What is Redstone Oral and why is it important in a rapidly developing crypto ecosystem? Redstone is a modular Oracle network that provides critical data for a variety of EVM and non-EVM chains. As decentralized financing grows, reliable off-chain data is crucial to everything from loan agreements to complex derivatives.
The Redstone network focuses on scalability and flexibility, ensuring developers have the precise information they need (on any network) to enable cross-chain Defi. In this article, we delve into the basic characteristics of Redstone, which addressed the “Oracle Problem” and the contribution of the recently launched Red Token.
What is redstone?
Red Stone is a cutting-edge Oracle blockchain solution that makes decentralized applications easier and more efficient access to chain chain data. Redstone’s team focuses on “Modular Oracle,” Separate data acquisition from on-chain verification. This separation allows for faster updates, wider blockchain coverage, and more effective support for custom data feeds.
Redstone’s approach and reliability have been recognized, serving more than 130 customers on more than 70 blockchains. It also supports over 1250 assets including major tokens such as LST/LRTS, BTC Staking, Memecoins, etc.
Source: Redstones.Finance
Key Features
- Modular design: Collect data to the collection on the chain, increase speed and reduce congestion.
- Cross-chain compatibility: Integrate with EVM and non-EVM networks, covering platforms such as Berachain, Ton, Monad, etc.
- Custom data feed: Supports tailor-made solutions, from stable price to professional nft analyze.
- Security Infrastructure: Adopt rigorous verification, including collaboration with Eigenlayer to enhance data integrity.
- Scalable growth: Easily new chain stores on the board, ensuring that the agreement can be expanded without facing Oracle bottlenecks.
How does redstone work?
Data provider Collect chain information From different sources, e.g. Centralized communication, chain DEX and professional API. These data are summarized and fed Enter the distribution layer of redstoneand then signed and packaged for chain verification.
By storing only the minimum information on the minimum information chain, Redstone can reduce the overall and overhead of transactions. Dapps can obtain Redstone’s network when the transaction is executed to obtain current price or reference data. Developers can customize the frequency of driving new data, what types of assets are supported, and even how to validate data on each specific chain.
Another cornerstone is the use Advanced verification mechanism Like a service (AVS) that is actively validated through Eigenlayer. This approach provides strong economic security by having Stakers lock in tokens (including red) to ensure honest data reporting.
If the data provider provides inaccurate feeds, they may lose their storage funds. The result is a dynamic ecosystem that benefits from the right and frequent updates from strong incentives, directly supporting Cross-chain defi And more.
What problems did Redstone solve?
- Slow or rigid updates: Traditional Carapaces can be slow to add new assets or blockchains. Redstone’s modular framework can be rapidly scaled and deployed seamlessly on new networks.
- Single-chain dependency: Early teeth only design Ethereum Or consider Solana. Redstone’s multi-chain approach ensures that data flows to dozens of blockchains simultaneously.
- High incubation period and network congestion: By offloading data stores to their distribution layer, Redstone can reduce chain transaction load and speed up DAPP data retrieval.
- Limited custom feed: Redstone’s approach makes projects require specialized feeds, such as advanced LST or NFT floor price data.
- Safety and reliability: Fixing the red token on the feature layer adds extra security to the carapace, ensuring honest participation and preventing malicious data submissions.
Redstone Investment
Red Stone Received $15 million in Series A funding rounddemonstrates provable investor interest and confidence in modular Oracle solutions. This funding serves as the platform’s vision to become the most technologically advanced and economically sustainable Oracle provider.
With the A-series Warbox, Redstone can expand its developer support, security auditing and partnerships across a variety of blockchains. The round also highlights a broader awareness that Oracles are crucial to Defi’s growth and the need for scalable, decentralized solutions to help protect billions of chain values.
Benefits of using redstone
- Scalability: Provides rapid integration with new or existing chains to prevent performance bottlenecks.
- Cost-efficiency: Modular architecture reduces transaction overhead, thus reducing fees.
- flexibility: Supports a variety of data types, from classic token prices to on-chain reserve proofs.
