CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
crypto.news 2025-03-06 14:14:08

RED token launch strengthens RedStone’s oracle security and DeFi integration

RedStone, a blockchain oracle provider, has launched its native token, RED, designed to enhance the security and decentralization of its oracle infrastructure. The token introduces staking through EigenLayer’s Actively Validated Services, enabling users to restake RED via EigenPie and EigenLayer applications. Both data providers and token holders can stake RED to earn rewards in widely used crypto assets. Oracles supply critical price data to decentralized finance applications, relying on secure and reliable data sources. RedStone’s new staking mechanism enhances economic security , by leveraging EigenLayer’s ecosystem and integrating billions in staked assets. You might also like: Ondo price may surge 110% as TVL hits key milestone To encourage participation, 10% of the 1 billion RED tokens will be distributed through community airdrops, rewarding early supporters and contributors, according to a press release sent to crypto.news. RedStone is expanding , securing $6.86 billion in Total Value Secured and integrating with over 70 chains and 130 DeFi projects, including Morpho, Pendle, Spark, Moonwell, and Venus. “The launch of the $RED token strengthens RedStone’s decentralization while enhancing security and reliability for DeFi applications,” said RedStone Co-Founder Marcin Kazimierczak. You might also like: Solana co-founder says no to government-run crypto reserve

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.