RED

RedStone · Oracle infra (modular pull/push feeds, RWA NAV, proof of reserve)

16 /100

T5Impaired · #75 of 77

No engine yetCould move up ↑low likelihoodReviewed Oct 23, 2026

DemandSoundnessDurability

9 of 453 of 404 of 15

Key facts

SupplyFloat 55% of issued supply

Circulating 553.8M, 55%
Locked or unvested 446.2M, 45%
Max 1.00B

FDV / market cap

1.8x

$146.9M / $81.3M

Market cap

$81.3M

Price $0.147, 7d +2.8%

Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.

Assessment

RedStone has no value engine: protocols pay RedStone Labs off-chain with revenue undisclosed, staking rewards are paid in RED from allocations, and fee-denominated rewards have no date. Early backers, core contributors and team-run ecosystem and development pools received ~86%, against a 10% community airdrop and 4% Binance Launchpool. ~31.6M RED unlocks monthly (~5.7% of float) to ~Sep 2027, and feed data is signed by a 3-of-5 production signer set historically run by RedStone. Only 597M of the 1B cap is minted, and a 3-of-5 Safe can mint the other 403M at will, so vesting is enforced by trust rather than code.

How value reaches holders

Nothing reaches holders: protocols and chains pay RedStone Labs off-chain (revenue undisclosed); EigenLayer AVS staking pays rewards in RED (6-11% est.), allocation-funded, while ETH/BTC/USDC rewards 'from data users' have no date. No buyback, burn or fee switch. Only 597M of the 1B cap is minted on Ethereum, and a 3-of-5 Safe can mint the remaining 403M. ~31.6M RED unlocks monthly to ~Sep 2027, then a ~5.6M/month core tail to Feb 2029

Score anatomy

Demand

9 / 45: the stronger of two routes, plus adoption

Why would anyone hold it: does value reach the token, and is the network or product used today?

Holder routing engine input

Nothing reaches holders by design

How this is scored

Revenue reality engine input

$0.5-5M/yr, or undisclosed

How this is scored

Monetary usage engine input

Staking token; no fee payment or collateral role.

Trading onlyhigh confidenceHow this is scored

Adoption ×3

RedStone secures ~$4.0B (~6.5% share, #3 to #4), down ~51% from the Oct 2025 peak with share flat

Established: a meaningful, steady share of its categorymedium confidenceHow this is scored

Two routes, the stronger counts

Revenue 1, minus 5 for routing 0 = cash flow 0. Money use 0. The engine is the stronger route: 0.

Soundness

3 / 40

Can a long-term holder trust the rules: supply, float, distribution and control?

Supply discipline ×3

Only 597M of the 1B cap is minted and a 3-of-5 Safe can mint the other 403M (+67%) at will, so the coded cap allows growth far above 15% in a year.

Over 15%/yr, or a key, company, committee or multisig can mint without limit or redirect issuancemedium confidenceHow this is scored

Float and unlocks ×1

Float 55% (551.7M of 1B); ~31.6M RED unlocks monthly (~5.7% of float) to ~Sep 2027, next Nov 3, 2026, with vesting enforced by trust rather than code.

Over 3% of float unlocking per month, or under 30% float with ongoing linear unlockshigh confidenceHow this is scored

Distribution ×2

Early backers 31.7%, core contributors 20%, ecosystem 24.3%, protocol development 10%: ~86%; community genesis airdrop 10% and Binance Launchpool 4%

Insiders received over 50%, or one organization directs over 30% todayhigh confidenceHow this is scored

Decentralization and security ×2

Feed data is signed by a production signer set hardcoded as 3-of-5 and historically RedStone-run, and a 3-of-5 RedStone Safe owns the upgradeable Base token copy; the Ethereum token is immutable

A halt, rollback or exploited consensus bug in the last 24 months, attack cost under $10M, or a foundation-selected validator set or small multisig can halt or upgrade with no meaningful exit windowmedium confidenceHow this is scored

Durability

4 / 15

Is it big, proven and reachable by institutions?

Scale ×1

$77.4M market cap (band 2), $3.1M/day median volume (band 2), no flags.

Small: $50-250M market cap and $1M/day+How this is scored

Track record ×1

TGE Feb 27, 2025: 1.65 years old.

1-3 yearshigh confidenceHow this is scored

Institutional access ×1

Spot on Binance (since Feb 2025) and other majors; no ETP found.

