For oracles to thrive and secure DeFi long-term, sustainable infrastructure is key. RedStone Distributed Data Association recently unveiled RED tokenomics – if you haven’t seen it yet, check it out — here.
The staking process is organized and powered by EigenLayer introducing a robust security mechanism and pioneering sustainable oracle infrastructure. Staking is a core primitive, driving network decentralization while ensuring alignment between participants and network health.
This blog explores RED staking, its technical role in the RedStone oracle network, and a step-by-step guide on how to stake your tokens and contribute to the first truly sustainable oracle economy.
The RED flywheel is around the corner ♦️
RED is Live
RED Utility: Staking For Economic Security
Leveraging RedStone’s EigenLayer Actively Validated Service (AVS), RED staking adds a robust layer of economic security to RedStone’s oracle stack, utilizing staked RED and potentially tapping into billions of dollars staked in EigenLayer for additional security.
RED can be staked by data providers, who supply data to RedStone’s modular oracle network, and by token holders, who enhance network security through direct staking in the RedStone AVS.
RED stakers will be compensated for actively securing data quality used across hundreds of blockchains, receiving protocol incentives aligned with the network’s activity.
RED Security Flywheel
This shapes an elegantly crafted RedStone security flywheel, delivering proven utility to token holders in a sustainable, continuous cycle.
In short, greater demand for RedStone products increases the need for data security, boosting participation incentives and, in turn, strengthening the overall network resilience.
Stake Your RED
RED staking will be live from day one of the RedStone token launch, offering two premier staking options tailored to your preferences and needs.
RED Staking with EigenPie: Welcome mRED
Stake RED with EigenPie and obtain mRED, a liquid staking token representing your contribution. Receive network incentives while maintaining the flexibility to use mRED across DeFi apps – a highly flexible way to support the network.
Step 1
Visit the official website and verify the link to prevent any fraudulent attempts.
https://www.eigenlayer.magpiexyz.io/restake/0xc43C6bfeDA065fE2c4c11765Bf838789bd0BB5dE
Step 2
You’ll be directed to a simple interface. The first step is to connect the wallet holding your RED.
Step 3
The final step is staking your RED tokens. Choose the amount, approve the staking contract, and then complete the stake transaction.
After successfully staking, you’ll receive mRED, a liquid staking version of RED issued via EigenPie. You can use mRED across the ecosystem while maintaining staking flexibility and eligibility for active RED staking incentives.
RED Native Staking via EigenLayer
Now, let’s go over how to stake RED natively through the EigenLayer app. This is the most direct and permissionless method, allowing you to personally select the node operator you stake with.
Step 1
Visit the official EigenLayer website and verify the link to prevent any fraudulent attempts. The first step is to connect the wallet holding your RED.
https://app.eigenlayer.xyz/token/0xc43c6bfeda065fe2c4c11765bf838789bd0bb5de
Step 2
Next, click the “Restake” button.
Step 3
You’ll be redirected to the staking window. Choose the amount of RED to stake, then click “Deposit.”
Step 4
Now, you’re redirected to the delegation window. Select an operator to run the infrastructure staking your tokens, then click “Submit” and sign the transactions to finalize the process.
This is the final step of RED staking via the EigenLayer app.
And that’s it! Staking RED is that simple. By doing so, you actively contribute to strengthening the RedStone ecosystem, receive compensation for your service, and enhance the oracle network’s economic security.
If you experience any issues while staking your RED or notice suspicious activity, please contact us through this submission link.
About RedStone
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 70+ chains and rollups, securing over $6 billion in TVL. Trusted by over 130 projects, including Morpho, Venus, Spark, Compound and Pendle, RedStone’s Push & Pull oracle models serve both established protocols and innovative DeFi projects pushing the boundaries of financial innovation.
