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RedStone, Oracle Blockchain Project Pushes Towards Restaking, Raises $15M
RedStone, a blockchain oracle data feed provider, announced Tuesday that it has raised $15 million in a Series A round led by Arrington Capital.
The new round of capital will be used to hire new team members, according to a press release. SevenX, IOSG Ventures, Spartan Capital, White Star Capital, Kraken Ventures, Amber Group, Protagonist, gumi Cryptos, Christian Angermayer’s Samara Asset Group, and HTX Ventures participated in the round.
The announcement comes as RedStone focuses on bringing its oracles to the emerging Ethereum landscape restorationIn April, RedStone signed an agreement with Ether.fithe largest restaking service on EigenLayer, which has secured $500 million to help bring RedStone data oracles into its ecosystem.
“Restaking is one of the areas we are developing in and it is very interesting for a number of reasons,” Jakub Wojciechowski, CEO of RedStone Oracles, said in an interview with CoinDesk.
“First of all, we have a first-mover advantage,” Wojciechowski said. “A lot of LRTs (liquid restaking tokens, referring to liquid restaking protocols) have started working with us. Secondly, it’s quite a challenge technically to start providing pricing, especially for LRTs. We have a very modular and flexible design to meet that need. And from our point of view, from a business point of view, it’s a very fast, growing and attractive market.”
According to the press release, in addition to providing oracles for restking protocols, RedStone provides data feeds for Ethereum, zkSync Era, Avalanche, Base, Polygon, Linea, Celo, Optimism, Arbitrum, Fantom, BNB Chain, and Blast.