- Enhanced security: Adhesive collateral to ensure reliability and reduce the chances of incorrect feed.
- Faster updates: Provide data with minimal latency, which is crucial to the high-speed Defi market.
- Multi-chain adoption: Developers can integrate once and take advantage of Redstone’s coverage across over 70 networks.
Red Token
Red provides new ways for data providers and community members to ensure network security by promoting a sustainable Oracle economy. By using red, participants can help maintain honest and timely data feeds and potentially earn rewards for popular assets, e.g. ETH and USDC.
$ RED TOKENOMICS
- Maximum supply: 1,000,000,000 red
- Initial floating point: 28%, locked 72%, and released within 4 years
- Community Growth: 48.3% of total tokens allocated to the ecosystem support, including data providers and protocol development
- Put in the model: Data providers and token holders lock in red to support Redstone’s cybersecurity. Stakers charge fees from users who rely on Redstone data.
- Multi-chain preparation: Although implemented in the form of ERC-20 on Ethereum, as Redstone’s coverage expands, red can bridge to other blockchains.
Source: Redstone Blog
Red Utility
Red is more than just an existing token. This is the economic engine that powers the Redstone mission Deeper decentralization and enhanced security On its modular Oracle Network. Fixing red in Redstone’s Eigenlayer Avs enables data providers and community participants to maintain the integrity of real-time price feeds, ensuring reliable data for hundreds of blockchain protocols. In return, Stakers receive rewards in widely used assets such as ETH, BTC and USDC.
The consistency of this incentive encourages continuity Improved data accuracywith any attempt to manipulate feed, can result in fines and token confiscation on Stakers who provide incorrect information. Redstone makes the verification process less concentrated, so there are not as many single point failures or exploits human attacks. This builds trust between decentralized financial projects and their institutional partners.
Red also has convenience Community Governance. Holders can propose and vote on protocol upgrades, new Oracle products or extended chain integrations. This inclusive approach enables Oracle networks to adapt and respond quickly to emerging trends in decentralized financing. At the same time, the token allocation strategy provides further strengthening of cooperation.
Redstone for Binance Launchpool details (red)
Plans for debut February 28, 2025Redstone (Red) will be the 64th project of Binance Launchpool. Agriculture begins on February 26, 2025 and opens the former market transactions of Red/USDT on February 28, 2025.
Binance established a price cap mechanism within the initial 72 hours to prevent extreme volatility.
- Transmission pool allocation: 4% of the total supply (40,000,000 red) reserved for participants.
- Supported pools: BNB (80% of reward), FDUSD (10%), USDC (10%).
- Price cap mechanism: Keep the price within the set range of the initial opening price in the first 72 hours of the second-hand market.
- No spot list yet: The full point listing date will be announced after the initial market phase.
Source: binance
The Future of Redstone and Oracle Landscapes
With more and more projection demands near-established data, Redstone’s modular design positioned it as a major force in Oracle Innovation. The mission of the network – providing any data on any chain is consistent with the cross-chain Defi movement that seeks frictionless liquidity between multiple networks.
With Eigenlayer’s advanced security, focusing on stable and fast data delivery, and the introduction of Red Sogenomics, Redstone is ready to support trillion-dollar markets across loans, derivatives, gaming, and beyond.
FAQ
Where can you buy a red token?
Initially, the red token will be available through Binance Launchpool starting February 28, 2025. Stay tuned for official updates from Redstone and Binance to confirm the final timetable.
When can we expect Redstone Oracles tokens to be launched?
Redstone Distributed Data Association announces the Red Token Generation Activity (TGE) date, and the mark will pass Binance pre-sale on February 28, 2025.
What are the different ways to integrate redstone?
Projects can integrate redstones by pushing or pulling feed references in smart contracts in methods. Developers can also leverage Redstone’s SDK, which simplifies retrieval of data from Redstone’s distribution layer and validate signatures on the chain.
How does blockchain Oracle work?
Oracles uses professional networks such as Redstone to bridge chain data into a chain environment, thereby collecting data from different sources. This data is then signed and delivered to the blockchain, where the smart contract can consume it.
