Redstone-Chain – Oracle & Data Updates
Project Name: Redstone (Redstone Oracle)
Launch Date / Mainnet Date: Q1 2024 (Mainnet on EVM chains like Arbitrum, Optimism, Avalanche, Polygon, Base)
Founders & Team: Jakub Wojciechowski (CEO, Co-founder), Marcin Kaźmierczak (CTO, Co-founder). Incubated by Warp.
Investors / Backers: Coinbase Ventures, Blockchain Capital, Semantic Ventures, North Island Ventures, Arrington Capital, StarkWare, Maven 11 Capital, Lemniscap, Factor. Individual backers include Stani Kulechov (Aave), Sandeep Nailwal (Polygon), Alex Gluchowski (zkSync), Balaji Srinivasan.
Total Funding Raised: $7 million Seed Round.
Category: Data Oracle, Decentralized Oracle Network (DON), DeFi Infrastructure
Key Features / Tech Highlights: Modular design for on-demand data delivery to dApps, significantly reducing gas costs. Supports multiple data delivery models (Redstone Core for on-demand, Redstone Classic for on-chain, Redstone X for high-frequency). Offers a wide range of data feeds including long-tail assets, real-world assets, LP tokens. EVM-compatible and integrates with various Layer 1s and Layer 2s.
Ecosystem Partners: Arbitrum, Optimism, Base, Polygon, Avalanche, Scroll, Mantle, zkSync, Starknet, Celo, Linea, Aave, Lido, SushiSwap, Balancer, Gamma, Hyperliquid, Venus Protocol, Maverick Protocol, Pendle, Frax Finance, Morpho, Ether.fi, Kelp DAO, Renzo, LayerBank.
Token Info: Ticker: Not yet announced. A token is anticipated for governance and staking, but no official launch details or tokenomics have been released.
Redstone-Chain is rapidly establishing itself as a pivotal infrastructure layer in Web3, revolutionizing how decentralized applications access and utilize real-world data. It addresses the critical challenges of data latency, cost, and availability faced by traditional oracle networks. By offering a modular and highly flexible data delivery model, Redstone-Chain empowers protocols to define their own data requirements, ensuring fresh, reliable, and cost-efficient data streams for a wide array of use cases, from high-frequency DeFi applications to dynamic NFT projects and gaming. Its innovative approach, which includes an on-demand data fetching mechanism and customizable data feeds, unlocks new possibilities for builders to create more sophisticated and responsive dApps without being constrained by conventional oracle limitations.
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For protocols that leverage Redstone-Chain’s cutting-edge oracle and data updates, understanding and engaging their target audience is paramount. Whether it’s a DeFi protocol needing real-time price data, an NFT marketplace verifying off-chain metadata, or a gaming platform using dynamic data for in-game mechanics, the success of these applications hinges on acquiring and retaining users who value their data-rich features. Redstone-Chain’s innovation allows for the creation of incredibly powerful and dynamic dApps, but these tools need to find their way into the hands of the users who will most benefit from them.
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