Redstone’s native token RED is pumping after a series of developments in a single day.
RedStone (RED) price has surged by 18% in the past 24 hours, trading at $0.57 with a 24-hour trading volume of $188 million, up 287%. The main catalyst for the surge seems to be the recent official announcement that RedStone has received a grant of EIGEN tokens from Eigen Foundation to be used as staking rewards.
EIGEN tokens will be periodically released to stakers in RedStone’s EigenLayer AVS, with rewards are accumulating already. According to the announcement, a snapshot will be taken soon to record who is eligible for rewards, with claim portals opening for users to claim their earned EIGEN tokens.
EIGEN incentives are LIVE
RedStone has received an $EIGEN grant from @eigenfoundation to supercharge staking incentives.
EIGEN tokens will be periodically released to stakers in RedStone's EigenLayer AVS, rewards are accumulating already.
Snapshot and claims coming soon 👀 pic.twitter.com/t5hmOTwZG0
— RedStone Oracles ♦️ (@redstone_defi) March 12, 2025
This grant further boosts incentives for staking RED by adding EIGEN rewards in addition to existing rewards in Ethereum (ETH), Bitcoin (BTC), Solana (SOL), and USD Coin (USDC), which are earned organically as yield from RedStone‘s data users who pay fees in these assets through EigenLayer AVS. So far, $1.38 million RED tokens has been staked on EigenLayer. To put it into perspective, this is more than the Total Value Locked of Eigenpie token, the native token of EigenLayer.
In addition to expanding their staking rewards through the EIGEN grant, RedStone recently announced its partnership with Securitize. Specifically, RedStone will be Securitize’s first official oracle partner, providing it with reliable and up-to-date data feeds for all present and future tokenized products, including BlackRock’s BUIDL fund.
Securitize tokenizes Real-World Assets.
RedStone connects them to DeFi and On-chain Finance.@Securitize has chosen RedStone as the first and primary blockchain oracle provider for all present and future tokenized products, including BlackRock's BUIDL fund.
Learn more 👇 pic.twitter.com/lFMYnFnXQf
— RedStone Oracles ♦️ (@redstone_defi) March 12, 2025
These two developments (the grant of EIGEN tokens for rewards and partnership with Securitize) likely contributed to the 200%+ surge in RED trading volume. Specifically, the addition of EIGEN rewards for staking RED boosts the demand for the token as it makes it more lucrative to lock it, while still making it available for DeFi actions like lending and borrowing.
We are excited to announce our collaboration with @redstone_defi to bring RED liquid staking to @eigenlayer AVS!🌐
Introducing $mRED, the liquid staking token built to support the future of $RED. ♦️
▫️ RED = RedStone's utility token.
▫️ mRED = A liquid staking version of RED… pic.twitter.com/JXeDH4fnNa
— Eigenpie (@Eigenpiexyz_io) March 6, 2025
As for the partnership with Securitize, it gives RED more credibility as Securitize is known for its compliance with regulatory standards in the security token space. Finally, RedStone was also listed on Coinbase and Bitvavo, and became the official Day 1 oracle partner for Hemi testnet and mainnet, all in one day.
One day. Five big events 👇
1. Securitize chose RedStone as the primary oracle.
2. EIGEN incentives live for RED stakers.
3. Coinbase lists RED.
4. Bitvavo lists RED.
5. Day 1 oracle partner for Hemi mainnet.And we're only getting started.
By builders, for builders.
— RedStone Oracles ♦️ (@redstone_defi) March 12, 2025
