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    • TL;DR for RedStone Miners Ambassador Program
    • An interesting short Case Study:RedStone Integrates with Venus Protocol
    • An interesting short Case Study-2:RedStone Integrates with Lido
    • An interesting short Case Study-3:RedStone Integrates with Fuel to Unlock New DeFi Capabilities
    • An interesting short Case Study-4:RedStone Integrates withFortifies Premia Blue
    • An interesting short Case Study-5:RedStone Integrates Angle
    • An interesting short Case Study-6:CIAN Transforms Automation with RedStone Oracles Integration
    • An interesting short Case Study 7:RedStone Oracles ✖️ Avalanche Evergreen & Spruce Testnet
    • An interesting short Case Study-8:RedStone Oracles & Vesta Finance's
    • An interesting short Case Study-9:RedStone Oracles X Voltz
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    • RedStone X StakeWise Case Study: A Simplified Overview
    • Why did Google report wrong pice-A simplified explanation for non-tech readers
    • RedStone X Ton: An interesting short Case Study-12
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  • About Venus Protocol
  • What does Venus want for Oracles?
  • The Solutions from Redstone
  1. Articles

An interesting short Case Study:RedStone Integrates with Venus Protocol

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Last updated 1 year ago

About Venus Protocol

Venus launched in 2020 on BNB Chain. It combines features from Maker and Compound to simplify decentralized finance in one app. Venus quickly grew to a top decentralized app with $1.4 billion total value locked. It focuses on improving risk management, decentralization and user experience.

What does Venus want for Oracles?

Venus wants maximum oracle security after suffering an $11M loss. Integrating RedStone into Venus' Resilient Oracle module adds redundancy. This better protects against failures. Previously, Venus relied on Chainlink as the sole oracle. This risked catastrophic failure. RedStone adjusts its feeds for Venus' interface and handles infrastructure.

The Solutions from Redstone

RedStone discussed needs with Venus developers. RedStone Classic was chosen as the quickest integration. It extends core feeds with relayers for on-chain data.

Key features include:

  • Customizable parameters

  • Transparent data sources/methods

  • RedStone handles infrastructure The proposal passed voting with 100% approval. RedStone launched monitoring and an on-chain relayer.

The integration allows Venus to easily use RedStone's feeds for assets like stablecoins and real-world assets. This enhances flexibility and security. Together, RedStone and Venus will keep pushing the boundaries of decentralized finance.