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Will Chaos Labs raise another funding round by mid-2025?
3
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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.
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