Scroll Partners with RedStone to Empower DeFi Ecosystem through Scalable, Secure Data Solutions
September 23rd, 2024

Scroll, a cutting-edge Layer 2 scaling solution for Ethereum, is excited to announce a strategic collaboration with RedStone, a modular oracle provider specializing in gas-optimized data feeds and yield-bearing collateral for decentralized finance (DeFi). This partnership aims to enhance the performance and scalability of decentralized applications (dApps) running on Scroll's zk-rollup architecture, with real-time, secure data solutions offered by RedStone's oracle services.

Scroll has been built to address Ethereum’s long-standing scalability challenges while ensuring top-notch security and decentralization. Using zero-knowledge rollups (zk-rollups), Scroll offers a significant boost in throughput by batching transactions off-chain and verifying them on-chain. This reduces gas fees and allows developers to deploy existing decentralized applications with minimal changes, ensuring a seamless Ethereum Virtual Machine (EVM) compatibility through its zkEVM.

“By leveraging RedStone's innovative oracle models, Scroll will enable dApps to operate more efficiently, providing users with reliable and secure data feeds in real time. This partnership marks a major step in scaling Ethereum's DeFi ecosystem while maintaining security and decentralization,” said [Spokesperson Name], CEO of Scroll.


A Deeper Dive into Scroll’s zkEVM and zk-Rollups

Scroll’s zkEVM is at the heart of this Ethereum Layer 2 solution, providing a seamless environment for developers to deploy dApps without needing major modifications. Its zk-rollup technology works by compressing and processing transactions off-chain and then rolling them up into batches to be verified on-chain. This drastically reduces the transaction fees (gas costs) and boosts throughput, addressing one of Ethereum’s most critical pain points—scalability.

The compatibility of Scroll’s zkEVM with existing Ethereum dApps ensures that developers can migrate their applications to Scroll without extensive redevelopment, making it an attractive solution for projects that prioritize both performance and simplicity.


How RedStone Elevates Scroll’s Ecosystem with Its Push and Pull Oracle Models

RedStone’s modular oracle infrastructure complements Scroll’s zk-rollups by providing fast, accurate, and gas-optimized data feeds for a variety of decentralized finance (DeFi) use cases. RedStone uses two primary models of data delivery—the Push Model and the Pull Model—tailored to meet the needs of dApps running on Scroll.

  • **The Push Model:**This model delivers pricing and other critical data to the blockchain at scheduled intervals, independent of specific market conditions or events. This ensures that dApps operating on Scroll have up-to-date price feeds, which are crucial for DeFi activities like lending, staking, and yield farming. The Push Model eliminates the need for manual data updates, providing developers with a streamlined solution that can also integrate with existing oracle systems, further simplifying the onboarding process.

  • **The Pull Model:**In contrast to the Push Model, RedStone’s Pull Model operates on-demand. Data is stored off-chain in RedStone's infrastructure and only pulled onto the blockchain when specifically requested by a dApp. This reduces both gas fees and latency, making it an ideal solution for applications that need real-time data without incurring the cost of constant blockchain updates. The Pull Model ensures that developers can access accurate data when necessary, without putting undue strain on the network, which is particularly beneficial in high-frequency trading, arbitrage, or similar time-sensitive applications.


RedStone’s Supported Price Feeds for the Scroll Ecosystem

As part of the collaboration, RedStone will provide comprehensive pricing data for a wide range of assets on Scroll, including major cryptocurrencies, stablecoins, liquid staking tokens (LSTs), and more. These supported price feeds ensure that DeFi dApps running on Scroll can access timely and accurate information for executing smart contracts efficiently. Key price feeds include:

  • WTBC (Wrapped Bitcoin on Scroll)

  • USDC (USD Coin)

  • USDT (Tether)

  • wstETH (Wrapped Staked Ether)

  • pufETH (Protocol Upgradable ETH)

  • weETH (Wrapped Ether)

  • STONE (RedStone's native token)

  • SolvBTC.b (Liquid yield-bearing Bitcoin)

These price feeds serve a broad spectrum of assets, ranging from major cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC) to yield-bearing collateral for the next generation of liquid Bitcoin and liquid staking tokens. By aggregating data from multiple reliable sources, RedStone ensures that price feeds are secure, reliable, and resistant to manipulation, which is essential for the success of decentralized finance protocols that rely on these data points for their operations.

The variety of supported assets demonstrates RedStone’s commitment to unlocking new possibilities for DeFi on Scroll, paving the way for more innovative dApps to be built and scaled.


About RedStone: A Leader in Modular Oracle Solutions

RedStone is a leading provider of modular oracle solutions, specializing in yield-bearing collateral such as Liquid Staking Tokens (LSTs) and Liquid Restaking Tokens (LRTs). RedStone’s oracle infrastructure is designed to offer gas-optimized data feeds across 50+ blockchain networks and rollups, making it a go-to solution for many prominent DeFi projects. Trusted by industry leaders such as Morpho, Venus, and ether.fi, RedStone is at the forefront of delivering secure, scalable, and cost-efficient data solutions that power decentralized finance ecosystems.

In this collaboration with Scroll, RedStone’s oracles will play a key role in ensuring that DeFi applications on the zk-rollup platform have the data they need to operate securely and efficiently, even in volatile market conditions.


About Scroll: Scaling Ethereum for the Future

Scroll is a Layer 2 scaling solution for Ethereum that utilizes zk-rollups to batch transactions off-chain, providing faster throughput and lower transaction fees while maintaining compatibility with the Ethereum Virtual Machine. Scroll’s zkEVM ensures developers can easily deploy and scale decentralized applications, enabling Ethereum to meet the growing demands of the global DeFi and Web3 ecosystems.

Through zkEVM and collaborations with partners like RedStone, Scroll aims to create a secure, scalable, and developer-friendly environment for decentralized applications, without compromising the core principles of decentralization and security.

This partnership between Scroll and RedStone underscores the importance of innovative oracle solutions in supporting Layer 2 scalability and DeFi growth. By addressing both data reliability and network efficiency, this collaboration sets a new benchmark for the future of decentralized finance on Ethereum.

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