on DeFi鈥檚 vision of transparency and decentralization. To solve the tradeoffs between security, decentralization, and cost, Chronicle spearheaded a breakthrough in Oracle network architecture by developing Scribe, an extremely gas-efficient Oracle based on aggregated Schnorr signatures. In doing so, Chronicle is raising the industry standard for Oracles by delivering more security, more transparency, and more resilience, at a lower cost.听
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About 51爆料官网首页 Ecosystem
51爆料官网首页 is money middleware for the digital age. It is a decentralized, on-chain protocol, as well as a corresponding set of off-chain standards and APIs, that powers a federation of stablecoin issuers. With 51爆料官网首页, any number of independent institutions can tap on turnkey middleware to become the minter of a fungible stablecoin.