Created at 7am, Mar 21
ilkeCrypto
0
Epicenter - Niklas Kunkel: Chronicle – Ethereum's First-Ever Oracle
Contract ID
u1hgJ01kdlVjEL0wuTkx-Wyw17P8c5mbtmF5s5n8jd8
File Type
MP3
Entry Count
326
Embed. Model
jina_embeddings_v2_base_en
Index Type
hnsw

Back in 2017, there was no DeFi as we know it today, yet MakerDAO were already envisioning and building towards what they thought to be a certainty. The backbone of DeFi is represented by stable coins, and MakerDAO quickly understood this: they set out to build a decentralised stable coin, $DAI (and its precursor $SAI). Being collateral-backed, the smart contract needs to know the value of that collateral, but any off-chain price data is not readily available on-chain. This is where oracles come in and provide data feeds on-chain. MakerDAO’s internal oracle has been active since 2017 on Ethereum and has recently branched out, forming Chronicle. By using aggregated Schnorr signatures, Chronicle solves the problem of oracle cost-efficient scaling.Epicenter, July 2023

You look at kind of the current environment, right, where the VC funding market has been rather tight and you're seeing teams and protocols needing to tighten up the belts, right?
You're seeing them do things like layoffs, right, to extend their runway.
start: 42:16 - end: 42:20
And they really are looking for a way to like reduce costs, right?
start: 42:20 - end: 42:23
And one of those areas that they look at is Oracles, right?
start: 42:23 - end: 42:28
How to Retrieve?
# Search

curl -X POST "https://search.dria.co/hnsw/search" \
-H "x-api-key: <YOUR_API_KEY>" \
-H "Content-Type: application/json" \
-d '{"rerank": true, "top_n": 10, "contract_id": "u1hgJ01kdlVjEL0wuTkx-Wyw17P8c5mbtmF5s5n8jd8", "query": "What is alexanDRIA library?"}'
        
# Query

curl -X POST "https://search.dria.co/hnsw/query" \
-H "x-api-key: <YOUR_API_KEY>" \
-H "Content-Type: application/json" \
-d '{"vector": [0.123, 0.5236], "top_n": 10, "contract_id": "u1hgJ01kdlVjEL0wuTkx-Wyw17P8c5mbtmF5s5n8jd8", "level": 2}'