ether.fi Partners with RedStone Oracles in $500M Restaking Deal

ether.fi, a liquid restaking protocol based on EigenLayer, has finalized a $500 million restaking agreement with RedStone Oracles, a provider of blockchain data feeds.

Ether.fi Partners with RedStone: $500 Million Allocated to Secure Data Oracles

Under the agreement, ether.fi will allocate $500 million to secure RedStone's data oracles, facilitating information exchange between blockchains and external data sources.

A subset of over 20,000 node operators from ether.fi will manage RedStone's actively validated services (AVS) and utilize ether.fi's native liquid restaking token, eETH. Restaked Ether will safeguard against liveness failures and crypto-economic attacks within RedStone's network of node providers.

Ether.fi Expands Offerings: $3.8 Billion Locked in EigenLayer, $600 Million Committed to Omni AVS Network

ether.fi channels user deposits into EigenLayer, offering additional rewards and tradeable "liquid restaking tokens" representing users' investments. Currently, $3.8 billion is locked up with EigenLayer, contributing to the pooled security system.

In March, ether.fi committed $600 million to Omni, an AVS network facilitating communication between layer 2 rollups.

EigenLayer claims over $15 billion in total deposits, with core features still being developed. AVS networks like RedStone Oracles can register but will deploy onto the network later this year.

Ether.fi and RedStone Oracles Forge Alliance: Advancing Blockchain Data Security

The partnership between ether.fi and RedStone Oracles marks a significant step in securing blockchain data oracles. While ether.fi's commitments demonstrate confidence in AVS networks, the development of core features by EigenLayer remains ongoing. Investors should monitor developments closely in this evolving landscape.