According to an interview with Cointelegraph, the oracle project RedStone announced that it has integrated its price information (Price Feeds) into the TON blockchain network, allowing project developers of the TON network to access the most real-time token prices.

TON oracle adoption faces challenges

RedStone Chief Operating Officer Marcin Kazmierczak pointed out that since RedStone is the first TON oracle project to be launched, there is no code example to follow, so the development team must build it from scratch.

"TON's unique sharding mechanism makes the technical integration of infrastructure more challenging than the EVM system."

Another point that is different from other blockchains is that establishing on-chain price information through TON is not just a smart contract, but also requires processing its complex message transmission system. This process relies more on the development team's rigorous design of security measures.

The impact of RedStone entering the TON ecosystem

Kazmierczak further explained that the information integration of oracles will bring different levels of impact to TON. In the DeFi ecosystem, RedStone can maintain real-time price pegs in the lending and lending market and assist in liquidation procedures under highly volatile market conditions; in addition, the adoption of oracles will also help TON’s rich GameFi social ecosystem, combining these two The combination of sectors and DeFi applications is expected to produce doubled ecological benefits.

What other oracles does TON integrate?

Last month (8/14), Pyth network, the oracle project with the highest penetration rate in the public chain, also announced that it would cooperate with the TON blockchain to provide it with high-precision, low-latency price services. However, as of now, DefiLlama has not included Pyth network’s TVS data on the TON blockchain; and according to TON official documents, developers can only integrate on-chain price information through the code provided by RedStone.

RedStone - TON oracleSource: TON.org TON blockchain’s oracle solution

At present, the TON network has adopted the DeFi protocol of RedStone oracle, and there is only one lending agreement EVAA Protocol with a lock-up value of US$32.1 million. This protocol provides capital markets for $TON, $USDT and two types of LST. The RedStone development team stated that they are working on other DeFi applications for TON, including liquidity staking and re-staking.

How is the RedStone ecosystem developing?

RedStone completed a $15 million Series A round of financing on July 2 this year, led by Arrington Capital, Amber Group, Spartan and IOSG Ventures. RedStone initially focused on providing on-chain prices for Liquid Restaking Token (LRT). Previously, RedStone's total guaranteed share in the oracle sector was not among the top ten. Now, as the amount of financing and the re-pledge track become more and more topical, its ecosystem is gradually growing.

RedStone - series A round raiseSource: CryptoRank.io RedStone Financing Status

At the time of writing, RedStone’s total guaranteed value (Total Value Secured, TVS) reached US$4.68 billion, with a sector share of 7.08%, ranking it the fifth largest oracle. It is worth noting that RedStone has integrated 56 public chain networks, second only to the 61 of the Pyth network, and is the oracle project with the second largest public chain penetration rate.

RedStone - Total Value SecuredImage source: DefiLlama RedStone total guaranteed share