Chronicle Secures $12 Million in Seed Funding Led by Strobe
Chronicle has raised $12 million in seed funding, led by Strobe with participation from Brevan Howard and 6th Man Ventures.
Chronicle is the first oracle on Ethereum, founded by Niklas Kunkel and others from MakerDAO. The platform provides data infrastructure for tokenized assets and has an RWA oracle called verified asset.
- Chronicle targets both DeFi protocols and traditional finance, aiming to merge their client bases.
- Kunkel noted that DeFi revenue fluctuates significantly, making it challenging to sustain operations.
- He sees a trend of projects adopting traditional finance-like fixed income products to stabilize revenue.
- The company plans to focus on helping institutions enter the RWA space over the next 12 to 18 months.
- Kunkel anticipates a surge of new products in the coming quarters.
- The funding will be used for product development and research.
- Chronicle aims to build essential infrastructure to safely integrate traditional finance into the blockchain ecosystem.