Skip to content

Case Study: CIAN Integrates RedStone Oracles to Revolutionize Algorithmic Strategic Vaults and Decentralized Automation Tools

Discover the results of CIAN x RedStone Oracles Integration

The integration of RedStone Oracles into CIAN’s platform has yielded impressive outcomes. Previously, CIAN faced challenges with conventional oracles, including high latency and potential price discrepancies. However, with RedStone’s Core (aka Pull or On-Demand) model integration, CIANnow benefits from reduced latency and accurate price feeds. This seamless integration has improved the reliability and efficiency of their LST strategies, safeguarding users’ assets and enhancing overall performance.

What’s CIAN Protocol?

CIAN is a decentralized automation platform that helps users earn from DeFi yield opportunities safely and efficiently. The main thrust of CIAN’s operations centres on yield opportunities connected with liquid staking tokens (LST, alternatively referred to as LSD).

The platform empowers users to architect, oversee, and optimize strategies across multiple protocols using a diverse range of cryptocurrencies. This includes popular choices such as BTC, ETH, many Stablecoins, and mainstream liquid staking tokens like wstETH, rETH, MaticX, and sAVAX. This level of versatility provided by CIAN ensures that users have an extensive range of options for managing their crypto assets and maximizing their investment returns.

CIAN’s Oracle Needs

CIAN faced challenges with conventional oracles, which introduce high latency and potential price discrepancies. Adopting a conventional oracle in CIAN’s design would require additional complex mechanisms to address price inaccuracies, resulting in increased gas consumption. To overcome these limitations, integrating RedStone offered a solution with reduced latency and accurate price feeds. This integration enhances the reliability and efficiency of CIAN’s strategy vaults, safeguarding users’ assets and improving overall performance.

Implemented Solution

After we had analysed the needs of the CIAN team we decided to propose our “Core Model”. 

In this setup, CIAN can consume multiple feeds at a very low latency in an efficient way, where gas costs are only charged when the data is used. Thanks to our automatic mechanism of injecting the feeds to user payload the solution could be used without changing smart-contracts interfaces. 

Moreover, all the feeds in the “Core Model” are accessible on any EVM-compatible chain allowing CIAN to quickly expand to new ecosystems in the future.

CIAN Team Exclusive Interview

Our speaker is Luffy, the Founder of CIAN.

1. Can you describe your initial oracle problem in a few sentences? 

Despite the maturity, conventional oracles provide a high latency solution where the oracle feed price could differ significantly from the market price. Although this might be tolerable in many use cases, in certain use cases, this could lead to a large detriment to users’ assets. To adopt a conventional oracle in CIAN’sdesign, CIAN needs to devise an extra complicated mechanism to alleviate the price inaccuracy, which is also gas-consuming.

2. What are the exact obstacles and limitations you encountered? 

When selecting the Oracle for CIAN’s strategy vaults, we consider a vector of aspects – reliability, level of decentralization, EVM compatibility, and most importantly price latency. RedStone stands out in virtually all these aspects while providing close to real-time price feeding. This allows CIAN to provide the maximum capital efficiency to their users.

3. Why have you decided to integrate RedStone?

The integration is neat and almost hassle-less, we did not need to modify the abi of our smart contracts to cope with the Redstone oracle, just to import SDK and javascript payloads. It was a pretty smooth experience.

About RedStone

RedStone is revolutionizing the 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, LST, and Ecosystem-native tokens, as well as Real World Data and custom feeds.

See what such a project could look like for your protocol Twitter | Discord | Telegram