{"id":164610,"date":"2024-04-12T16:21:49","date_gmt":"2024-04-12T16:21:49","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=164610"},"modified":"2024-04-12T16:21:52","modified_gmt":"2024-04-12T16:21:52","slug":"restaking-protocol-ether-fi-allocates-500m","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/restaking-protocol-ether-fi-allocates-500m\/","title":{"rendered":"Liquid Restaking Protocol Ether.fi Allocates $500M to Help Secure RedStone\u2019s Data Oracles"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TL;DR<\/span><\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">ether.fi closes $500 million deal with RedStone Oracles to support its data oracle services.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The agreement means that more than 20,000 node operators will manage RedStone&#8217;s validated services.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The native eETH token will be used to reinforce the security of the RedStone network.<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In a significant move within the <\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><a href=\"https:\/\/crypto-economy.com\/blockchain-technology\/\" target=\"_blank\" rel=\"noopener\">blockchain<\/a> ecosystem, <\/span><\/span> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">ether.fi<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, a liquid restaking protocol based on <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">EigenLayer<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">has closed a $500 million deal with <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">RedStone Oracles<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, a provider of data feeds for blockchains.<\/span><\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This <\/span><\/span><a href=\"https:\/\/blog.redstone.finance\/2024\/04\/12\/redstone-oracles-seals-500m-restaking-commitment-with-ether-fi-as-the-first-deal-for-securing-oracles-by-eigenlayers-restaking\/\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">collaboration<\/span><\/span><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> aims to strengthen <\/span><strong><span style=\"vertical-align: inherit\">RedStone<\/span><\/strong><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">&#8216;s data oracle infrastructure<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, enabling more secure and efficient information exchange <\/span><strong><span style=\"vertical-align: inherit\">between blockchains and external data sources.<\/span><\/strong><\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Honored to be able to support the <a href=\"https:\/\/twitter.com\/redstone_defi?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@redstone_defi<\/a> team! We&#39;ve been working with them since the very beginning and wouldn&#39;t be where we are today without their help.<\/p>\n<p>As always, rewards will be passed on to <a href=\"https:\/\/twitter.com\/search?q=%24eETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$eETH<\/a> stakers \ud83d\udc4d <a href=\"https:\/\/t.co\/aCc6Nly2p0\" target=\"_blank\">https:\/\/t.co\/aCc6Nly2p0<\/a><\/p>\n<p>&mdash; ether.fi (@ether_fi) <a href=\"https:\/\/twitter.com\/ether_fi\/status\/1778794162302726295?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">April 12, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Under the terms of the agreement, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">more than 20,000 node operators will work on managing RedStone&#8217;s validated services<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, known as <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">&#8220;Actively Validated Services&#8221;<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> (<\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">AVSs<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">).<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This collaborative with<\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">\u00a0<\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">RedStone Oracles<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> represents a significant milestone in strengthening<strong> the security and reliability of blockchain infrastructures.<\/strong><\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">By joining forces, not only is <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">the integrity of data on the <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">RedStone<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> network ensured, but it also <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">establishes greater resilience against potential network failures and cyber attacks.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The collaboration between <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">ether.fi<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">RedStone<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is not only limited to the allocation of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">financial resources<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, but also involves <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">deep technical and operational collaboration.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The <\/span><strong><span style=\"vertical-align: inherit\">combined <\/span><\/strong><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">experience <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">and<\/span><\/span><\/strong> <span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> knowledge of both teams allow <\/span><strong><span style=\"vertical-align: inherit\">proactive measures to be implemented<\/span><\/strong><span style=\"vertical-align: inherit\"> to mitigate risks and strengthen the robustness of the systems.<\/span><\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-82220\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/04\/eth.jpg\" alt=\"Ether.fi Allocates $500M to Help Secure RedStone Data Oracles\" width=\"825\" height=\"300\" \/><\/p>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">A prominent aspect of this partnership is the use of ether.fi\u2019s native token, eETH<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">token<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> will be used <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">as an additional layer of protection, supporting the critical operations of <\/span><\/span><\/strong><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">RedStone<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> provider nodes<\/span><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The news <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">comes at a crucial time for <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">ether.fi<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, which has been <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">experiencing significant growth<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in its user base and assets under management.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">By offering rewards to <\/span><strong><span style=\"vertical-align: inherit\">eETH <\/span><\/strong><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">stakers<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, <\/span><b><span style=\"vertical-align: inherit\">the protocol<\/span><\/b><span style=\"vertical-align: inherit\"> encourages active community participation in the maintenance and security of the network.<\/span><\/span><b><\/b><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This agreement <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">adds to a series of strategic partnerships that ether.fi has established in the validated services space,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> demonstrating its commitment to security and interoperability in the blockchain landscape.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">With a focus on <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">liquid restaking and a strong foundation in the <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">EigenLayer<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> platform, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">ether.fi<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> continues to position itself as a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">key player in the evolution of decentralized finance <\/span><\/span><a href=\"https:\/\/crypto-economy.com\/defi-decentralized-finances\/\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">(DeFi)<\/span><\/span><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and blockchain infrastructure.<\/span><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR ether.fi closes $500 million deal with RedStone Oracles to support its data oracle services. The agreement means that more than 20,000 node operators will manage RedStone&#8217;s validated services. The native eETH token will be used to reinforce the security of the RedStone network. In a significant move within the blockchain ecosystem, ether.fi, a liquid &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Liquid Restaking Protocol Ether.fi Allocates $500M to Help Secure RedStone\u2019s Data Oracles\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/restaking-protocol-ether-fi-allocates-500m\/#more-164610\" aria-label=\"More on Liquid Restaking Protocol Ether.fi Allocates $500M to Help Secure RedStone\u2019s Data Oracles\">Read more<\/a><\/p>\n","protected":false},"author":33,"featured_media":164611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,111,74],"tags":[4620,5287,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/164610"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=164610"}],"version-history":[{"count":3,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/164610\/revisions"}],"predecessor-version":[{"id":164615,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/164610\/revisions\/164615"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/164611"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=164610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=164610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=164610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}