Top-tier exchanges only, or delisting pressuremedium confidenceHow this is scored

What would move it up

To reach T4 Speculative, one gate is still open:

Supply 0needs 1(open)

Tier outlook

Could move up ↑low likelihood

Supply rises if the remaining 403M RED is minted into code-enforced vesting or the Safe's mint power is removed
Routing rises only if fee-denominated (ETH/USDC) staking rewards are paid on-chain from data-user fees
Revenue: any disclosed RedStone Labs revenue figure
Security: who holds the 3-of-5 production data-signer keys
Overhang: ~31.6M RED a month (~5.7% of float) to ~Sep 2027, next Nov 3, 2026

Research report

Oct 14, 2026 · source confidence 75%

RedStone is a modular oracle network that delivers price, net-asset-value and proof-of-reserve data to lending markets, tokenized funds and new chains, including the Securitize funds, Morpho, Pendle and Spark. DefiLlama attributes about $4 billion of secured value to it, roughly 6.5% of the tracked oracle market, below its October 2025 peak and with a stable share since. The RED token has a hard cap of one billion, of which about 54% circulates; about 31 million tokens have entered circulation each month since April 2026, a pace expected to continue into the third quarter of 2027. Tokens not yet minted can be minted by a three-of-five multisig up to the cap. Staking rewards are currently paid in RED, and the documented design for rewards paid from data-user fees in other assets has not launched. Oracle revenue is earned by the operating company and is not disclosed, and there is no buyback or burn.

Structure (14 facts)

Chain: Ethereum (non-upgradeable RedstoneToken, 18 decimals); Base copy 0x4eb9...4960 is an upgradeable ERC-1967 proxy owned by the same Safe (~1.3M supply)
What it is: modular oracle: Core (pull, signed data in calldata), Classic (push), Bolt (low latency, MegaETH), proof of reserve, RWA NAV feeds, HyperStone (Hyperliquid HIP-3), Atom (liquidation OEV auctions), Credora ratings (acquired 2025-09); RED staking via an EigenLayer AVS
TGE: 2025-03-06 at ~$900M FDV with a 28% initial float; Binance Launchpool (4%); airdrop cut from 9.5% to 5% before TGE, partly restored after a Binance listing dispute
Max supply: 1,000,000,000
Minted on ethereum: 597,000,000
Circulating supply (approx): 542,000,000
Market cap (approx): $84,000,000
Allocation: Early backers: 31.7%
Ecosystem data providers: 24.3%
Core contributors: 20%
Community genesis: 10%
Protocol development: 10%
Binance launchpool: 4%
Unlocks: circulating flat at ~280M until Mar 2026, then ~31M RED/month every month (CoinGecko series), matching an 18-month investor + 36-month core linear schedule after 12-month cliffs (~31.6M/month, on the 3rd); ~10 more such tranches add ~316M (+58% float) to ~Sep 2027, then a ~5.6M/month core tail to ~Feb 2029. Unofficial: one source implies 12-month investor vesting (~40.9M/month to ~Feb 2027)
Mint authority: only 597M of the 1B cap is minted; mint() is gated by a minter role held by a 3-of-5 Gnosis Safe (0x5754e3ef8c88ec7a5ddc0eed1803da1c991ab397, one owner is the RedStone deployer EOA) that can mint the remaining ~403M at will up to the cap; the vesting schedule is not enforced at the mint layer
Value accrual: None to holders. Protocols and chains pay RedStone Labs off-chain (revenue undisclosed; one outlet estimate ~$9M/yr). Staking rewards are paid in RED (6-11% est.), funded from allocations; rewards in ETH/BTC/SOL/USDC "from data users" are described as future with no date. No buyback, no burn function, no fee switch
Adoption: DefiLlama TVS ~$3.97B (2026-10-13), ~6.5% share, #3-4 behind Chainlink (~60%) and Chronicle, level with Pyth; peak $8.1B on 2025-10-09, share flat at 6-7% since. SparkLend is ~44% of tracked TVS (one of three sources in a median). Vendor claims $9B+ including untracked Pendle PT, Morpho and Ethena-collateral feeds. Securitize primary oracle (BlackRock BUIDL NAV on 6 networks, Apollo ACRED), Morpho, Pendle, Lombard PoR, Venus, Canton, Ink, MegaETH
Risks: production signer set hardcoded as 3-of-5 in PrimaryProdDataServiceConsumerBase, historically RedStone-run (vendor now claims 21+ signers); Chainlink acquired Atlas (Atom auction infrastructure) on 2026-01-22 and deprecated its RedStone deployment; connector code BUSL-1.1; no independently reported mispricing incident
Liquidity: ~$8M/day (Binance, Upbit, Bybit, Bithumb, Coinbase); monthly unlocks ~$5M at spot; 2-20% drawdowns after each unlock since Apr 2026

Market figures at report date (Oct 14, 2026)

Price (approx): $0.155
FDV (approx): $155,000,000
All-time high / low: 0.93 (2025-03-06, listing day), now -83%; ATL 0.082 (2026-08-17); -63% over 1y

Sources (10)

Compare with

How the ranking works and how RED compares: see the full ranking. This entry as JSON:

GET https://tokens.10102.io/api/v1/tokenomics?symbol=RED