New Decentralized Oracle Protocol Edge by Chaos Labs Emerges with $30 Billion Volume on Jupiter Perps Exchange
New York, New York, September 12th, 2024, Chainwire - Chaos Labs, the industry leader in onchain risk management, has announced the launch of Edge, a decentralized oracle protocol powering Jupiter, the leading perpetuals exchange on Solana. Edge has already secured $30 billion in trading volume on Jupiter, establishing itself as a leader in the low-latency oracle category.
The fragmentation of liquidity and price discovery across networks has made asset pricing increasingly complex. As protocols move towards trading higher leverage instruments and listing more illiquid assets, integrating a price oracle solution resilient to outliers and anomalies at fine granularity is essential.
Chaos Labs has built the Edge Oracle Network to meet the demand for an upgraded oracle solution. Edge offers a comprehensive, low-latency oracle solution that combines accurate price data with actionable market intelligence. By monitoring specific risk signals, performing offchain data parsing and computation, and outputting actionable data points, Edge aims to provide more precise and timely insights compared to traditional oracles.
The Edge protocol consists of three components: Price, Risk, and Proofs. These components deliver high-precision price data with an integrated risk engine, automate real-time parameter adjustments based on market conditions, and enable secure on-chain delivery of custom data points.
Since migrating to Edge as its primary oracle, Jupiter has observed a 70% reduction in price staleness events and an 80% decrease in update fees. Edge Price Feeds power core functions of the Jupiter platform and have been instrumental in handling market volatility and liquidations effectively.
Overall, the launch of Edge by Chaos Labs marks a significant advancement in decentralized finance and risk management. With its ability to provide accurate price feeds even during extreme market conditions, Edge offers a reliable solution for onchain applications. By leveraging Edge's capabilities, protocols can enhance their risk analysis, improve trading performance, and ensure stability in the rapidly evolving financial landscape.
For more information, visit the original article published on Chainwire. Title: The Ultimate Guide to Maximizing Your Investment Returns in Today's Financial Markets
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