RedStone Launches Oracles Designed Specifically for Bitcoin (BTC) Staking

Modular oracle provider RedStone is expanding the list of its available oracles across multiple networks by introducing oracles tailored for Bitcoin (BTC) staking

Modular oracle provider RedStone has announced the launch of oracles designed specifically for Bitcoin staking.

The oracles are now available on the staking platform Lombard, and they will allow users to stake their Bitcoin and receive Liquid Staking Tokens on the Ethereum blockchain.

RedStone’s oracles are built to supply real-time data for Bitcoin staking applications, enabling users to effortlessly participate in the staking process. The oracles will track and report key metrics such as staked Bitcoin amounts, LST issuance, and net asset value calculations.

According to a press release shared with crypto.news, the solution is already live on Lombard, a restaking protocol that boasts over $500 million in total value locked. The oracles will play a crucial role in ensuring the accurate and timely reporting of critical staking data.

RedStone plans to expand its Bitcoin-focused oracles

Beyond Lombard, RedStone plans to integrate its oracles into additional platforms, including pumpBTC and Solv. In the coming months, further expansions are expected to reach Arbitrum, Base, and BNB Chain.

RedStone’s chief executive, Jakub Wojciechowski, said the latest solution will provide Lombard with the infrastructure “needed to bridge Bitcoin and DeFi seamlessly.”

This isn’t RedStone’s first foray into blockchain oracle services. The company has previously rolled out similar products across various blockchain networks, including Ethereum and The Open Network.

Founded in 2021, RedStone has raised $15 million in Series A funding, which was led by Arrington Capital. Other investors include HTX Ventures, Amber Group, and Spartan.