RedStone, a decentralized finance oracle platform, has secured a $350,000 angel investment round. The round was led by recognized Web3 leaders such as Emin Gün Sirer, Alex Gluchovski, Sandeep Naiwal, and Stani Kulechov. The support from these Web3 pioneers indicates a pronounced need for diverse and efficient oracle options across the industry. RedStone offers customizable data feeds, modular designs, and presence on all EVM L1 and L2 networks. The company aims to provide Web3 and DeFi protocols with actionable real-time data at lower latency. RedStone leverages an EVM-connector method, which reduces gas fees by keeping signed data packages in the RedStone Data Access Layer and delivering them according to conditions set by dApps. The company recently raised $7 million in seed funding and provides affordable and reliable data feeds delivered to over 40 chains, including Ethereum, Avalanche, Polygon, Celo, Optimism, Arbitrum, Fantom, Stacks, and EVMOS. RedStone’s successful angel funding round adds validation to its platform, which promises to disrupt the status quo oracle space. The company’s customizable data scalability layer inherits the security of the destination chain. With the recent funding, RedStone is poised to provide much-needed flexibility and choice for the industry.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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