Chronicle Protocol Secures $12M: Oracle Updates Surge 67% as Network Expands and Fees Plummet
April 29, 2025
The Total Value Secured (TVS) by Chronicle Protocol rose to $12.6 billion in Q1 2025, reflecting a 10.5% increase from $11.4 billion in the previous quarter.
On January 28, 2025, Chronicle reduced the challenge period for its ScribeOptimistic oracle from 20 minutes to 10 minutes, facilitating faster data updates while ensuring security.
Since mid-August 2024, Chronicle has supported 14 signers per oracle update, enhancing security against manipulation, a practice that continued through Q1 2025.
The number of validators in Chronicle's decentralized oracle network grew to 25, enhancing the overall security and resilience of the protocol.
Unique price updaters on the platform increased to 11,700, indicating a 24.8% rise in network activity and validator participation compared to Q4 2024.
Chronicle expanded its oracle network by deploying 51 new oracles during the quarter, bringing the total to 162, which represents a 45.9% increase from the last quarter.
The average fee for oracle updates on Ethereum dropped to $1.53 in Q1 2025, a 64.2% decrease quarter-over-quarter, largely attributed to a significant decline in ETH's price.
Chronicle expanded its ecosystem by onboarding five new applications, resulting in a total of 68 integrated applications, a 15.3% increase from the previous quarter.
To engage users and support growth, Chronicle introduced Chronicle Points to reward community participants, along with a conversion plan for future CLE tokens.
Chronicle Protocol successfully raised $12 million in a Seed round on March 25, 2025, led by Strobe Ventures, to bolster its role as a core data infrastructure provider for tokenized assets.
In the first quarter of 2025, Chronicle recorded 373,300 oracle price updates, marking a remarkable 67.7% increase quarter-over-quarter, with a significant portion, 362,600 updates, occurring on Ethereum Layer-2s.
Operating costs for oracle updates also saw a substantial reduction, with gas fees decreasing by 64.2% on Ethereum and 8.9% on Layer-2s compared to the previous quarter.
Summary based on 1 source
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Messari • Apr 29, 2025
State of Chronicle Q1 2025