RedStone Integrates Price Feed Solutions Into TON Blockchain

According to Cointelegraph, RedStone, a blockchain oracle provider, has announced the integration of its price feed solutions into The Open Network (TON) blockchain. This integration will allow developers and projects on TON to access real-time and accurate asset prices, which is crucial for executing complex financial protocols. In a Q&A with Cointelegraph, Marcin Kazmierczak, the chief operating officer at RedStone, highlighted that this would be the first oracle integration on TON. He noted that the integration presents unique technical challenges compared to Ethereum-based systems due to the design of the TON blockchain. Kazmierczak explained that as the first oracle on TON, there were no examples to follow, making the process truly innovative. The technical integration with TON is more challenging than with EVM due to its dedicated sharding mechanism. Unlike other blockchains, TON relies on a technically complex message transmission system rather than smart contracts, requiring particular attention to security measures. Kazmierczak also discussed the broader implications of the oracle integration for TON’s ecosystem, emphasizing the potential for further expansion of decentralized finance (DeFi) on the network. He stated that incorporating Oracle price feeds and real-time data on TON would support its rich GameFi and social ecosystem. The opportunity to mix these areas with DeFi applications could have a multiplying effect. Looking ahead, Kazmierczak mentioned that RedStone is considering additional sectors, including the liquid staking and restaking oracle sector. On July 3, RedStone completed a $15 million Series A funding round to expand its Oracle products, exemplified by becoming the first oracle integrated with the TON blockchain. The funding round was led by Arrington Capital, with participation from other investment firms such as Spartan, SevenX, and IOSG Ventures. Michael Arrington, the founder of Arrington Capital, explained that the firm’s decision to invest in RedStone was based on the oracle provider’s ability to advance Web3 infrastructure.