RedStone is backed by prominent investors in blockchain, such as Stani Kulechov (founder of Aave and Lens), Sandeep Nailwal (co-founder of Polygon), Emin Gun Sirer (founder of Ava Labs), among others, adding credibility and growth potential (RedStone Website). These supports were evident in funding rounds, such as the $15 million Series A in July 2024.
Partnerships with top DeFi protocols, such as Enzyme, and trust from over 130 projects, including Morpho, Venus, Spark, Compound, and Pendle, reinforce its position in the DeFi ecosystem, with a TVL (Total Value Locked) exceeding $6 billion (RedStone Staking Blog Post).
Utility and Adoption:
RedStone supports over 70 blockchains and 1,250+ assets, including LSTs, LRTs, Bitcoin staking tokens, and memecoins, highlighting its broad utility (RedStone Website). This extensive coverage makes it a key player in providing reliable data feeds for dApps, essential for DeFi, NFTs, and DEXs.
Its modular architecture allows for easy integration of new assets and reduced latency, scaling as protocols do, and is active on both EVM and non-EVM chains, with on-demand support for new chains.
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