GLP, GMX’s multi-asset liquidity pool, supports V1 swaps and leverage trading. GLP liquidity is user-contributed. Mint and redeem GLP tokens using any index asset GMX Partners with RedStone Oracles. The overall index value, including gains and losses from open bets, divided by the GLP supply determines minting and redemption prices.

On Arbitrum, GLP token holders receive 70% of platform fees in ETH and on Avalanche, GLP token holders receive the same share of protocol fees in AVAX.

DeltaPrime leverages the growth of GMX with GLP feed

GMX, Avalanche’s primary perpetual futures platform, has experienced significant growth in TVL over the past 18 months due to its user-friendly interface and accommodating all traders and investors, regardless of risk level.

On DeltaPrime, you can use your GLP as collateral to borrow against: a significant innovation. Additionally, you can mint it straight from your Prime Account, fully cross-margin.

What are the benefits of investing in GLP through DeltaPrime?

• Deposit GLP into DeltaPrime and borrow against your GLP.
• Mint GLP against (LP-)tokens in your Prime Account.
• Farm multiplied GLP with partners like Yield Yak within your Prime Account.

RedStone provides a precise real-time valuation for GLP tokens. This enables over- and undercollateralized lending protocols such as DeltaPrime to bring their liquidity to GMX building a capital-efficient ecosystem with lower slippage in-between trades.

DeltaPrime relies on real-time price data for secure undercollateralized loans, ensuring precision and avoiding deficient debt creation. RedStone’s pricing data provides the Health Score, which advises the protocol when to liquidate user positions and return tokens to its liquidity providers. This ensures accurate representation of collateral prices and protects DeltaPrime’s liquidity providers’ funds.

The RedStone X model is designed to improve the efficiency and accuracy of oracle data feeds. This model allows for multiple data sources to be aggregated, creating a more reliable and precise price feed. It’s a robust solution that enhances the security of a new wave of super-efficient DeFi projects, ensuring safer, more dependable undercollateralized lending operations.

“Our infrastructure is adjusted to swiftly add LP tokens, hence GLP and V2 GM tokens are a perfect fit. We facilitate the growth of the ecosystem on top of GMX and keep expanding the RedStone X model, which offers almost zero latency for dApps.” said Jakub Wojciechowski, RedStone Founder & CEO.

RedStone plans to expand its oracle services to support GM tokens, the fundamental assets underpinning GMX V2. This strategic expansion aims to integrate GM tokens into DeFi applications like vaults and lending platforms.

RedStone Oracles will provide accurate, real-time valuations, enabling platforms to safely and efficiently manage their financial operations, enhancing the overall robustness and reliability of the GMX V2 ecosystem.

About GMX

GMX is a permissionless, decentralized exchange protocol that provides a capital-efficient on-chain solution for both hedging and taking leveraged exposure to leading cryptocurrencies including BTC, ETH, and AVAX.

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About RedStone

RedStone is revolutionizing the Oracles industry by implementing novel modular design and 3 tailor-made data consumption models. You can build the new generation of DeFi & Web3 protocols based on RedStone’s versatile data offering of long-tail, Lp, Ecosystem-native tokens, as well as Real World Data and custom feeds.

Website | Twitter

SOURCE: https://blog.redstone.finance/2023/06/20/gmx-to-cooperate-with-redstone-oracles-boosting-ecosystem-with-glp-and-gm-v2-lp-tokens/

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DogeChain and RedStone cooperation means protocols on this EVM-compatible chain with low transaction costs can now use their reliable Data Feeds for 1100+ assets! If you are building a data-powered dApp, look no further.

Cooperation with RedStone

As a new ecosystem, DogeChain builders are in need of reliable Data Feeds. RedStone now provides the DogeChain Community with a cutting-edge oracle solution. Builders can now access reliable Data Feeds for 1100+ assets covering cryptocurrencies, NFTs, equities, commodities, on-chain reputation, and much more. They are also ready to provide custom Data Feeds tailored to the applications’ needs.

