I just found out that RedStone is significantly expanding its game on Stellar. Basically, they just launched their price feeds on the network, which is important because the oracle infrastructure on Stellar had been somewhat weak.

The interesting part is the context: there was recently a $10 million exploit in the Stellar DeFi ecosystem. The attackers manipulated the USTRY price and exploited the lending pool on Blend. In other words, it was a pretty strong reminder of how critical reliable price feeds are.

Now RedStone is implementing their solutions to address that. They offer feeds for Bitcoin, Ether, USD Coin, and PayPal USD on Stellar mainnet. The technology RedStone uses is based on deviation updates and freshness checks, which in theory should mitigate the risks we saw with the previous exploit.

For those not involved in this: oracles are the weak point of many DeFi applications. If you manipulate the prices, you can drain funds. RedStone is trying to make that harder with more robust verifications.

This opens the door for Stellar to have more functional lending markets and DEXs. The Stellar ecosystem has been growing, but it needed exactly this: more reliable data infrastructure. We’ll see if this gives it the push it needs.