Blockchain oracle supplier RedStone has introduced the launch of oracles designed particularly for Bitcoin staking.
RedStone, a modular oracle supplier, is increasing the listing of its accessible oracles throughout a number of networks by introducing oracles tailor-made for Bitcoin (BTC) staking, now accessible on the staking platform Lombard. The Switzerland-based firm’s oracles are constructed to produce real-time knowledge for Bitcoin staking, permitting customers to stake their Bitcoin and obtain Liquid Staking Tokens on the Ethereum blockchain.
Based on a press launch shared with crypto.information, the answer is already reside on Lombard, a restaking protocol managing over $500 million in whole worth locked. The oracles are designed to trace and report key metrics similar to staked Bitcoin quantities, LST issuance, and web asset worth calculations.
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RedStone plans additional growth of Bitcoin-focused oracles
Past Lombard, RedStone plans to combine its oracles into extra platforms, together with pumpBTC and Solv. Within the coming months, additional expansions are anticipated to achieve Arbitrum, Base, and BNB Chain. RedStone’s chief government, Jakub Wojciechowski, stated the newest answer will present Lombard with the infrastructure “wanted to bridge Bitcoin and DeFi seamlessly.”
This isn’t RedStone’s first enterprise into blockchain oracle companies. The corporate has beforehand rolled out comparable merchandise throughout varied blockchain networks, together with Ethereum and The Open Community. Based in 2021, RedStone raised $15 million in Collection A funding, led by Arrington Capital. Different buyers embody HTX Ventures, Amber Group, and Spartan.
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