RedStone has partnered with DogeOS to act as oracle provider for applications built on the Dogecoin application layer, starting with its testnet.
DogeOS, built by the team behind Dogecoin wallet MyDoge, adds an application layer to Dogecoin, which was designed for payments rather than programmable applications. RedStone’s price feeds are live from the DogeOS testnet launch, giving developers the data needed to build lending markets, stablecoins, perpetuals, and other DeFi applications for the Dogecoin ecosystem, which the companies say spans more than 10 million wallets.
Bringing price data to Dogecoin
According to the companies, Dogecoin has remained largely outside DeFi because the price data that lending markets, stablecoins, and derivatives depend on has not been available to builders in its ecosystem. RedStone’s feeds give developers on DogeOS the data needed to value collateral, trigger liquidations, and settle trades, without having to build their own oracle infrastructure. The integration extends RedStone’s infrastructure, already live on more than 110 blockchain networks, to Dogecoin.
Marcin Kaźmierczak, COO and Co-Founder of RedStone, stated that Dogecoin has a large community, but its holders have largely stayed on the sidelines of DeFi. According to Kaźmierczak, every lending market, stablecoin, and perpetuals exchange depends on price data it can trust, and having that data in place from the start allows builders to begin launching financial products for the Dogecoin community straight away.
Institutional infrastructure for a retail community
RedStone provides price feeds for digital assets, tokenised real-world assets, stablecoins, and liquid staking tokens to more than 200 clients, including Securitize, Morpho, Pendle, Spark, Ether.fi, Ethena, Lombard, Venus, and Compound. It is also the primary oracle for tokenised funds including BlackRock’s BUIDL, Apollo ACRED, and Hamilton Lane SCOPE.
Jordan Jefferson, Founder and CEO of DogeOS, stated that DogeOS aims to change Dogecoin holders’ limited participation in DeFi, and that with RedStone live from the start, builders gain access to price feeds already used across lending markets, stablecoins, and perpetuals. The integration is currently live on the DogeOS testnet, and the companies have not announced when it will move to mainnet
