What is RedStone (RED)?
RedStone is a blockchain oracle provider designed to deliver gas-efficient, tamper-proof, and cross-chain data feeds to support DeFi protocols across various blockchain networks. Its modular architecture enables rapid integration with different chains and use cases, making it adaptable to evolving blockchain technologies. By optimizing data delivery, RedStone aims to enhance efficiency while maintaining security and reliability for DeFi applications.
RED serves as the native utility token within the RedStone ecosystem, playing a central role in staking and payments. Data providers operating within the oracle network must stake RED tokens to ensure the integrity and accuracy of the data they provide. Additionally, any holder can stake RED tokens in RedStone AVS on EigenLayer, contributing to the network’s security. At launch, RED will also be supported by partner AVS as a Liquid Restaked Token, further expanding its utility.
As a payment mechanism, users of RedStone oracle feeds compensate stakers for data consumption using major cryptocurrencies such as ETH, BTC, SOL, and USDC. These transaction fees are directed toward staked RED, reinforcing the ecosystem’s sustainability.
RedStone’s oracle infrastructure is built on a modular framework designed for flexibility and efficiency. The data-sourcing module accommodates various pricing methodologies, including proof-of-reserve feeds, liquid staking tokens (LSTs), liquid restaking tokens (LRTs), staked BTC, and on-chain liquidity-based feeds. The data-distribution module facilitates parallel oracle gateways, leveraging both decentralized, publicly operated gateways and high-performance, low-latency gateways to optimize data flow. The data-relaying module supports multiple oracle consumption models, such as push models favored by lending protocols and pull models commonly used in perpetual trading platforms. It also allows for future enhancements, including ultra-low latency price feeds tailored for emerging blockchain networks. Lastly, the data-consumption module enables seamless deployment on any compatible chain, allowing RedStone to support diverse use cases while maintaining minimal scaling costs.
At the time of writing, the total and maximum supply of RED stands at 1,000,000,000 tokens, with an initial circulating supply of 280,000,000 upon listing.
RED is listed on Binance for trade and purchase. The current price of RED is available and updated in real time on Binance.