RedStone Launches Bitcoin Staking Oracles, Expanding Liquidity Options for BTC-based Liquid Staking Tokens

RedStone, a decentralized oracle network backed by Arrington Capital, has launched Bitcoin staking oracles, significantly expanding the utility of BTC-based liquid staking tokens beyond decentralized exchanges (DEXs).

According to RedStone co-founder Marcin Kaźmierczak, the lack of Bitcoin staking oracles previously limited the applications of BTC-based liquid staking tokens to providing liquidity on DEXs. This new development opens up a wider range of use cases, empowering users to leverage their staked Bitcoin across various DeFi protocols and platforms.

By introducing Bitcoin staking oracles, RedStone facilitates secure and reliable access to real-time staking data for DeFi applications. This enables developers to build innovative DeFi products that integrate BTC-based liquid staking tokens, unlocking new possibilities for yield generation and decentralized finance.