0xTodd🟥🟨🟦
0xTodd🟥🟨🟦|Feb 13, 2025 08:02
This reminds people of the time when ChainLink was very focused on business expansion, and BD progress was particularly fast. Now RedStone also gives a similar feeling. Just a few days after the launch of the bear chain mainnet, RedStone's oracle has already been connected and has started providing feed prices for projects such as Beraborrow and Kodiak inside. Xiong Chain, as an L1 that claims to focus on liquidity, is more concerned about attracting BTC, ETH, and U deposits. And it imitates the ideas of Blast and Mantle, choosing to directly absorb various LSTs of BTC, ETH, and USDT, such as http://ether.fi ETH, solvBTC, sUSDe, and so on. The first step in attracting assets is APR, and the second step is to have a scenario. And to have a scene, a very important infrastructure is the oracle. If there is no oracle feeding price, these assets cannot enter the loan agreement inside, which is equivalent to idling. It seems that RedStone was also the first to support the pricing of various LSTs on TON. Really rolling. I have had many conversations with the project team in the past. In fact, some large projects may not like to cooperate with new chains and protocols later on, perhaps because they feel that the effort and exposure gained from the new protocol are not equal. However, in fact, collaborating with these new projects is essentially a free investment in these new public chains. If we bet on the takeoff of a new agreement, such as betting on Ordi or Hype, we can actually benefit from it, which is called mutual achievement. But anyway, with so many projects coming out every day, there are too many lying down papers and too few rolling papers, so it is still necessary to encourage the project team to roll one more paper. Previously, Coinbase also invested in RedStone to see if they have a chance to get involved in CB this time.
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