The highly anticipated launch of Euler v2 is here, and we’re proud to announce that Scribe, Chronicle’s novel oracle, has been selected to secure several markets on Euler, including ETH, MKR, and stETH, on mainnet, and can now be integrated to secure the creation of vaults for RWA, or crypto-native assets.
By utilizing the innate benefits of Scribe’s cost efficiency, Chronicle will play a core role in the growth of Euler, enabling the scalability of access to new markets, new pairs, new vaults, and, ultimately, new assets; most importantly, without compromising on the decentralization and security of the oracle network.
Unlike other oracle protocols, Scribe can deliver cost-efficient oracle updates while increasing the number of validator nodes that are included to source and input raw data, and attest [sign] to its integrity, ensuring the highest degree of decentralization, byzantine fault tolerance [security], and resilience against oracle failure.
This has been achieved through the novel implementation of Schnorr signatures, which you can read more about here.
Euler’s users and builders will also be able to leverage The Chronicle, our unique oracle dashboard that provides full transparency on the supply chain of our oracle network's data. This means full transparency on where the oracle data was sourced, how the final value was calculated, and which of the validators attested to its integrity.
No other oracle network will provide this much transparency on the data it serves to you. We’re on a mission to make access to this data the status quo. Accessibility, transparency, and decentralization, this is what DeFi is supposed to be about.
Euler v2’s modular lending platform is also designed with these core values in mind. It is powered by innovative features such as the Ethereum Vault Connector, which creates an interoperability layer for connecting vaults within the Euler ecosystem, permissionless and customizable vaults, and permissionless rewards.
Learn more about Euler v2’s innovative features here.
Together, Euler and Chronicle are raising the industry standard for both DeFi and oracles alike. We’re excited to secure Euler from the outset and support the growth of modular DeFi.
