RedStone, the fastest-growing blockchain oracle, and Spark Protocol, one of the largest DeFi protocols, are proud to announce that Spark has adopted RedStone oracle price feeds to secure their lending product SparkLend.
RedStone delivers robust, real-time price data for any asset on any chain with the highest standard of security. Now this data will be used by Spark Protocol to protect the billions of dollars deposited within Spark’s largest lending markets.
What is Spark?
Spark is one of the largest DeFi protocols in existence, offering users products for non-custodial saving and lending, and liquidity provision for major DeFi protocols.
Developed by a team with deep roots in decentralized money markets, especially the Sky (formerly MakerDAO) ecosystem, this is the next evolution of the original Sky protocol, which pioneered onchain money markets and decentralized stablecoins. Spark secures billions of dollars for users and has some of the strictest security requirements in DeFi. Sky ecosystem has opened up for RedStone’s modular price feeds to markets in their product, starting with SparkLend.
Why RedStone?
RedStone is DeFi’s modular oracle. In 2024 RedStone was the fastest growing blockchain oracle, adding more than 100 new clients.
RedStone modular architecture gives it the widest coverage of any oracle provider, and is live on over 70 chains, supporting more than 1,250 assets. RedStone was the first oracle to offer feeds for LSTs, LRTs, Proof-of-Reserves (PoR) for Bitcoin LST and yield-bearing stablecoins.
RedStone is live on all SparkLend markets using ETH and BTC price feeds, as well as all derivatives of those feeds, like wstETH and cbBTC. In addition, RedStone feeds will secure all of SparkLend’s LST and LRT markets.
RedStone delivers 43 price feeds on Ethereum including the two main ones ETH and BTC, source: RedStone https://app.redstone.finance/app/tokens/
Securing Spark with RedStone price feeds
SparkLend relies on blockchain oracles to keep its lending markets secure, using real-time price updates to ensure accurate lending, borrowing and liquidation processes.
SparkLend requires price feeds that meet the highest possible standards for security, support assets ranging from ETH and BTC to LSTs and LRTs.To ensure a secure system, it relies on oracles with diverse pricing methodologies, including market rate oracles and fundamental rate models like smart contract ratio-based oracles, maintaining the highest security standards across all supported markets.
To ensure maximum security, SparkLend integrates three oracle providers: RedStone, Chainlink, and Chronicle. In black swan events where one or two oracles fail, the system relies on the remaining operational oracle, providing multiple layers of redundancy.
RedStone price feeds have been approved on SparkLend by Sky Governance. This decision was supported by Sky’s risk management provider, BlockAnalytica, who asserts that RedStone oracles will increase the robustness and security of SparkLend’s infrastructure.
“Onchain TWAPs can be vulnerable to manipulation if the period is short, but then face significant latency and inaccuracy if a longer period is selected, rendering them less suitable for high value oracle use cases. We view the use of RedStone instead of Uniswap TWAP as an improvement from a risk perspective.” ~ monetsupply from BlockAnalitica team.
See the full list of SparkLend markets here.
You can integrate RedStone price feeds today:
- Push model feeds: https://app.redstone.finance/app/feeds/
- Pull model feeds: https://app.redstone.finance/app/pull-model/redstone-primary-prod/
Integration guide: https://docs.redstone.finance/docs/get-started/models/redstone-pull/
About RedStone
RedStone is a modular blockchain oracle specializing in yield-bearing assets for DeFi and on-chain finance, especially value-accruing stablecoins, Liquid Staking and Restaking Tokens. It offers secure, reliable and customisable data feeds across 60+ chains. Trusted by Ethena, Securitize, Morpho, ether.fi, Lombard and more.
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