Blockchain oracle network RedStone has been appointed the official oracle provider for the Ink ecosystem after a rapid emergency deployment during a security incident affecting Tydro, a key lending protocol on the Kraken-incubated layer 2 network.
According to a May 15 statement, on May 4, Tydro paused all markets after its then-oracle provider, Chaos Labs, was affected by a sophisticated attack. No incorrect onchain pricing occurred and no user funds were impacted, but the event underscored the need for stronger oracle resilience.
RedStone got the call. Within 48 hours, the team had production-ready price feeds running on Ink and had cleared Tydro’s full security review. Following its swift response, the project secured a long-term partnership in the Ink ecosystem.
Ink’s rapid growth
When Kraken launched its layer 2 network in December 2024, it had under $1 million in total value locked during its first month.
