RedStone Oracle Now Live on Sui, Enhancing BTCfi Ecosystem – BitRss

RedStone, a prominent cross-chain data oracle, has announced its integration with Sui, a rapidly expanding Layer 1 blockchain ecosystem. This development, announced here, brings RedStone’s reliable pricing data to Sui’s smart contracts and decentralized finance (DeFi) protocols, further bolstering the BTCfi ecosystem on Sui.

RedStone is trusted by over 140 DeFi protocols for its pricing integrity, and its integration with Sui is expected to accelerate the adoption of Bitcoin-backed DeFi. This move provides Sui users and developers with real-time, accurate price feeds for Bitcoin and other assets, unlocking new opportunities for Bitcoin holders to earn yield while ensuring seamless composability across Sui’s DeFi ecosystem.

Enhancing Bitcoin’s Financial Utility

The integration of RedStone’s oracle solutions offers several benefits to both builders and users on Sui. Firstly, it ensures reliable on-chain Bitcoin pricing, providing accurate, up-to-the-second price feeds. This improvement reduces risks for DeFi protocols and their users by enhancing accuracy.

Additionally, with liquid and precise BTC ($81,849.91) price data, platforms like Scallop, Navi, and Suilend can offer enhanced Bitcoin-based lending, borrowing, and staking products. This integration also improves collateral efficiency for lending protocols, reduces trading slippage, and enables more accurate liquidations, thereby deepening liquidity and creating more efficient markets.

Strengthening Sui’s BTCfi Ecosystem

Bitcoin has long been the most widely held digital asset, yet its practical financial utility has remained largely untapped. The rise of BTCfi, which integrates Bitcoin into DeFi, has enabled new ways for BTC holders to utilize their assets. Since announcing Bitcoin staking on Sui in December, Sui has become a core destination for the BTCfi movement.

Holders can restake their Bitcoin on Sui via SatLayer, unlocking new earning opportunities and enhancing security for DeFi applications. This seamless integration into Sui’s budding BTCfi ecosystem is further strengthened by RedStone’s integration.

Jakub Wojciechowski, Founder of RedStone, stated, “Sui is redefining smart contract security and performance, proving its power. This integration allows us to bring our high-integrity Bitcoin pricing to an ecosystem built for massive scale.” Christian Thompson, Sui Foundation Managing Director, added, “With RedStone’s onchain price integrity, Sui is primed to accelerate the next wave of BTCfi innovation, and finally transform Bitcoin into a fully functional financial asset.”

The RedStone integration follows Sui’s recent announcement of SatLayer’s Bitcoin-native infrastructure, further establishing Sui as a hub for Bitcoin-based financial innovation.

Why This Matters: Impact, Industry Trends & Expert Insights

RedStone’s integration with Sui brings reliable pricing data to Sui’s DeFi protocols, enhancing the BTCfi ecosystem by providing accurate price feeds for Bitcoin and other assets.

Recent industry reports indicate a growing focus on security and the increasing adoption of yield-bearing assets such as staking and liquid staking. This aligns with the integration of RedStone on Sui, which provides accurate pricing data crucial for secure and efficient DeFi operations.

According to a CoinTribune report, Bitcoin’s integration into DeFi is gaining momentum, driven by technical innovations and institutional interest. This supports the impact of RedStone’s integration with Sui, which aims to enhance Bitcoin’s financial utility within the DeFi ecosystem.

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