What is Avalanche Summit and what to expect?
Despite the bear market Avalanche Summit is coming back with full force. The can’t-miss annual event where the whole Avalanche ecosystem & builders (and beyond) gets together.
What to expect this year?
🔹 100+ exhibitors (like DeltaPrime, Circle or The Graph)
🔹 2,000+ attendees
We’re excited to be back too! Last time we came as a relatively unknown startup, this year we’re coming as a well-established ecosystem partner working closely both with AvaLabs core team and Avalanche dApps & builders.
RedStone Founder (Kuba) and Lead dev (Alex) on Avalanche Summit 2022
3 Key events since Avalanche Summit 2022
Avalanche Ecosystem is growing fast but let’s dive into 3 key events in the past year.
- Avalanche Warp Messaging
In December 2022 Avalanche Warp Messaging was brought to life. Playing a significant role in enhancing communication and data sharing among all Avalanche Subnets. As a result, the Avalanche ecosystem witnessed a surge in growth and collaboration, further solidifying its position as a leading platform for decentralized applications and services.
In February 2023, Avalanche introduced HyperSDK. This developer toolkit has enabled developers to simplify and accelerate custom Virtual Machine development. HyperSDK has attracted numerous innovative projects and developers to the Avalanche platform, contributing to its overall growth.
- Subnets Launch (Elastic, Evergreen, Spurce)
Avalanche ecosystem is becoming more accessible for institutions by launching Elastic, Evergreen and Spruce Subnets. These subnets have introduced a new level of customization and scalability to the platform making the chain use-case-specific. RedStone is a proud Spruce launch partner, delivering data feeds in both Core and Classic Oracle models to the newly launched subnet.
RedStone achieved numerous key milestones too. Our team has grown from 5 to 21 people, keeping 85% dev to non-dev ratio. We secured a $7M Funding Round led by Lemnicap with participation of Blockchain Capital, Maven11, Coinbase Ventures, Arweave, and others.
We also completed 3 audits: ABDK, PeckShield, Independent auditors (such as Piotr Szlachciak – L2Beat cofounder), and released 3 models of data consumption, all available on Avalnche C-Chain and subnets:
- RedStoneCore (On-Demand model, used by DeltaPrime);
- RedStone Classic (Push Oracle model),
- RedStone X (No-Frountrunning model)
What is RedStone’s role in the Avalanche ecosystem?
We established close cooperation with the AvaLabs team gaining a unique position as an Oracle available out-of-the-box on all new EVM-compatible subnets.
“RedStone Oracles’ modular architecture make them the perfect solution for Avalanche’s EVM-compatible subnets and C-Chain. Their reliability and customisability gives teams a foundation to innovate and be creative, instead of being a blocker that they need to build around.” said Campbell Easton, Chief Marketing Office at Float.
Successful implementation within Avalanche Ecosystem
Our DeltaPrime Integration (one of the hottest protocols on Avalanche right now) went live on mainnet in January 2023 and managed to amass $20M TVL in just one month after the launch.
“…we need to have pricing of LP tokens and this is not easy to find with the traditional oracle approach. RedStone gave us all the customization we could have asked for.” ~said mbare, CEO DeltaPrime
Thanks to an off-chain stream of nodes called “RedStone Data Access Layer” there is no need to pay gas costs for new price data, and the data is being pushed on-chain only when it’s needed (for example during the liquidation).
Wrapping up, it’s been an amazing year for the Avalanche ecosystem, and we’re happy we can be a part of it. We can’t wait to see what’s next, as we continue to collaborate and innovate together to make the Avalanche community even stronger and more vibrant. Here’s to the future and pushing the limits of innovation.
RedStone is revolutionizing Oracles industry by implementing novel modular design and 3 tailor made data consumption models. You can build the new generation of DeFi & Web3 protocols based on RedStone’s versatile data offering of long-tail, Lp, Ecosystem-native tokens, as well as Real World Data and custom feeds.