Alisa Davidson
Revealed: March 03, 2025 at 1:57 am Up to date: March 03, 2025 at 1:57 am
Edited and fact-checked:
March 03, 2025 at 1:57 am
In Transient
Sui Community has launched RedStone on its platform, aiming to introduce superior oracle options to its increasing ecosystem.
Layer 1 blockchain Sui Community introduced the launch of the cross-chain knowledge oracle RedStone on its platform, aiming to introduce superior oracle options to its increasing ecosystem. Â
RedStone is a versatile oracle community designed to supply decentralized purposes (dApps) with dependable and well timed monetary knowledge throughout a number of blockchain platforms. Supporting a variety of over 1,250 property—together with cryptocurrencies, shares, exchange-traded funds (ETFs), and commodities—it serves the varied knowledge necessities of the decentralized finance (DeFi) sector. Because of its environment friendly knowledge supply mannequin, RedStone has been built-in by greater than 130 purchasers throughout 70 totally different blockchain networks.
By way of this integration, RedStone will provide Sui Community customers and builders real-time and reliable value feeds for Bitcoin and different property. This enhancement creates new alternatives for Bitcoin holders to generate yield whereas guaranteeing easy interoperability inside Sui Community’s rising decentralized finance (DeFi) panorama.Â
RedStone’s Oracle supplies exact, real-time pricing knowledge for Bitcoin property on Sui Community, enhancing accuracy and minimizing dangers for DeFi protocols and their customers. Moreover, by delivering liquid and dependable BTC value knowledge, platforms similar to Scallop, Navi, and Suilend can optimize Bitcoin-based lending, borrowing, and staking providers. Furthermore, this integration strengthens BTC-focused DeFi (BTCfi) on Sui Community by supplying steady, real-time value updates, enhancing collateral effectivity for lending protocols, decreasing buying and selling slippage, and enabling extra exact liquidations.
Sui Community Strengthens Its Position As Main Hub For Bitcoin-Powered Monetary Innovation
Sui Community is constructed utilizing Rust and helps good contracts written in Sui Transfer, a personalized model of the Transfer programming language developed by the undertaking workforce. The community operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism, the place its native token, SUI, is staked by validator operators and token holders who delegate their tokens to present validators, contributing to community safety. Â
Since introducing Bitcoin staking on Sui Community in December, the community has emerged as a key participant within the BTCfi motion. Bitcoin holders can restake their BTC on Sui Community by way of SatLayer, getting access to further incomes alternatives, improved safety for decentralized finance (DeFi) purposes, and seamless participation in Sui Community’s increasing BTCfi ecosystem.Â
The combination of RedStone follows the platform’s current announcement of SatLayer’s Bitcoin-native infrastructure, reinforcing Sui Community’s place as a hub for Bitcoin-driven monetary innovation.
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About The Writer
Alisa, a devoted journalist on the MPost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising tendencies and applied sciences, she delivers complete protection to tell and have interaction readers within the ever-evolving panorama of digital finance.
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Alisa Davidson
Alisa, a devoted journalist on the MPost, focuses on cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising tendencies and applied sciences, she delivers complete protection to tell and have interaction readers within the ever-evolving panorama of digital finance.
Extra articles
