Blockchain Oracle provider Redstone has launched its original tokens, Red, designed to increase the safety and decentralization of its Oracle Infrastructure.
The token introduced staking through the actively valid services of the engineer, enabled users to restore in red through the egenpie and egentar applications.
Both data provider and token holder can be red to earn prizes in the widely used crypto assets.
Oracles, dependent on safe and reliable data sources, supplies significant value data to decentralized finance applications. Redstone’s new stacking mechanism increases economic security by taking advantage of the eagenlair’s ecosystere ecosystem and integrating billions in stacked assets.
To encourage participation, according to a press release sent to Crypto.news, 10% of 1 billion red tokens will be distributed through community aircrafts, which rewards early supporters and contributors.
The Redstone is expanding, securing $ 6.86 billion in total value and integrated with more than 70 series and 130 DEFI projects, including morpho, pendall, sparks, moonwell and Venus.
“The launch of $ red tokens strengthens the decentralization of Redstone by increasing the safety and reliability for DEFI applications,” said Redstone co-founder Marsin Cazimierkzak.
