DeFi • April 8, 2025, 9:31AM EDT
UPDATED: April 8, 2025, 5:03PM EDT
Quick Take
- The RedStone development team has deployed its latest product on the MegaETH testnet, claiming that RedStone Bolt is the only oracle capable of supporting protocols on that real-time blockchain.
- Bolt is a “push” oracle designed to publish onchain price updates “every 2.4 milliseconds.”
RedStone, the oracle development team, is the latest project to deploy on MegaETH, the buzzy Ethereum Layer 2, bucking the traditional rollup trend. The move follows shortly after MegaETH launched its public testnet, the last step before deploying its much-anticipated mainnet. “As MegaETH scales toward 100,000 TPS and sub-millisecond latency, RedStone is the only oracle fast enough — and flexible enough — to keep up,” the team wrote in a statement, noting the oracle service can push out price updates “every 2.4 milliseconds.” Oracles are a key component of the blockchain ecosystem. They are purpose-built systems that feed off-chain information, including prices and other data, to onchain smart contracts. RedStone’s latest oracle system, RedStone Bolt, was designed through a partnership with MegaETH. Bolt is said to be “the first and only ultra-fast, sub-second, push oracle.” Unlike "pull oracles,” which require specific smart contracts to actively request data from an oracle as needed, push oracles proactively "push" data to the blockchain without being prompted. RedStone Bolt will feature “plug-and-play” capabilities to integrate with “protocols built for traditional push feeds” like DeFi giants Compound, Morpho, Spark, Venus, Euler, Fluid and Aave, RedStone co-founder Marcin Kazmierczak said in a statement. Last month, institutional tokenization firm Securitize tapped RedStone as its primary data provider for current and future products issued by the likes of Apollo, BlackRock, Hamilton Lane and KKR, enabling those institutional funds to deploy deeper into DeFi. RedStone, which raised $15 million in Series A funding from Arrington Capital, Kraken Ventures and others, powers protocols on Ethereum, Avalanche, Polygon and 70 other chains. MegaETH is looking to become a “monolithic” scalability solution for Ethereum by tapping alternative data availability solutions like EigenLayer and using bespoke sequencers that operate in parallel. The project testnet achieved 20,000 TPS on its first day and hopes to quadruple that. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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AUTHOR
Daniel Kuhn
Daniel Kuhn is a Senior Journalist and Editor at The Block, where he covers the crypto industry with a particular focus on tech. He previously served as deputy managing editor of opinion/features at CoinDesk. He first appeared in print in Financial Planning, a trade publication magazine. Before journalism, he studied philosophy as an undergrad, English literature in graduate school and business and economic reporting at an NYU professional program. You can connect with him on Twitter and Telegram @danielgkuhn or find him on Urbit as ~dorrys-lonreb.
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To contact the editor of this story: Lawrence Lewitinn at [emailprotected]
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