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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

https://www.digistore24.com/redir/325658/ceobig/
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