Redstone Finance: Revolutionizing DeFi with Customizable Data Streams
Redstone's Impact on the DeFi Ecosystem
Redstone Finance is a next-generation oracle suite that delivers frequently updated, reliable, and diverse data feeds for decentralized applications (dApps) and smart contracts on multiple Layer 1 (L1) and Layer 2 (L2) blockchains (7, 1, 3). It aims to address the challenges encountered by blockchain projects by providing adaptable, cost-efficient, and high-frequency data streams (1, 7).
Technology
Redstone's unique modular design allows it to deliver data at high frequency with the inherited security of the destination chain. It supports cross-chain operations, including Zero Knowledge (ZK) and Optimistic L2s, and roll-ups as a service (1).
Redstone's architecture allows for the lowest gas costs and a few seconds of latency. It enables dApp users to deliver signed data packages on demand to the destination chain. It is also compatible with traditional oracles, giving dApps full control over data source and update conditions (1).
Redstone's design is front-running proof, making it suitable for sophisticated protocols like Perps & Options, based on GMX design (1). It also supports both new and established dApps launching on trending L1s & L2s (1).
Redstone's proprietary fetchers technology allows it to securely discover prices from both on-chain DEXes and off-chain CEXes, making it a perfect solution for LST, Long-tail, LP and Ecosystem-native tokens, as well as Real World Data and custom feeds (10). Redstone's role in the DeFi ecosystem extends beyond providing data feeds. It has also been involved in research, releasing comprehensive reports on Ethereum-focused LSTfi protocols10
Use Cases
Redstone has been instrumental in various DeFi market categories. For instance, it has been used to establish a secure and decentralized oracle feed for swETH, a part of Swell’s push to drive utility, composability, and accessibility (2).
Redstone has also played a pivotal role in supporting Stader’s multi-chain liquid staking protocol, ETHx, and contributed to StakeWise V3’s vision of next-gen staking setups with its osETH token (3).
Redstone was a launch partner for DeltaPrime on Avalanche and delivered data feeds not available elsewhere, making DeltaPrime one of the top 3 fastest-growing dApps (7).
Advantages of Redstone
Redstone's modular architecture allows it to swiftly support both new and established dApps launching on trending L1s & L2s. It combines the best security practices and the ability to deliver non-standard data, like LP & staked tokens, making it stand out from other oracle solutions (1).
Redstone's design ensures permissionlessness, scalability, and customizability. It allows end users to self-deliver signed Oracle data on-chain and uses the decentralized Streamr network to deliver signed oracle data to the end users (7).
Final Thoughts
Redstone Finance is revolutionizing the DeFi space with its customizable data streams and innovative oracle suite. Its unique modular design, high-frequency data delivery, and compatibility with multiple blockchains make it a versatile and powerful tool for dApps and smart contracts. With its significant contributions to various DeFi projects and its potential for future growth, Redstone is poised to continue playing a pivotal role in the evolution of the DeFi ecosystem.
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