Key Points
- RedStone has launched Bitcoin-specific oracles for staking, now available on the Lombard staking platform.
- The company plans to expand these Bitcoin-focused oracles to other platforms in the future.
RedStone, a provider of blockchain oracle services, has introduced oracles designed specifically for Bitcoin staking. These new oracles are now accessible on the Lombard staking platform.
The Switzerland-based firm’s oracles are developed to provide real-time data for Bitcoin staking. This allows users to stake their Bitcoin and receive Liquid Staking Tokens on the Ethereum blockchain.
Oracles Live on Lombard
The new solution is already operational on Lombard, a restaking protocol managing over $500 million in total value locked. These oracles are engineered to monitor and report essential metrics such as staked Bitcoin amounts, LST issuance, and net asset value calculations.
Future Expansion of Bitcoin-Focused Oracles
RedStone aims to incorporate its Bitcoin-specific oracles into more platforms, including pumpBTC and Solv. In the upcoming months, the company plans to extend its reach to Arbitrum, Base, and BNB Chain. Jakub Wojciechowski, RedStone’s CEO, stated that the latest solution will equip Lombard with the necessary infrastructure to bridge Bitcoin and DeFi seamlessly.
RedStone has a history in blockchain oracle services, having previously launched similar products across various blockchain networks, including Ethereum and The Open Network. The company, established in 2021, secured $15 million in Series A funding led by Arrington Capital. Other investors include HTX Ventures, Amber Group, and Spartan.