DogeOS taps RedStone to provide oracle data for Dogecoin DeFi applications

RedStone will provide price feeds to DogeOS from its testnet launch under a new partnership that makes it the first oracle provider in the Dogecoin ecosystem, the company said Monday. The integration is expected to help developers build decentralized financial applications, including lending markets, stablecoins and perpetual futures, for Dogecoin’s community. Developed by the team behind MyDoge, DogeOS aims to bring smart-contract functionality to the Dogecoin ecosystem through an Ethereum-compatible application layer built using a zero-knowledge virtual machine. The network is designed to support DeFi protocols, games and stablecoins without changing Dogecoin’s underlying protocol. The partnership brings RedStone’s services, which are already deployed across more than 110 blockchain networks, to an ecosystem that the companies say has 10 million holders but has had limited access to DeFi applications because of the lack of supporting infrastructure and market data. RedStone’s secure, low-latency data feeds will enable DogeOS developers to price collateral, trigger liquidations and settle trades without having to build their own oracle infrastructure, the team stated. RedStone ser...