- Dec 13, 2023
- 120
- 1
With the rapid development of blockchain technology, on-chain applications of DeFi (decentralized finance), Layer2 ecosystem, Rollups scaling solution, and real-world assets (RWA) have gradually become mainstream in the market. As an indispensable part of the Web3 ecosystem, oracles (Oracle) play a key role in the interaction of on-chain and off-chain data. However, traditional oracles generally have problems such as high cost, lagging data updates, and insufficient scalability , which seriously restrict the development of DeFi and other decentralized applications.
As a new generation of decentralized oracle protocol, RedStone innovatively adopts the On-Demand Data Fetching mechanism to provide more cost-effective Data solutions for blockchain applications, especially suitable for Layer2, Rollups, and high-performance DeFi applications. With its unique storage-signature-push architecture, RedStone is becoming an important part of the new generation Web3 data infrastructure.
Against the backdrop of increasing market recognition, RedStone's native token RED will officially launch on The First trading platform on March 7, 2025 . This not only means that the liquidity of RED token is further enhanced, but also provides global investors with a new opportunity to participate in the development of RedStone ecosystem.
What is RedStone?
RedStone is a Modularization and scalable decentralized oracle protocol that focuses on providing efficient and flexible Data solutions for DeFi, Layer2 ecosystems, and Rollups. Compared to traditional oracles, RedStone significantly reduces on-chain Gas costs through its unique storage and on-demand push mode, while providing richer customized data services.
RedStone has the following core features:
II. RedStone Operation Mode
RedStone's data processing process begins with the data collection stage. RedStone nodes collect data from various sources, including decentralized exchanges, centralized exchanges, and enterprise-level data suppliers. These diverse data sources can ensure the comprehensiveness and reliability of the data, laying a good foundation for subsequent processing.
After collecting the data, RedStone will enter the aggregation and refining stage. The system will use methods such as median, time-weighted average price (TWAP), or liquidity-weighted average price (LWAP) to process the data, which can effectively filter outliers and provide more accurate and stable price information, especially suitable for financial scenarios.
After the data processing is completed, the node operator will encrypt and sign the data to ensure its integrity and immutability. The signed data will be sent to the off-chain node stream - the "Data Distribution Layer" (DDL). This is a key component in the RedStone architecture, which stores all price feeds in a decentralized manner and provides data support for different oracle models.
Finally, according to specific needs, data will be transmitted from DDL to the blockchain through different delivery models. RedStone provides multiple data delivery modes, including Push and Pull models, to meet the needs of different scenarios. In the Push model, data will be actively updated to the chain at predetermined intervals; while in the Pull model, data will only be transmitted to the chain when a smart contract makes a request, greatly saving fuel costs.
This modular and flexible data flow design enables RedStone to provide accurate and fuel-optimized data feeds for various DeFi applications. RedStone has pioneered a new oracle service method, especially suitable for new financial assets such as LST and LRT. Through the Pull model, data is only transmitted to the chain when it is really needed, greatly saving transaction costs. At the same time, its "chain-agnostic" design allows the same data source to be seamlessly used in any blockchain network. This innovative method is particularly suitable for providing real-time and accurate prices for income-based collateral in the lending market, as these assets usually have unique pricing needs and high-frequency price update requirements. RedStone's solution ensures that these complex assets can be properly valued and used in DeFi applications.
RedStone's design philosophy focuses on Modularization to ensure that the system can adapt to the rapid development of blockchain technology and support the creation of new DeFi products and enhance existing applications.
III. RedStone Technology Core
RedStone has multiple technical advantages that make it stand out in the oracle race.
IV. RedStone team and financing information
RedStone is built by an experienced Web3 development team, and its founder Jakub Wojciechowski has deep technical accumulation in the blockchain and DeFi fields. Since its establishment, the project has been supported by many well-known investment institutions, including Lemniscap, Jump Crypto, Blockchain Capital, Coinbase Ventures and other well-known institutions.
In November 2023, RedStone completed $7 million financing to expand the decentralized oracle network and promote the integration of more DeFi and Web3 applications.
As a new generation of decentralized oracle protocol, RedStone innovatively adopts the On-Demand Data Fetching mechanism to provide more cost-effective Data solutions for blockchain applications, especially suitable for Layer2, Rollups, and high-performance DeFi applications. With its unique storage-signature-push architecture, RedStone is becoming an important part of the new generation Web3 data infrastructure.
