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March 25, 2025 – Chronicle Labs, a leading blockchain oracle provider, has announced the successful closure of a $12 million seed funding round. This investment, led by Strobe Ventures (formerly BlockTower Capital), will fuel the expansion of Chronicle's cutting-edge data infrastructure, designed to empower decentralized finance (DeFi) applications and the burgeoning tokenized asset market.
The funding round saw participation from a diverse group of prominent investors, including Galaxy Vision Hill, Brevan Howard Digital, Tioga Capital, and Fenbushi Capital. Adding further weight to the investment are notable angel investors from the crypto space, such as Rune Christensen (founder of Sky/MakerDAO), Andre Cronje (founder of Sonic and Yearn), Stani Kulechov (founder of Aave), Mark Phillips (co-founder of Steakhouse), and Sam MacPherson (co-founder of Phoenix Labs).
Chronicle Labs is tackling a critical challenge in the DeFi landscape: providing cost-efficient, verifiable, and decentralized data solutions. As traditional finance increasingly embraces blockchain technology and the tokenization of real-world assets (RWAs), the need for reliable and secure data oracles becomes paramount. Chronicle's innovative approach, powered by its Scribe technology, significantly reduces gas fees – by over 60% on Layer 1 and over 68% on Layer 2 networks – making it a game-changer for DeFi applications.
Bridging the Gap Between DeFi and Traditional Finance
Chronicle's infrastructure is purpose-built to support the growing demand for RWA tokenization, projected to become a multi-trillion dollar market by 2030. The company's "Verified Asset Oracle" ensures the authenticity and integrity of off-chain assets brought onto the blockchain, providing critical trust and transparency for institutional investors and DeFi protocols alike. Chronicle has already processed over $20 billion in total value secured (TVS) and is rapidly scaling its infrastructure to meet the increasing demand.
Key Features and Benefits of Chronicle Labs' Oracle Solution:
- Cost-Efficiency: Scribe technology dramatically reduces gas fees, making on-chain data access more affordable.
- Verifiability and Decentralization: Chronicle's oracle network provides verifiable and decentralized data, ensuring trust and transparency.
- Blockchain Agnostic: The solution is deployable across various public and enterprise blockchains, maximizing interoperability.
- Community-Powered Consensus: A network of 22 validators, including established entities like Infura, Etherscan, and MakerDAO (now Sky), ensures the reliability and security of the oracle network.
- Support for Tokenized Assets: Chronicle's "Verified Asset Oracle" provides crucial infrastructure for the rapidly growing tokenized asset market.
- Real-time Data Verification: Offers real-time data feeds for accurate and timely information.
- Enhanced Security and Auditability: Provides robust security measures and audit trails for institutional-grade compliance.
Strategic Focus on Research and Development
Chronicle Labs is committed to ongoing research and development, recognizing the importance of innovation in the rapidly evolving blockchain space. Niklas Kunkel, Chronicle's founder and a former member of the MakerDAO founding team, emphasized the importance of investing in research to drive long-term success. This commitment to research, coupled with a strong focus on product development, positions Chronicle Labs as a leader in the DeFi data infrastructure space.
About Chronicle Labs:
Chronicle Labs is a blockchain oracle provider focused on delivering cost-efficient, verifiable, and decentralized data solutions for DeFi applications and tokenized assets. The company's innovative technology and community-driven approach are transforming how DeFi interacts with real-world data.
About Strobe Ventures and Other Investors:
Strobe Ventures, formerly BlockTower Capital, is a leading venture capital firm focused on blockchain and cryptocurrency investments. Their investment in Chronicle Labs, along with the participation of other prominent investors, validates the company's vision and potential. The diverse group of investors includes both traditional finance and crypto-native firms, reflecting the growing convergence of these two worlds.
Chronicle Labs' successful funding round underscores the growing importance of robust and scalable data infrastructure for the future of DeFi and tokenized assets. The company is well-positioned to capitalize on the increasing demand for secure and reliable oracle solutions, bridging the gap between traditional finance and the decentralized world.
Compiled by CMO Intern team
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