Three new markets, deriving from the Steakhouse USDM vault and utilizing
Chronicle Scribe, are now live on Morpho on Base. USDM can be loaned against
wstETH,
cbETH, and
WETH.
Chronicle is proud to be the
official Oracle partner for Mountain Protocol and USDM. Launching in late 2023, USDM is among the fastest-growing new stablecoins in 2024. Regulated and transparent, Mountain Protocol is leading the way in utilizing RWA (real-world assets) within a compliant framework to generate yield for USDM users on-chain.
Inimitable Transparency and Decentralization
Morpho is renowned for its approach to raising the standard of DeFi lending markets, offering greater transparency, decentralization, and flexibility. This is a key part of the founding dream of DeFi, however, Oracle networks have limited DeFi’s progress towards this goal.
With the introduction of Scribe by Chronicle, DeFi can finally rely on transparent and verifiable price feed oracles, powered by a decentralized validator network of some of the industry’s most reputable actors, such as Gnosis, Gitcoin, MakerDAO, and Etherscan. This is how Chronicle is raising the industry standard for oracles and onchain data.
All the oracle price feeds securing these new markets on Morpho can be viewed in realtime, or historically, via
The Chronicle. Including complete details on where the original data was sourced, and how the final reported value was calculated and determined.
Users can also verify the integrity of the dashboard reported data, matching the signature of the validator with the digital signature used to attest to the truth of the reported data onchain. There remains no greater replacement for trust than transparency coupled with autonomous verifiability.
Trustless, transparent finance, after all, isn’t that what we’re here to build?
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About Chronicle Protocol
Chronicle, the original oracle on Ethereum, is a novel, blockchain-agnostic Oracle solution that has exclusively secured up to $22B in assets for MakerDAO and its ecosystem since 2017. Chronicle’s mission is to deliver on DeFi’s vision of transparency and decentralization. To solve the tradeoffs between security, decentralization, and cost, Chronicle spearheaded a breakthrough in Oracle network architecture by developing Scribe, an extremely gas-efficient Oracle based on aggregated Schnorr signatures. In doing so, Chronicle is raising the industry standard for Oracles by delivering more security, more transparency, and more resilience, at a lower cost.
