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 that powers Jupiter, the premier perpetuals exchange on Solana. In just two months, Edge has already secured an impressive $30 billion in trading volume on Jupiter, positioning Chaos as a leader in the low-latency oracle space.
The complexity of asset pricing and liquidity fragmentation across networks has created challenges for leveraged markets. Pricing inaccuracies can lead to exploit vectors, especially as protocols list more illiquid assets and trade higher leverage instruments. To address this issue, Chaos Labs developed Edge, a price oracle solution designed to withstand outliers and anomalies with precision.
Traditionally, decentralized applications have relied on “messenger oracles,” which outsource data quality responsibility to third-party entities. However, this approach lacks transparency and accountability in data sourcing and validation. In response to market demand for an upgraded oracle solution, Chaos Labs created the Edge Oracle Network for any onchain application with a market.
The Edge protocol integrates risk data with price data, emphasizing the interconnected nature of these elements. By combining accurate price data with actionable market intelligence, Edge delivers a comprehensive, low-latency oracle solution that enhances the security and efficiency of DeFi applications.
Edge’s advanced architecture monitors the market for risk signals, performs offchain data parsing and computation, and outputs actionable data points. By factoring in liquidity and volatility, Edge algorithms adjust prices to prevent distortions during sudden market movements, ensuring accurate and reliable price feeds in real-time.
Edge comprises three key components:
- Price: Delivers high-precision price data with an integrated risk engine
- Risk: Automates real-time parameter adjustments based on current market conditions
- Proofs: Enables secure on-chain delivery of custom data points
Omer Goldberg, CEO and Founder of Chaos Labs, emphasizes the importance of understanding pricing mechanisms for effective risk management. The adoption of Edge’s prices has significantly improved user experience on Jupiter Exchange, reducing latency and enhancing reliability.
Jupiter Exchange’s transition to Edge as its primary oracle has resulted in a 70% reduction in price staleness events and an 80% decrease in update fees. Edge Price Feeds power essential functions on the platform, facilitating trade execution, margin calculations, and risk management.
Chaos Labs envisions Edge as a solution that can meet the demands of modern decentralized applications beyond the realm of decentralized finance. The protocol’s ability to incorporate offchain data for a variety of use cases makes it a versatile tool for onchain applications.
Following a successful Series A funding round, Chaos Labs will continue to enhance Edge and unveil new features in the upcoming weeks. Stay tuned for more updates on this groundbreaking oracle solution.
About Chaos Labs: Chaos Labs leads the blockchain risk management industry with innovative solutions for onchain finance. By merging offchain observability with onchain risk adjustments, Chaos Labs sets new standards for security and responsiveness in the DeFi space.
About Jupiter: Jupiter is the premier trading destination on Solana, offering a powerful trading suite across Jupiter Spot & Perps. Jupiter Perps is currently the #1 Oracle-based Perps Exchange and ranks #3 among all PerpDEXes.
Contact: VP Business Operations Netta Goldberg Chaos Labs netta@chaoslabs.xyz
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