📝 Editor’s Note:
Welcome to OurNetwork’s latest.
Happy Halloween and welcome to OurNetwork’s latest. This week we’re covering oracles, whose data feeds quietly underpin all of crypto.
Indeed, according to DefiLlama’s data, oracles now secure well over $90B in value. Chainlink in particular, has had a strong year to date, going from just over 50% market share to over 60% market share in terms of total value secured.
Still others like Redstone and Chaos Labs have carved out niches in the oracle landscape.
Redstone, for example, is responsible for over 99% oracle market share on HyperEVM, the Ethereum Virtual Machine built into Hyperliquid, the finance-focused Layer 1.
And Chaos Labs’ oracles have been on a tear as well, having jumped 15x in two years in terms of total value secured, according to DefiLlama.
Shoutout to mar1na, Veronica, and Chaos Labs for coverage in this one.
Let’s get into it.
– ON Editorial Team
Chainlink | RedStone | Chaos Oracles
Chainlink enables offchain-to-onchain and interchain data transfers with decentralization-compatible oracles and interoperability technology. Foundational to moving crypto’s data, Chainlink has processed over $8B in transfers, 53% of this volume being in the past three months. Chainlink has 165 blockchain partners, and its Cross-Chain Interoperability Protocol (CCIP) is currently live on 67 chains, according to the Chainlink Ecosystem website. Per DefiLlama, Chainlink collects ~$10K in fees daily.
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