Original | Odaily Planet Daily ( @OdailyChina )
Author | Dingdang ( @XiaMiPP )
On March 25, the oracle service platform Chronicle announced the completion of a $12 million seed round of financing, led by Strobe (formerly Blocktower Venture Capital), with participation from Brevan Howard, 6th Man Ventures and other institutions. On the surface, this seems to be just an ordinary financing news, but after a deeper understanding, you will find that the story of Chronicle is much more exciting than it seems.
Chronicle is not a new oracle player, but an industry veteran who has been deeply involved in on-chain data verification and RWA. It started in the MakerDAO ecosystem, experienced the dual test of technology and market, and has now developed into an independent decentralized oracle network, providing highly transparent data support for DeFi, RWA and TradFi institutions. This financing also means that Chronicle has officially stepped onto a bigger stage.
Basic Information
As an important data provider in the Web3 ecosystem, Chronicle has built a complete set of decentralized data infrastructure based on years of technological accumulation. Its core technologies include:
Chronicle Dashboard : Provides end-to-end data verifiability, ensuring that users can trace the source of data and improve transparency. Its verification network consists of 22 decentralized nodes, including well-known industry players such as Infura and Etherscan. This distributed architecture avoids single points of failure and enhances data reliability through multi-party verification.
Scribe : By introducing Schnorr signature aggregation technology, the efficiency and cost of data updates are optimized. It solves the problems of long signature verification time and high gas fees in traditional oracle systems, enabling Chronicle to provide high-quality data services at a lower operating cost.
Verified Asset : is a oracle solution designed by Chronicle for the RWA (real world asset) track, focusing on safely and efficiently introducing the price and status data of off-chain assets (such as US Treasury bonds, real estate data, etc.) to the chain. It is not only a technical tool, but also a key link in the integration of DeFi and TradFi (traditional finance).
These technologies are not only widely used in the Sky ecosystem, but also provide data support for Web3 projects such as M^0 (focused on currency protocols), Centrifuge (asset tokenization platform), Superstate (on-chain investment tool), and Securitize (security tokenization), further demonstrating Chronicles competitiveness in the field of cross-ecological data services.
Chronicles team is also experienced. Niklas Kunkel, the founder, developed an early oracle solution in the MakerDAO ecosystem as early as 2017, and led key projects such as OasisDEX and DSProxy. Jen Senhaji, head of growth, was also responsible for MakerDAOs market development, giving Chronicle the dual advantages of technology and market.
The $12 million raised in this round of financing will be mainly used for product development and technological innovation. Chronicle plans to launch new products in the next 12 to 18 months to promote the development of DeFi and RWA.
From a single ecosystem to diversified cooperation
The relationship between Chronicle and Sky Protocol is not only a microcosm of the modular evolution of the MakerDAO ecosystem, but also demonstrates the trend of independence of Web3 oracles.
Initially, Chronicle was only an oracle component within the MakerDAO system, responsible for providing price data support for SAI (the predecessor of DAI). At that time, Chronicles role was relatively single, mainly serving the stablecoin operation within MakerDAO, and failed to form independent market competitiveness. However, with the rapid development of the DeFi ecosystem, the oracle solution of a single ecosystem can no longer meet the needs of the industry.
In the process of MakerDAO moving towards modularization, Chronicle has gradually been given greater independence , especially after it officially transformed into Chronicle Labs in 2023. It is no longer limited to the Maker ecosystem, but began to provide data services to the entire DeFi and RWA track.
This transformation does not mean that Chronicle and Sky will part ways. On the contrary, their cooperation model can become more diversified. This diversification is not only reflected in the depth of technical support, but also in the breadth of cooperation forms. For example, as independent communities, the two can share resources and collaborate on the ecosystem . Chronicles decentralized node network can provide Skys users with a more transparent data verification experience, and Skys stablecoin traffic can also feed back to Chronicle and enhance its influence in the DeFi community. This diversified model of you have me, I have you has evolved the relationship between Chronicle and Sky from a single dependence to a more flexible and creative partnership.
Chronicle The meaning of independence
The independence of Chronicle is closely related to the Endgame plan proposed by Rune Christensen in 2022. The plan promotes the evolution of the MakerDAO ecosystem through modular architecture , decentralized governance , and RWA integration , and the independence of Chronicle is a key step in this strategy.
By stripping away the oracle function, Sky focuses on stablecoins and governance optimization to avoid duplicate resource allocation. Chronicle can independently expand the market, open up external sources of income, and reduce the maintenance burden of the Sky ecosystem, making the division of labor between the two clearer.
Independence also brings changes in governance and market strategies . Chronicle is no longer limited to the governance framework of MakerDAO or Sky, but can independently formulate its own development route, such as connecting with more L2 networks (such as Arbitrum, Optimism), or exploring in-depth cooperation with TradFi institutions. In the future, it may further expand in the fields of decentralized data markets, on-chain identity authentication, and even AI combined with blockchain data, becoming a core pillar of Web3 data infrastructure.
In addition, the independent Chronicle is more likely to attract external capital . In this round of financing, 71% of the funds came from US investment institutions. The participation of these institutions not only brings financial support, but also provides important endorsements for Chronicles future market expansion, regulatory compliance, and institutional cooperation. In particular, the joining of Brevan Howard means that Chronicle has the opportunity to open up more cooperation channels with traditional financial institutions, further promote the on-chain of RWA assets, and provide more transparent and compliant on-chain data support for the integration of DeFi and TradFi. It is worth mentioning that although the funds did not flow directly into Sky, they may also indirectly benefit the Sky ecosystem.
Of course, Chronicle being an independent entity also means that its development direction is more determined by the market rather than being directly influenced by Rune or Sky. It may further expand its service scope to more blockchain ecosystems, rather than relying solely on Sky. For Sky, this means more cooperation opportunities, but also the need to adapt to Chronicles broader market positioning.
How do ordinary users participate in the Chronicle ecosystem?
Ordinary users can obtain Chronicle-related points through the Sky ecosystem, which may be part of the future Chronicle incentive mechanism. Specific ways to participate include:
1. Through Sky.money
Visit sky.money and participate in staking or liquidity provision using USDS.
Chronicle points may be related to these operations, and the specific rules are yet to be disclosed by the official.
2. Through Spark.fi
Deposit USDS or participate in lending on Spark Protocol .
The community speculates that Chronicle points may be linked to TVL contributions, and the level of participation may affect future rewards.
3. Follow official updates
Follow the Chronicle official X account ( @ChronicleLabs ) and Discord for the latest information.
Stay up to date on updates to the points system and incentive programs.
