Oracle provider RedStone has launched price feed infrastructure on the Stellar network. The deployment aims to support decentralized finance applications by providing data for major crypto assets and stablecoins, adding to the network’s financial toolkit following recent security incidents involving oracle manipulation.
Oracle provider RedStone has launched its price feed infrastructure on the Stellar network, introducing a new data layer for decentralized finance applications on a blockchain historically focused on payments. The deployment makes price feeds for major crypto assets and stablecoins available on Stellar, including Bitcoin, Ether, USD Coin, and PayPal USD.
The feeds are designed to support financial applications like lending markets and decentralized exchanges building on Stellar. “Stellar has long demonstrated its strength as a blockchain for real-world financial activity, particularly in payments and stablecoins,” said RedStone co-founder Marcin Kazmierczak.
The launch comes weeks after a DeFi exploit on Stellar highlighted risks tied to price feeds. Attackers drained roughly $10 million from a YieldBlox DAO-managed lending pool after manipulating the price of the USTRY token used as collateral. A security analysis by blockchain security firm BlockSec found the exploit was possible because the protocol relied on a price derived from a thin market.
A RedStone spokesperson stated that the February exploit was only possible because an oracle was deriving a price from a market with less than one dollar in hourly trading volume. The company claims its new feeds use deviation-based updates and freshness checks to ensure data accuracy for financial applications. The rollout adds a new infrastructure provider to Stellar’s emerging DeFi stack as the network expands beyond payments.
