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

Redstone, an Oracle Blockchain supplier, launched its native, RED token, designed to improve the safety and decentralization of its Oracle infrastructure.

The token introduces a milestone via the actively validated services of Eigenlayer, allowing users to restart red via In the house and Eigenlayer applications.

Data providers and tokens holders can accuse red to gain rewards in widely used cryptographic assets.

Oracles provides critical price data to Decentralized finance Applications, based on secure and reliable data sources. Redstone’s new jealous mechanism Improves economic securityBy taking advantage of the Eigenlayer ecosystem and integrating billions of active assets.

To encourage participation, 10% of the 1 billion red tokens will be distributed through community air parachts, by rewarding the first supporters and contributors, according to a press release sent to Crypto.News.

Redstone is expandingSecuring 6.86 billion dollars of total value guaranteed and integrating with more than 70 channels and 130 DEFI projects, notably Morpho, Pendle, Spark, Moonwell and Venus.

“The launch of the $ Red token is reinforced the decentralization of Redstone while improving the safety and reliability of the DEFI applications,” said the co-founder of Redstone, Marcin Kazimierczak.