RedStone Raises $525K in Funding
- RedStone, a Tallin, Estonia-based decentralized finance oracle platform, raised $525K in funding
- The round was led by Maven 11 Capital, with participation from Arweave, Collider Ventures, KR1, 1kx and Bering Waters Ventures
- Led by CEO and founder Jakub Wojciechowski, the company provides a cross-chain data oracle providing pricing data for financial protocols
- It leverages the Arweave blockchain to create affordable storage with a permanent audit trail and provides an automatic dispute mechanism, backed with insurance through staking
- Today, the company supports 150 assets across three providers with oracle query interval times of up to ten seconds
- Some protocols store price data directly on transactional blockchains such as Ethereum
