RedStone Finance partners with the Gelato Network
RedStone Finance has announced yet another partnership in its ever-expanding list of Web3 collaborations that are sure to benefit developers and users alike, all across the blockchain space.
This time around, RedStone is partnering with the Gelato Network. Together, the dynamic duo can achieve a fusion of real-world data and on-chain automation, offering a substantial upgrade to smart contracts on many of the world’s leading blockchains.
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Let’s dive in!
Projects like @gelatonetwork & @redstone_defi play crucial role in #DeFi 🤝#Oracles bridge #blockchain and the outside world, allowing contracts to use external data to trigger their execution, and @gelatonetwork allows its automated execution.
Imagine these 2 powers combined! pic.twitter.com/1iTSDbE7et
— redstone.finance (@redstone_defi) January 23, 2023
So you may be asking what exactly the Gelato network is? The Gelato Network is essentially a decentralised network of bots that automate smart contract executions on blockchain mainnets. It is a Web3 backend that empowers builders to create augmented smart contracts that are automated, gasless, and off-chain-aware on all major EVM-compatible blockchains.
One of the main benefits of Gelato is that it allows for reliable, developer-friendly, and decentralized smart contract execution. It also allows for off-chain data to be leveraged in these smart contract executions. Additionally, Gelato’s relay service gives users access to reliable, robust, fast gasless transactions.
The supported networks for Gelato include Binance Smart Chain (BNB), Polygon, Ethereum, Cronos, Moonbeam, Moonriver, Gnosis, Fantom, Avalanche, Arbitrum, and Optimism. This wide range of supported networks allows for a variety of use cases for Gelato, including yield farming, oracles, algo-stables, bridges, gaming, DeFi, DEXs, DAOs, lending, NFTs, social media, derivatives, and more.
Gelato is trusted by many leading Web3 projects, such as MakerDAO, Optimism, ZedRun, LayerZero, Pancake Swap, Connext, Beefy, and Multichain. For example, Uniswap users can use Gelato to place limit orders, automatically reinvest earned LP fees, and passively manage their LP positions. Gelato has automated over 1.46 million transactions and provided $643M TVL on Uniswap.
And now it has the support of the RedStone Finance Oracles.
RedStone Finance Oracle integration
Being powered by RedStone means that Gelato developers will now have access to fully customisable data feeds for over 1,100 assets, including cryptocurrencies, stocks, commodities, on-chain reputation, and more. Developers can also take advantage of RedStone’s custom URL feature to plug in any API and use the data in their smart contracts instantly.