RedStone (RED) denies circulating rumors of partnering with web3 acceleration platform Web3Port and market maker Whisper.

RedStone (RED) has dispelled false rumors of partnering with Web3Port and Whisper, stating that neither of these entities have influence on their market activities and have never provided services to RedStone.

Modular DeFi oracle RedStone has denied circulating rumors of partnering with web3 acceleration platform Web3Port and market maker Whisper.

RedStone (RED) has dispelled false rumors of partnering with Web3Port and Whisper, stating that neither of these entities have influence on their market activities and have never provided services to RedStone. According to RedStone’s announcement, any claims of the said partnership were false and made without their consent and knowledge. The company demanded that these false claims be removed, but some traces might still be circulating online.

Important Clarification: RedStone Does Not Work with Web3Port & Whisper.

We want to address recent rumours about alleged work with Web3Port and the market maker, Whisper.

To clarify, RedStone does not work with these parties, and any partnership announcements were…

RedStone is a modular DeFi oracle platform that provides decentralized and secure price feeds and data to smart contracts. The platform's vision is to create a seamless integration between the traditional financial world and Web3.

RedStone's modular design allows developers to select and combine the best-of-breed modules for their specific needs, while its decentralized architecture ensures that the platform is robust, reliable, and tamper-proof. The platform's native token, RED, is used for governance, staking, and to secure the network.

Web3Port is a web3 acceleration platform that provides comprehensive solutions for startups and enterprises to launch and scale their blockchain projects. The platform offers a range of services, including technical development, business consulting, community management, and ecosystem integration.

Whisper is a market maker that provides liquidity and price stability to crypto markets. The firm uses advanced algorithms and technologies to create a deep and competitive market, and it partners with exchanges and DeFi protocols to facilitate efficient and reliable trading.

In a recent post on X, Binance disclosed that it had identified and sanctioned two entities—a market maker and a project incubator—for manipulating trading volumes and committing violations of price stability rules.

While Binance did not disclose the names of the entities, an industry insider AB Kuai Dong suggested a potential connection to May Liu, who is known to run market maker Whisper and is also associated with incubating Web3 projects through Web3Port.

When it comes to market making, RedStone already uses services of other firms with proven track records. Notably, it partners with Keyrock which is known for providing liquidity across major crypto exchanges. It also partners with Auros, a high-frequency trading firm and global liquidity provider processing over $1.5 trillion in trading volume annually. Both Keyrock and Auros are official partners under RedStone’s Guard Program, which requires participants to undergo a rigorous onboarding process, including strict legal checks and performance evaluations to ensure only top-tier partners are involved.

Meanwhile, RedStone’s token RED is up by 4% on the daily timeframe, by 10% over the past week, and 74% over the last month. This suggests that the rumors didn’t affect the price of RED or the firm stepped in early enough to clarify things.