RED token launch strengthens RedStone’s oracle security and DeFi integration

RedStone, a blockchain oracle provider, has launched its native token, RED, designed to enhance the security and decentralization of its oracle infrastructure.

The token introduces staking through EigenLayer’s Actively Validated Services, enabling users to restake RED via EigenPie and EigenLayer applications.

Both data providers and token holders can stake RED to earn rewards in widely used crypto assets.

Oracles supply critical price data to decentralized finance…