Against the backdrop of increasing market recognition, RedStone's native token RED will officially launch on The First trading platform on March 7, 2025 . This not only means that the liquidity of RED token is further enhanced, but also provides global investors with a new opportunity to participate in the development of RedStone ecosystem.
What is RedStone?
RedStone is a Modularization and scalable decentralized oracle protocol that focuses on providing efficient and flexible Data solutions for DeFi, Layer2 ecosystems, and Rollups. Compared to traditional oracles, RedStone significantly reduces on-chain Gas costs through its unique storage and on-demand push mode, while providing richer customized data services.
RedStone has the following core features:
- On-demand data acquisition (On-Demand Data Fetching): Smart contracts only obtain data when needed, rather than feeding prices periodically, reducing gas fees.
- Decentralized data storage : Data is stored in decentralized storage networks such as Arweave for long-term availability and security.
- Modularization architecture : Compatible with multiple Layer2 solutions, allowing developers to customize data streams for greater flexibility.
- Extensive ecological adaptability : suitable for various application scenarios such as DeFi, GameFi, RWA (real asset on the chain).
II. RedStone Operation Mode
RedStone's data processing process begins with the data collection stage. RedStone nodes collect data from various sources, including decentralized exchanges, centralized exchanges, and enterprise-level data suppliers. These diverse data sources can ensure the comprehensiveness and reliability of the data, laying a good foundation for subsequent processing.
After collecting the data, RedStone will enter the aggregation and refining stage. The system will use methods such as median, time-weighted average price (TWAP), or liquidity-weighted average price (LWAP) to process the data, which can effectively filter outliers and provide more accurate and stable price information, especially suitable for financial scenarios.
After the data processing is completed, the node operator will encrypt and sign the data to ensure its integrity and immutability. The signed data will be sent to the off-chain node stream - the "Data Distribution Layer" (DDL). This is a key component in the RedStone architecture, which stores all price feeds in a decentralized manner and provides data support for different oracle models.
Finally, according to specific needs, data will be transmitted from DDL to the blockchain through different delivery models. RedStone provides multiple data delivery modes, including Push and Pull models, to meet the needs of different scenarios. In the Push model, data will be actively updated to the chain at predetermined intervals; while in the Pull model, data will only be transmitted to the chain when a smart contract makes a request, greatly saving fuel costs.
This modular and flexible data flow design enables RedStone to provide accurate and fuel-optimized data feeds for various DeFi applications. RedStone has pioneered a new oracle service method, especially suitable for new financial assets such as LST and LRT. Through the Pull model, data is only transmitted to the chain when it is really needed, greatly saving transaction costs. At the same time, its "chain-agnostic" design allows the same data source to be seamlessly used in any blockchain network. This innovative method is particularly suitable for providing real-time and accurate prices for income-based collateral in the lending market, as these assets usually have unique pricing needs and high-frequency price update requirements. RedStone's solution ensures that these complex assets can be properly valued and used in DeFi applications.
RedStone's design philosophy focuses on Modularization to ensure that the system can adapt to the rapid development of blockchain technology and support the creation of new DeFi products and enhance existing applications.
III. RedStone Technology Core
RedStone has multiple technical advantages that make it stand out in the oracle race.
- On-demand data feeding (On-Demand Data Fetching): Compared to the traditional timed push data model, RedStone allows smart contracts to obtain data only when needed, thus saving gas fees and improving efficiency.
- Layer2 compatibility : RedStone is designed to be highly compatible with Arbitrum, Optimism, StarkNet and other L2 solutions, ensuring that oracle data in the Rollups ecosystem runs at low cost and high efficiency.
- Customizable data : Developers can customize data streams according to their needs, adapting to different Web3 scenarios, such as NFT valuation, GameFi economic system, etc.
- Modularization Architecture : The architecture of RedStone oracle supports multiple integration methods and can flexibly adapt to different smart contract requirements, making it more competitive in DeFi and broader blockchain applications.
IV. RedStone team and financing information
RedStone is built by an experienced Web3 development team, and its founder Jakub Wojciechowski has deep technical accumulation in the blockchain and DeFi fields. Since its establishment, the project has been supported by many well-known investment institutions, including Lemniscap, Jump Crypto, Blockchain Capital, Coinbase Ventures and other well-known institutions.
In November 2023, RedStone completed $7 million financing to expand the decentralized oracle network and promote the integration of more DeFi and Web3 applications.
