RedStone Explosive Growth: The Blockchain Oracle of 2024 🌳

December 31, 2024

Starting with the Fundamentals

Let’s allow the facts to speak—starting with raw numbers. In the last year RedStone achieved extraordinary growth:

TVS grew (+6,000%) from $110m in Jan 2024 to $6.6b.
32 New bespoke assets added including tokens from Ethena, EtherFi, Renzo, Puffer, Lido, StakeStone, Dinero, Elixir and Lombard.
22 New chains added in the Push model, including Mode, Zircuit, Merlin Chain, BOB, Blast, Sei, Ink, Swellchain or Story Protocol.
72 New clients including big names like Pendle, Morpho, Venus, Euler or FraxLend.

These accomplishments make RedStone the fastest growing in the space.

$15M Series A Funding

This year was fruitful for other reasons as well. RedStone presented its series A $15M funding round, which helped develop the architecture and solidify its position. It enabled to continue serving the secure, flexible and efficient price feeds to the top projects in the space. The round was led by Arrington Capital, with participation from other prominent names and angel investors, including leaders from companies like Berachain and Ether.fi. For the full list of investors, check here.

RedStone and the $500M Restaking Commitment from Ether.fi

Back in April, RedStone sealed a groundbreaking deal with Ether.fi to enhance oracle security through EigenLayer’s Restaking mechanism. As part of this collaboration, $500M in restaked ETH from Ether.fi will be committed to extending the crypto-economic security of RedStone Oracles. It will serve as a safeguard against both liveness failures and malicious attacks within the network of RedStone’s node providers. Thanks to this partnership, RedStone became the first oracle network to receive the LRT restaking delegation. All of that is possible via AVS infrastructure on top of EigenLayer.

“The partnership guarantees RedStone Oracle is backed by the industry’s most secure crypto collateral and verified by the most diverse validation set, addressing the core challenge of bootstrapping the network’s security in line with Total Value Secured (TVS) growth ⚖️I’m personally thrilled to witness RedStone Oracles leveraging the EtherFi ecosystem to bolster its security,” says Mike Silagadze, CEO of Ether.fi

The Frontrunning Blockchain Oracle

RedStone stands out as a frontrunner in the blockchain oracle space, thanks to its innovative and flexible architecture. This unique design allows RedStone to quickly adapt and support cutting-edge assets, making it the first oracle to offer robust price data for projects like Ethena, EtherFi, Renzo, Kelp, Puffer, Elixir, and Lombard. RedStone is always ready to provide reliable, real-time data when it’s needed the most.

This leadership is why Pendle chose RedStone for their $weETH market on Arbitrum. Using RedStone’s advanced oracles methodology, Pendle sources the contract ratio for multiple markets, including $weETH, with unparalleled accuracy and efficiency.

RedStone’s ability to deliver tailored, cutting-edge solutions has made it the go-to choice for innovators like Pendle, reinforcing our role as a driving force in the future of DeFi.

Monad and Berachain 🐻⛓️

When it comes to chains, RedStone is consistently partnering with the best in the industry. This year only, RedStone proudly announced its support for Monad Testnet. Both Models, Push and Pull, are already confirmed to be starting from day 1 on the Mainnet. Similarly, Berachain has been supported from day 1 on their Testnet, demonstrating our commitment to being at the forefront of blockchain innovation.

Fast integration is a prime example of the flexibility our modular design allows, allowing us to adapt to new ecosystems quickly.

PS: Did you know that RedStone was the first verified contract on the Berachain bArtio Testnet B2? It’s just one more example of how we’re setting the standard in blockchain oracles.

Unichain, Swell L2 and Ink

In 2024, RedStone expanded its reach by supporting over 20 new chains. Names like Unichain, Swell L2 and Ink all of which received support from day one. Whether it is a liquidity hub for the multichain world built by Uniswap, having near-instant transactions. Ethereum Layer 2 blockchain built on the OP stack, designed to be the ultimate house of DeFi for the Superchain or Layer 2 rollup dedicated to restaking, RedStone is always prepared to deliver. RedStone continues to set a high bar for performance and reliability across the blockchain space.

