RedStone is a modular oracle provider that delivers frequently updated and diverse data feeds to decentralized applications (dApps). It distinguishes itself by its innovative approach to data delivery, using a "data streaming" model. This allows for cost-effective and highly scalable data provision, making it suitable for a wide range of use cases, from DeFi to gaming and beyond. RedStone focuses on providing data to smart contracts when they need it, instead of constantly pushing data on chain. This helps to reduce gas fees, and increase data availability.
The $RED token is the utility and governance token of the RedStone ecosystem. It is used to incentivize data providers, participate in governance decisions, and access premium data feeds. RedStone's goal is to create a more efficient and reliable data infrastructure for the Web3 space, enabling dApps to access high-quality data in a cost-effective manner.