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RedStone Oracles enters Mantle Ecosystem propelling DeFi growth

What is Mantle?

Mantle Network is a technology stack for scaling Ethereum, and we strive to be EVM-compatible while doing so. Being EVM-compatible means all the contracts and tools that work on Ethereum also work on Mantle Network with minimal modifications. Users can experiment with exciting web3 apps, and developers can deploy smart contracts in an efficient, low-fee environment. Mantle Network was developed by BitDAO (now rebranded to Mantle) which has the biggest DAO treasury in the world.

Mantle began the year with a highly-anticipated testnet launch on Jan. 10, 2023. Since the launch of Mantle Testnet, it has achieved:

Total Transaction Count > 2,800,000
Unique Smart Contracts > 33,000
Unique addresses that have deployed contracts > 22,000

More on this in the roadmap summary.

Mantle Token $MNT

Mantle token will power Mantle Network as its native gas token, data availability (DA) node staking token, and ecosystem growth token. All future Mantle products will likewise be powered by Mantle token, as it continues to serve as the governance token of Mantle Governance.

Mantle x RedStone Integration

Mantle is an EVM-compatible blockchain, so integration with RedStone oracles was fairly easy. Our library evm-connector which is in line with RedStone Core Model tested on many other chains where data is dynamically injected into user transactions providing gas efficiency and a great user experience. To be sure that everything works fine we deployed a test contract on Mantle extended by our data consumer contract which is required to verify data correctness. An example contract receives price data from the evm-connector framework, extracts it and then returns it as the transaction to the chain is successful. This gives us the certainty that the transaction send has proper information about prices and that integration with Mantle is working. Thanks to that any protocol is able to start using RedStone oracles on Mantle and build superb products.

“We’re thrilled to welcome Redstone into Mantle Ecosystem and introduce more reliable and seamless oracle integrations on our network, so developers get access to more tools that’ll empower their builds,”

said Arjun Kalsy, Head of Ecosystem at Mantle.

Why It’s So Important and What’s Next?

The integration of RedStone Oracles into the Mantle Ecosystem unlocks a wealth of new features and opportunities, particularly for the DeFi sector within Mantle ecosystem. The hyper scale performance – low fees and faster finality align seamlessly with RedStone’s vision for ultra-low latency on-demand Oracles, making real-time, accurate data available for smart contracts. Oracles are critical for the development of DeFi applications such as lending platforms, derivatives, options, and perpetuals, providing reliable and timely data necessary for their functioning. In essence, this integration is a major step towards a more efficient, transparent, and inclusive DeFi ecosystem.

How Can I Start Building?

Don’t forget that Mantle Network offers a Grants Program that provides milestone-based funding to promising projects that help expand, secure, and decentralize the network and the wider ecosystem. To support the next generation of innovators, builders, and developers, Mantle is growing its ecosystem via Mantle EcoFund, which helps to manage a catalyzed capital pool of $200M.

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