News
RedStone Secures $15M Series A Round for Its Blockchain-Based Modular Oracle
Soon:
- Arrington Capital led the round with participation from Kraken Ventures, White Star Capital, Spartan Group, Amber Group, SevenX Ventures and IOSG Ventures.
- The company offers a blockchain oracle that provides smart contracts with real-world data on-chain.
- Its modularity ensures flexibility and scalability, while allowing integration with different blockchains.
RedStone has completed a $15 million Series A round led by Arrington Capital, with participation from Kraken Ventures, White Star Capital, Spartan Group, Amber Group, SevenX Ventures, and IOSG Ventures.
The fundraise also attracted Smokey the Bera and Homme Bera of Berachain, Mike Silagadze, Jozef Vogel and Rok Kopp of Ether.Fi, and Amir Forouzani, Jason Vranek and Christina Chen of Puffer Finance as angel investors.
The token round was structured as a simple agreement for future tokens (SAFT), RedStone founder and CEO Jakub Wojciechowski said The block.
RedStone describes itself as a blockchain oracle, which is essentially a blockchain product that provides real-world data to on-chain smart contracts. However, its product is different from others like Pyth Network and Chainlink in that it leverages modularity to bring flexibility and scalability, while the ability to replace different oracle components means it can be easily integrated with different blockchains.
“Thanks to our modular architecture, our launch on new networks is significantly faster and we can adapt our flow based on market needs, for example, with the wave of liquid resale tokens, we were the first oracle to support projects such as Ether.Fi, Renzo, Puffer and Swell,” said Wojciechowski.
RedStone is chain-agnostic and supports over 60 blockchains. The platform is also among the largest data oracles with the current total guaranteed value exceeding $1.3 billion according to DeFiLlama data.
RedStone also plans to add Berachain and Monad to the list of supported blockchains and is preparing to launch them as an actively validated service on EigenLayer.
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