RedStone has announced a strategic partnership with World Chain to provide oracle support as its RED token debuted for pre-market trading on Binance Launchpool and Bitget Pre Market.
RedStone (RED), a modular blockchain oracle provider, announced that it will be providing Word Chain with oracle support. This will ensure smart contracts on World Chain can access accurate price feeds, market data, and other information needed for DeFi apps on World Chain (WLD).
“We are thrilled to be joining forces with World Chain to bring the benefits of reliable oracles to their innovative ecosystem,” said Benoit Clazènes, CEO of RedStone. “As a human-first DeFi chain, World Chain aligns perfectly with our vision for a blockchain industry that serves people and pushes the boundaries of financial inclusion.”
Founded in 2020, RedStone is a blockchain oracle that provides real-world data to smart contracts, similar to Chainlink (LINK) and Pyth Network (PYTH). However, RedStone has a modular design, which allows for faster integration with new blockchain networks. An example of its modular advantage is its integration with The Open Network (TON) blockchain, where RedStone became the first and only oracle after a four-month integration effort. RedStone was also the first oracle to projects like Ether.Fi and Renzo during the rise of liquid restaking tokens.
Additionally, RedStone uses a pull-based model for data access. Unlike traditional oracles that constantly send data to the blockchain, which is slow and costly, smart contracts in the pull-based system request only the specific data they need when they need it, helping to lower costs and reduce network congestion.
As of now, RedStone ranks as the fourth-largest blockchain oracle, supporting 62 protocols (including Ethereum and Base) and around $6.5 billion in value, according to DefiLama. As of February, it also supports the recently launched project Berachain.
In addition to adding support for World Chain, RedStone recently launched its token RED on Binance Launchpool and Bitget Pre Market. While Binance participation is limited due to regional factors, Bitget Pre Market offers complete access, allowing anyone to trade RED early. It has also been listed on MEXC, with deposits already opened and trading beginning once liquidity requirements are met.
RED’s tokenomics are designed to foster growth and engagement across its ecosystem. 10% is dedicated to community rewards, including airdrops and early claims, another 10% supports research and development. Core contributors receive 20% of the tokens, subject to a vesting schedule. 4% is allocated for collaboration with Binance to improve accessibility to RED tokens. To stimulate ecosystem growth, 24.3% is designated for data providers, while early supporters receive the largest share at 31.7%, also governed by a vesting schedule to maintain market stability.
