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Alisa Davidson
Published: March 03, 2025 at 1:57 am Updated: March 03, 2025 at 1:57 am
Edited and fact-checked:
March 03, 2025 at 1:57 am
In Brief
Sui Network has launched RedStone on its platform, aiming to introduce advanced oracle solutions to its expanding ecosystem.
Layer 1 blockchain Sui Network announced the launch of the cross-chain data oracle RedStone on its platform, aiming to introduce advanced oracle solutions to its expanding ecosystem.
RedStone is a flexible oracle network designed to provide decentralized applications (dApps) with reliable and timely financial data across multiple blockchain platforms. Supporting a wide range of over 1,250 assets—including cryptocurrencies, stocks, exchange-traded funds (ETFs), and commodities—it serves the diverse data requirements of the decentralized finance (DeFi) sector. Due to its efficient data delivery model, RedStone has been integrated by more than 130 clients across 70 different blockchain networks.
Through this integration, RedStone will offer Sui Network users and developers real-time and dependable price feeds for Bitcoin and other assets. This enhancement creates new opportunities for Bitcoin holders to generate yield while ensuring smooth interoperability within Sui Network’s growing decentralized finance (DeFi) landscape.
RedStone’s Oracle provides precise, real-time pricing data for Bitcoin assets on Sui Network, improving accuracy and minimizing risks for DeFi protocols and their users. Additionally, by delivering liquid and reliable BTC price data, platforms such as Scallop, Navi, and Suilend can optimize Bitcoin-based lending, borrowing, and staking services. Moreover, this integration strengthens BTC-focused DeFi (BTCfi) on Sui Network by supplying continuous, real-time price updates, enhancing collateral efficiency for lending protocols, reducing trading slippage, and enabling more precise liquidations.
Sui Network Strengthens Its Role As Leading Hub For Bitcoin-Powered Financial Innovation
Sui Network is built using Rust and supports smart contracts written in Sui Move, a customized version of the Move programming language developed by the project team. The network operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism, where its native token, SUI, is staked by validator operators and token holders who delegate their tokens to existing validators, contributing to network security.
Since introducing Bitcoin staking on Sui Network in December, the network has emerged as a key player in the BTCfi movement. Bitcoin holders can restake their BTC on Sui Network through SatLayer, gaining access to additional earning opportunities, improved security for decentralized finance (DeFi) applications, and seamless participation in Sui Network’s expanding BTCfi ecosystem.
The integration of RedStone follows the platform’s recent announcement of SatLayer’s Bitcoin-native infrastructure, reinforcing Sui Network’s position as a hub for Bitcoin-driven financial innovation.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
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