RedStone Strategically Supporting Fluid On Gas Optimization

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Summary

This proposal recommends a strategic collaboration between Fluid and RedStone on optimizing gas consumption in price feed flow and the creation of new in-demand markets. By cooperating with RedStone, Fluid can further increase its competitiveness on existing ETH-denominated markets and ensure timely expansion like LBTC market creation, which is possible thanks to the Proof of Reserve oracle, RedStone created in collaboration with Lombard.

About RedStone

RedStone became the fastest-growing oracle in 2024. Clients relying on RedStone include leading DeFi protocols such as Morpho, Venus, Pendle, FraxLend, Euler, Silo, Gearbox, Enzyme, EtherFi, Ethena, Puffer, Renzo, Lombard and 100+ other clients. Our price feeds are available on 60+ chains including Ethereum, Base, Arbitrum, BNB Chain, Ink L2, Mode, Unichain, HyperEVM and many more. RedStone specializes in the delivery of LST, LRT, yield-bearing assets and other types of price feeds. As such RedStone was the first Oracle to support price feeds for USDe & sUSDe (Ethena) and all LRTs, namely weETH (Etherfi), ezETH & pzETH (Renzo), pufETH (Puffer), rsETH (Kelp).
RedStone is the leading BTCfi oracle as the creator of the first and the only in-market Bitcoin Proof of Reserves Oracle for Lombard LBTC and market rates for Solv, pumpBTC, mBTC and more.

RedStone’s mission is to enable DeFi protocols and dApp’s builders to reach their full potential with versatile, gas-optimized and robust price feeds delivered cross-chain. Our team consists of seasoned engineers with an average of 15+ years of dev experience and a dedicated BD & Marketing team supporting partner protocols at every step: conferences, Twitter spaces, targeted introductions, feedback on expansion strategy. Our technology has been acknowledged by the leading figures in the crypto space, we are proud to be backed by the most renowned Web3 Entrepreneurs such as Stani Kulechov (Aave), Sandeep Nailwal (Polygon), Alex Gluchovski (zkSync), Emin Gün Sirer (Avalanche), Richard Ma (Quantstamp) and many more.

RedStone’s Value Proposition To Fluid

RedStone spotted Fluid’s innovative design back in Q4 2023, before the mainnet launch. Together with Instadapp core contributors ideated back then on the gas-optimized framework for reading and utilizing data for lending transactions. Due to tight launch deadlines, the project wasn’t included in the pipeline, but the RedStone team has been supportive to Fuild’s growth ever since. We believe January 2025 with the plan to attract over $2bn in TVL is a good time for the implementation, which can proliferate the $10bn target by the end of the year.

Proposal

  1. Creating the most gas-optimized oracle flow in the entire EVM-lending ecosystem.
  2. RedStone will integrate Fluid DEX as a data source allowing for early price feeds creation for assets that have alignment with Fluid broader expansion plans.
  3. Whitelisting RedStone as a price feed provider for ETH / USD denominated markets with the highly optimized and robust feed co-designed with Fluid core contributors.
  4. Jointly working on further innovations and optimizations in the lending space.
  5. RedStone is going to cover the whole development cost of the feeds and would ask Fluid to contribute to fraction of the gas cost for pushing updates on-chain.
  6. RedStone could also support the implementation of Oracle Extractable Value (OEV) for Fluid which requires zero code changes and creates an additional revenue stream for the protocol.

Benefits

  1. RedStone will actively contribute to the Growth Plan for Fluid on technology, marketing, and business development angels to position Fluid as the most advanced lending primitive that together with DEX will spark DeFi 2.0 in 2025
  2. RedStone will create a bespoke RedStone Expedition campaign for Fluid users to receive RedStone Gems (RSG). The Fluid team will co-design rules for RSG attribution.
  3. RedStone will proactively promote Fluid as the premiere lending protocol that new chains should strive to attract with dedicated liquidity programs. Just in the last months, RedStone became the launch partner of Unichain, Ink L2, Swellchain and all the perspective chains in 2025 will be supported by RedStone including Berachain, Monad, MegaETH.

Conclusion

This proposal outlines a strategic opportunity for Fluid Protocol to onboard a dedicated and closely collaborative price feed provider. By onboarding RedStone, Fluid will gain a further competitive edge in the market with gas optimisation and a partner supporting the efficient expansion on new chains and innovations in the lending market.

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This is an exciting proposal!

Redstone has been the fastest growing oracle over the last year with having the fastest yet secure support for pricing of any new asset that comes along which includes last year’s LRTs & USDe related oracles on multiple chains.

Fluid overall is a very gas optimized protocol, liquidations are designed such that it only takes 150k gas to liquidate all positions together.

Currently, the only unoptimized thing on Fluid is oracles as it’s externally dependent and Fluid has no control over it. Current oracles cost somewhere around 50k to 150k in gas (very gas intensive).

With using custom oracles by Redstone specially designed to fit in Fluid’s need the oracle costs can be brought down to 5k to 20k (a massive improvement on gas cost). Making our liquidations way more efficient.

Overall quite excited for this. Looking to hear our community’s & user’s thought on this and what they think about using specially designed Redstone oracle as core oracles for Fluid.

One more thing I really appreciate about Redstone is they spotted Fluid being the most advance DeFi protocol back when we announced Fluid and since then we have been in constant touch. I would be more interested in working with providers/protocols who are as bullish on Fluid as our team & community is.

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