TLDR:
- PayPal Ventures makes additional investment in Chaos Labs, an onchain risk management industry leader.
- Chaos Labs recently launched Edge, a new decentralized oracle protocol, receiving $30B in funding in 2 months.
PayPal Ventures has announced an additional investment in Chaos Labs, a prominent player in the onchain risk management industry. This investment signifies PayPal Ventures’ confidence in Chaos Labs and their blockchain products. Chaos Labs recently introduced Edge, a decentralized oracle protocol that has already secured an impressive $30 billion in funding over the past two months. This innovative protocol has been adopted by major exchanges like Jupiter and GMX, offering a low-latency oracle solution that combines accurate price data with actionable market intelligence.
Omer Goldberg, the CEO and Founder of Chaos Labs, expressed excitement about the continued support from PayPal Ventures, emphasizing that Edge by Chaos is the culmination of the company’s expertise. The protocol provides comprehensive risk and price data for various assets, including stablecoins and crypto assets, enhancing the security and efficiency of DeFi applications. The recent $55 million Series A funding round led by Haun Ventures has propelled Chaos Labs’ growth, attracting new investors and tripling their customer base.
PayPal Ventures’ investment aligns with PayPal’s commitment to the blockchain ecosystem, highlighted by the launch of their stablecoin, PYUSD, on the Solana blockchain. Amman Bhasin, Partner at PayPal Ventures, praised Chaos Labs’ vision of creating a safer crypto ecosystem and moving financial services on chain. The total investment in PYUSD will be given to Chaos Labs on-chain, with a live simulation showcased at the Solana Breakpoint conference in Singapore.
Overall, Chaos Labs continues to lead the blockchain risk management industry, setting new standards for security and responsiveness in onchain finance. PayPal Ventures’ additional investment underscores their belief in Chaos Labs’ potential to innovate and enhance the crypto ecosystem.
