Without Bitcoin staking oracles, BTC-based liquid staking tokens can be only used to provide liquidity on DEXs, according to RedStone co-founder Marcin Kaźmierczak.
RedStone Oracles, a major provider of oracle data to smart contracts, has launched Bitcoin staking oracles explicitly designed for BTC staking.
With the new implementation, users can stake their Bitcoin (BTC) in exchange for Bitcoin-based liquid staking tokens (LSTs) like Lombard Staked BTC (LBTC) on the Ethereum blockchain.
Marcin Kaźmierczak, RedStone’s co-founder and chief operating officer, announced the news to Cointelegraph on Oct. 8. He stated that this marks the first time BTC LSTs are ready for implementation in decentralized finance (DeFi) for lending and other use cases.
