I. What is RedStone?
RedStone is a modular and scalable decentralized oracle protocol focused 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 more customized data services. RedStone has the following core features:- On-Demand Data Fetching: Smart contracts only fetch data when needed, rather than periodic price feeds, reducing Gas fees.
- Decentralized Data Storage: Data is stored in decentralized storage networks like Arweave, ensuring long-term availability and security.
- Modular Architecture: Compatible with multiple Layer2 solutions, supporting developers to customize data flows for increased flexibility.
- Broad Ecosystem Adaptability: Applicable to various use cases such as DeFi, GameFi, and RWA (Real-World Assets on-chain).
II. RedStone's Operation Model
The data processing flow of RedStone starts with the data collection stage. RedStone nodes collect data from various sources, including decentralized exchanges, centralized exchanges, and enterprise-level data providers, ensuring the comprehensiveness and reliability of the data, which lays a good foundation for subsequent processing. After data collection, RedStone enters the aggregation and refinement stage. The system uses methods such as median, time-weighted average price (TWAP), or liquidity-weighted average price (LWAP) to process the data, effectively filtering out outliers and providing more accurate and stable price information, particularly suitable for financial scenarios. Once the data processing is complete, the node operators will encrypt and sign the data to ensure its integrity and immutability. The signed data will then be sent to the off-chain node stream, i.e., the "Data Distribution Layer" (DDL), which is a key component of the RedStone architecture. It stores all price feeds in a decentralized manner, providing data support for different oracle models. Finally, the data will be delivered to the blockchain through different delivery models based on specific requirements. RedStone provides various data delivery modes, including Push model and Pull model, to meet the needs of different scenarios. In the Push model, data is actively updated to the chain at predefined time intervals; while in the Pull model, data is only transmitted to the chain when the smart contract makes a request, significantly saving fuel costs. This modular and flexible data flow design allows RedStone to provide accurate and fuel-optimized data feeds for various DeFi applications. RedStone has pioneered a new way of providing oracle services, particularly suitable for new financial assets like LST and LRT. Through the Pull model, data is only sent to the chain when it is truly needed, greatly reducing transaction fees. Meanwhile, its "chain-agnostic" design allows the same data source to be seamlessly used across any blockchain network. This innovative approach is especially suitable for providing real-time and accurate prices for yield-bearing collateral in the lending market, as these assets often have unique pricing requirements and high-frequency price update demands. RedStone's solution ensures that these complex assets can be correctly valued and utilized in DeFi applications. RedStone's design philosophy is centered on modularity, ensuring that the system can adapt to the rapid development of blockchain technology and support the creation of new DeFi products and the enhancement of existing applications.III. RedStone's Technical Core
RedStone has multiple technical advantages that set it apart in the oracle landscape: 1.IV. RedStone Team and Funding Information
RedStone is built by an experienced Web3 development team, with its founder Jakub Wojciechowski having a deep technical background in blockchain and DeFi. Since its inception, the project has received support from many renowned investment institutions, including Lemniscap, Jump Crypto, Blockchain Capital, and Coinbase Ventures. In November 2023, RedStone completed a $7 million funding round to expand its decentralized oracle network and drive the integration of more DeFi and Web3 applications.V. RedStone Token Economics
The RED token, with a carefully planned total supply of 1 billion, has an initial circulating supply of 30% of the total, following the ERC-20 standard, and making its grand debut on the Ethereum mainnet. After the successful completion of the TGE (Token Generation Event), the RED token not only thrives in the vast expanse of Ethereum, but also courageously crosses the boundaries, venturing into numerous popular blockchain platforms such as Solana and Base, with the help of the advanced cross-chain bridge technology Wormhole. Through Wormhole's native token transfer mechanism, the RED token will realize the grand blueprint of multi-chain deployment, expanding its circulation and usage across a broader blockchain ecosystem, providing users with unprecedented flexibility and convenience.
The RedStone token distribution strategy is clear and coherent, embodying fairness and foresight. Nearly half of the RED tokens (48.3%) are generously allocated to the RedStone ecosystem and community, with the specific distribution as follows:
- Community and Genesis (10%): Through the initial claiming activity, we join hands with the community to build the future.
- Protocol Development (10%): Fully support critical research and development, laying a solid technical foundation.
- Core Contributors (20%): Recognize and reward the team members who have made outstanding contributions to the protocol's foundation.
- Ecosystem and Data Providers (28.3%): Stimulate innovative vitality and promote the thriving growth of the community.
- Early Supporters (31.7%): Express gratitude and reward those far-sighted individuals who have steadfastly supported the development of RedStone.
Main Usages:
- Staking Mechanism: Data providers need to stake RED tokens to ensure the accuracy of the provided data and prevent malicious attacks.
- Transaction Fees: Using the RedStone oracle requires paying RED tokens as a service fee.
- Community Governance: RED token holders can vote on matters related to the development direction of the RedStone ecosystem and protocol upgrades.
VI. Analysis of RedStone's Future Value
As a new-generation oracle protocol, RedStone has obvious advantages in data acquisition methods, cost optimization, and ecosystem compatibility, particularly in the Layer2 and Rollups ecosystems, where it has broad application prospects. As DeFi, GameFi, and RWAs (Real-World Assets on-chain) continue to develop, the demand for efficient and low-cost oracles will continue to grow, and RedStone has good market potential. As a leading global digital asset trading platform, The First will officially list the RED token on March 7, 2025. This will provide investors with more trading opportunities and better liquidity support. Why choose The First to trade RED?
- Professional Trading Experience: Providing a smooth trading interface and low-slippage trading mechanism.
- Efficient Matching Engine: Ensuring the depth and liquidity of RED trading, helping users achieve better prices.
- Diverse Investment Opportunities: Supporting multiple trading pairs, allowing RED to play a role in a broader DeFi ecosystem.
As an innovative decentralized oracle protocol, RedStone is driving the development of the Web3 oracle track, and the launch of the RED token will also bring opportunities to more investors. Don't miss this important dynamic in the crypto industry, go to the The First trading platform immediately and seize the market opportunity of the RED token!