By builders, for builders.

BTCfi Oracle

RedStone frontrunning the market by capturing all newest narratives like BTCfi unlocking new possibilities for 19.8M BTC in circulation to earn yield and secure the space. RedStone is currently working with the major Bitcoin Finance players such as Babylon and Lombard and is actively present on prominent Bitcoin chains like B², Hemi Network, and BuildOnBob.

RedStone has launched the first market-ready Bitcoin Staking Oracles, enhancing Babylon-powered solutions and delivering the first implementation for Lombard Finance. The LBTC/BTC price feed marks the debut of Bitcoin Staking Oracles. Different block times and edge cases in syncing the Mint and Burn mechanisms of Bitcoin LSTs make such implementations highly nuanced and technically challenging, but RedStone is there to support the builders.

RedStone – The First & Only

Is it worth mentioning that some chains decided to onboard RedStone exclusively as the only oracle provider. StoryProtocol, for instance, chose RedStone as its exclusive oracle provider to power its intellectual property-focused layer.

If you wish to deep dive, look here.

In addition, RedStone secured the spot as the first & only oracle on TON Network for over a year, highlighting the reputation for delivering trusted and high-quality solutions. These exclusive collaborations underscore RedStone’s ability to lead as the oracle of choice for truly visionary projects.

AVS Testnet Launch

Price data is all about security and RedStone continues to lead in ensuring it. To enhance security while increasing scalability and efficiency, RedStone planned and executed the launch of an Actively Validated Services (AVS) on Testnet. With the help of Othentic Stack, which provides pre-built components for production use, RedStone was able to make it happen. This helps reduce obstacles in development and lowers the amount of engineering work needed. The AVS Testnet showcases RedStone’s commitment to advancing the infrastructure of blockchain oracles, setting a new benchmark for efficiency and reliability.

Interested in AVS? Read our AVS Blogpost.

3 Seasons of RedStone Expedition

In the Expedition, you take on the role of a RedStone Miner, completing both on-chain DeFi and off-chain quests to earn valuable RedStone Gems (RSG) and gain distinctions & glory through various roles. This year, RedStone managed to lead and complete 2 of the 3 Seasons of the RedStone Expedition (the last one is still ongoing). The journey was full of gifts for Miners and precious moments spent together. During the Expedition, we managed to achieve over 100 dedicated and hardworking ambassadors and over 200k Miners on RedStone discord.

Stoney – Friend Forever

One of the major accomplishments this year was bringing our cute little friend Stoney to live. Since his introduction, he was loved by all Miners and has even joined us on exciting journeys across the globe. Stoney accompanied us to DevCon in Thailand, where he became a beloved figure in the community. Without him, RedStone would not be able to accomplish so many great things this year! He has become more than just a mascot – he’s a true ambassador of our vision, inspiring our team and community of Miners.

Reports & other research

RedStone has been publishing a wealth of alpha through reports and blog posts that provide valuable insights for the blockchain space. Highlights include:

These reports reflect RedStone’s thought leadership and its ability to stay ahead of trends in the blockchain space. By providing actionable insights, we empower developers and projects to make informed decisions and build better solutions.

IRL events

This year, RedStone made a global impact by attending some of the most important blockchain events around the world. From Denver (Devconnect) to Bangkok (DevCon), and ETHcc in Brussels to Taipei Week, our team connected with thousands of community members and innovators.

Other highlights include EthWarsaw, Token2049, Consensus, and Berlin Blockchain Week, among many more. These events allowed us to showcase our advancements, forge new partnerships, and solidify RedStone’s presence as a leader in the blockchain ecosystem.

About Us

RedStone is a modular oracle delivering reliable price feeds for emerging DeFi assets, including LSTs, LRTs, and Bitcoin Liquid Staking tokens. Our gas-efficient data feeds span 50+ chains and rollups, securing over $6 billion in TVL. Trusted by over 100 projects, including Morpho, Venus, and Pendle, RedStone’s Push & Pull oracle models serve both established protocols and innovative DeFi projects pushing the boundaries of financial innovation.