RedStone, a leading provider of modular blockchain oracle solutions, has just announced its partnership with the TON blockchain. This collaboration marks a significant milestone as RedStone becomes the first oracle provider to offer data feeds on the TON blockchain.
Oracles play a crucial role in enabling smart contracts to access external data that is not available on the blockchain. This includes real-time asset prices and other important information.
By integrating RedStone’s oracle data feeds, the TON DeFi ecosystem will now have access to reliable and real-time data. This will facilitate the development of complex financial protocols and enhance the overall DeFi experience on TON.
One of the challenges of integrating with TON is its unique communication method, which involves asynchronous message transmission. To address this, RedStone has developed a robust relayer system to ensure consistent price updates and provide smart contract templates for easier integration.
Jakub Wojciechowski, the CEO of RedStone, expressed the company’s commitment to expanding its data feeds and developing new tools to support the growth of TON’s DeFi ecosystem.
“Our vision for TON extends beyond mere integration. We are dedicated to providing developers with essential tools such as smart contract templates and automatic relayers to ensure seamless data flow and uninterrupted service,” Wojciechowski stated.
“As the DeFi sector within TON continues to evolve, we will continue to enhance our data offerings to meet the growing demands, driving innovation and growth within the space,” he added.
The TON ecosystem has experienced significant growth, with the total value locked in various projects reaching $412 million as of September 19, a staggering 2,900% increase since January 1, according to DefiLlama.
Recently, TON secured a $30 million investment from Bitget and Foresight Ventures. This funding aims to boost the adoption of the tap-to-earn model and GameFi within the TON ecosystem.