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RedStone’s Seamless Integration with Angle: The Rise of Real-World Assets (RWAs) in DeFi

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Discover the case study of Angle x RedStone Oracles Integration

Angle Protocol collaborates with RedStone to integrate real-world assets into the DeFi space. This partnership emphasizes the importance of accurate and reliable oracles, as showcased by RedStone’s implementation of Angle’s tokenized asset, the Amundi ETF.

What’s Angle Protocol?

Angle is a decentralized, capital-efficient and over-collateralized stablecoin protocol composed of smart contracts running on open blockchains. It can be used to issue stablecoins designed to mirror the value of an asset they are pegged to.

The protocol consists of several different modules, or sets of smart contracts, from which stablecoins can be issued or minted. 

agEUR is supported by an innovative price stability module called the Transmuter: the Transmuter introduces minting and redemption mechanisms that centers safety and resilience thanks to automated controls of exposures to assets and fair redemptions in case of black-swan events. Angle also deployed a Borrowing module allowing to borrow agEUR against various crypto assets deposited as collateral.

The protocol is also engaged in Direct Deposit Modules, also called Algorithmic Market Operations (AMOs), allowing it to bootstrap liquidity for agTokens in other protocols.

Angle’s Oracle Needs

After publishing RedStone’s proposal on the governance forum and successfully passing voting with 100% of participants in favour, the RedStone team started to work on an integration with Angle team.

Angle’s infrastructure has always been tied to oracles’ availability and reliability. In this specific case, there was a voted plan to diversify agEUR’s backing with tokenized ETF relating to short-term Euro bonds – the bC3M. Implementing this naturally required oracles to price this asset.

Implemented Solution

In the rapidly evolving world of DeFi, integrating real-world assets and ensuring their accurate representation on the blockchain is paramount. One of the prime examples of Redstone’s capabilities is its daily price feed for an ETF of short-term (0-6 Months) Euro treasury bonds, an esteemed real-world asset. 

In collaboration with Angle, Redstone refreshes the price of this asset around noon daily, ensuring that DeFi platforms and their users have access to up-to-date, reliable data. This consistent and timely price update is essential for various DeFi activities, ranging from trading, and lending, to collateralization. Interested parties can further verify and view the current prices delivered by the Redstone oracle on the Ethereum blockchain via the smart contract hosted here. As the DeFi sector continues to bridge the gap between traditional finance and decentralized systems, collaborations like the one between Angle and Redstone offer a promising glimpse into the future.

What’s next for RedStone and Angle?

Plans to use tokenized off-chain assets such as the bC3M in Defi have been heavily discussed and called for. RedStone is an enabler by being reactive and responsive to demands in the ecosystem. Moving forward, the synergy between RedStone’s oracle solutions and Angle’s robust protocol infrastructure promises to pave the way for broader asset integrations. This collaboration signifies a dynamic shift, aiming to create a more inclusive, efficient, and diversified DeFi landscape.

“The ability to deliver an oracle for a tokenized asset that differs from the standard crypto assets regularly priced in Defi expands possibilities for many protocols including Angle.” says Mariam Kouanda, Head of Business Development and Marketing at Angle.

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, Ecosystem-native tokens, Real World Data, and custom feeds.
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