RedStone Integrates with Vesta Finance and Fuel
RedStone, an innovative leader in providing Web3 Oracle solutions, has recently expanded its list of collaborating projects through two new partnerships.
The first is with Vesta Finance, a Layer-2-First stablecoin protocol on Arbitrum and the second with the Fuel Network, an execution layer for the modular blockchain stack.
Vesta Finance
Particularly interesting for decentralisation is the collaboration between Vesta Finance and RedStone.
Vesta, is a renowned layer 2-first stablecoin protocol that allows users to capitalise on liquidity against their collateral, resulting in unique collateralised debt positions referred to as "vaults". Nevertheless, Vesta's growth faced a hurdle as its previous centralised oracle instilled skepticism among potential partners, hindering partnership formation.
As mentioned in RedStone's blog, Vesta's answer to this predicament came in the form of a progressive strategy - integrating with RedStone's Oracle. This alliance has allayed concerns regarding centralisation. RedStone's secure, customisable, and scalable solution perfectly aligns with Vesta's requirements, fortifying Vesta's position in the stablecoin protocol and DeFi arena.
When queried about their choice, the Vesta team asserted how RedStone's decentralised oracle solution perfectly resolved their centralisation dilemma, further simplifying the integration process.
Fuel
In a parallel development, RedStone announced its inaugural foray into the Fuel ecosystem, revealing its role as the first Oracle on Fuel.
RedStone's unique modular design, capable of broadcasting a large number of assets at a high frequency, adds significant value to Sway, Fuel Labs' Rust-based, domain specific language for writing smart contracts. The Fuel ecosystem will now be able to benefit from the fast data delivery framework that RedStone offers through their Oracle, which uses the RedStone Data Access Layer that only sends the necessary data on-chain when needed.
Fuel, which started as an optimistic rollup on mainnet Ethereum, has evolved into one of the fastest modular execution layers out there, aiming to scale Ethereum beyond the EVM. Its sophisticated offerings such as parallel transaction execution, the Fuel Virtual Machine (FuelVM), and developer tooling with Sway Language and Forc, provide an optimised developer experience.
About RedStone
RedStone is revolutionising the Oracles industry by implementing novel modular design and 3 tailor-made data consumption models. You can build the new generation of DeFi & Web3 protocols based on RedStone’s versatile data offering of long-tail, LP, LST, and Ecosystem-native tokens, as well as Real World Data and custom feeds.
