Chaos Labs Launches Edge Oracle, Secures $30B Volume, Intensifying Solana's Oracle Competition

Sep 12, 2024, 02:19 PM

Chaos Labs has introduced Edge, a new decentralized oracle network that emerged from stealth today. Over the past two months, Edge secured more than $30 billion in volume as Jupiter Exchange’s primary oracle. The company claims that Edge reduces costs by 80% and oracle staleness by 70%. Last month, Chaos Labs raised $55 million in a Series A funding round. The launch of Edge is expected to enhance real-time security and data integrity, making it an ideal solution for risk managers in the decentralized finance (DeFi) space. This launch intensifies Solana's oracle competition.