About DogeChain

Dogechain is a L2 chain for Dogecoin. It supercharges Dogecoin to bring crypto applications like NFTs, games, and DeFi to the community. Dogechain is built on Polygon Edge, which lets the project bootstrap a new blockchain network while providing full compatibility with Ethereum smart contracts and transactions. It uses the IBFT (Istanbul Byzantine Fault Tolerant) consensus mechanism, supported by PoS. The DogeChain community stands for fairness and equality for all ecosystem builders.

Highlights of DogeChain

• Dogechain is a new blockchain entirely built and designed to be community-driven.
• Dogechain exists as a layer on top of Dogecoin. Without Dogechain, Dogecoin users cannot participate in NFTs, games, or DeFi.
• Dogechain users can use Dogecoin for gas fees. Dogechain brings utility to Dogecoin users.
• The blockchain uses POS consensus to provide cheap fees and fast transactions.
• The dogechain team is preparing to airdrop millions of DC tokens to the Dogecoin community.

Website | Twitter

About RedStone 

RedStone is a data ecosystem that delivers frequently updated, reliable and diverse data for your dApp and smart contracts. They support any chain such as Ethereum, Avalanche or Polygon, where all the Web3 & DeFi activity happens, as well as their TestNet. They also utilize the permanent and affordable storage of the Arweave chain to keep our data and track the providers’ reputations.

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SOURCE: REDSTONE BLOG

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What is Fantom?

Fantom is a high-performance, scalable, EVM-compatible and secure smart-contract platform. Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. Fantom is a leaderless, asynchronous, and byzantine fault-tolerant Layer 1 blockchain protocol. Lachesis enables Fantom to deliver fast transaction speeds, low transaction costs and deterministic finality. This is achieved while remaining permissionless, decentralized and open-source. As RedStone announced its Integration with Fantom Network.

Advantages of Fantom

• Speed – Fantom achieves transactions finality in 1 second on average.
• Scalability – Fantom can process thousands of transactions per second and can scale to hundreds of nodes.
• Security – Lachesis provides institutional-grade security to distributed networks. Fantom offers absolute finality, which means that transactions can never be reverted like in networks with probabilistic finality. Fantom is also leaderless. By removing leaders, security doesn’t rely on a small set of actors.
• Smart contract support – Fantom is fully compatible with Ethereum. Developers can create and deploy smart contracts as they would on Ethereum.
• Consensus-as-a-service – Lachesis can be used to create any kind of private and public distributed ledger, using EVM or Cosmos SDK.

The Integration

Fantom is a well-known L1, its thriving ecosystem was definitely one of the fastest growing during this cycle. Since there are a lot of innovations happening there, with a massive amount of Builders in the space choosing Fantom as a go-to solution, found it obvious to integrate with this chain to support its growth!

RedStone now provides the Fantom Community with a cutting-edge oracle solution for the applications in this thriving ecosystem. Builders can now access reliable Data Feeds for 1100+ assets covering cryptocurrencies, NFTs, equities, commodities, on-chain reputation, and much more. We are also ready to provide custom Data Feeds tailored to the applications’ needs. Non-standard data is our specialty and we enable Fantom Builders to leverage it to the fullest. All of that will enable them to create real business use cases simply not possible before due to the lack of necessary data.

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About Fantom

Fantom (FTM) is a smart contract platform for digital assets and DApps designed to overcome the limitations of the previous-generation blockchain networks facing the blockchain “trilemma.” The platform can execute multiple blocks simultaneously using its unique asynchronous byzantine fault tolerance consensus algorithm. FTM is the native utility PoS token of Fantom powering the ecosystem. It is applied for payments, network fees, staking, and governance.

­Website | Twitter

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About RedStone

RedStone looks to mitigate the presented issues faced by blockchain projects by offering flexible and affordable oracle solutions. The ecosystem has changed dramatically over the last months and current DeFi protocols require more data delivered at lower latency; RedStone offers a radically different design of Oracles catering for the needs of modern Defi protocols.

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SOURCE: REDSTONE BLOG

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