RedStone is a decentralized oracle platform that provides reliable, frequently updated, and diverse data feeds for decentralized applications (dApps) and smart contracts across various blockchain networks. Its modular architecture supports both new and established dApps on trending Layer 1 and Layer 2 solutions, delivering non-standard data such as liquidity provider (LP) and staked tokens.
Value Proposition:
RedStone offers a flexible, cost-efficient, and scalable oracle solution for decentralized applications. Its modular design ensures seamless integration across multiple blockchains.
Governance:
RedStone aims to achieve decentralization by allowing token holders in its development and decision-making processes.
Tokenomics:
RedStone Oracles is developing the RST token to facilitate reliable and accurate information delivery from external sources to blockchain networks. This token will incentivize participants to produce, publish, and validate data continuously. Users will pay data access fees using the token, with providers setting fees based on their efforts and market demand.
Previous Funding:
In July 2024, RedStone raised $15 million in a Series A funding round led by Arrington Capital.
