The modular DeFi oracle RedStone has refuted recent speculation regarding a partnership with the web3 acceleration platform Web3Port and the market maker Whisper.
RedStone (RED) has dismissed unsubstantiated claims of collaboration with Web3Port and Whisper, emphasizing that neither organization influences its market operations or has ever offered services to RedStone. According to the announcement from RedStone, these alleged partnership claims are false and were made without their approval or awareness. The company requested the removal of these misleading assertions, although some remnants may still be found online.
By dispelling these falsehoods, RedStone highlights a valid reason for distancing itself from these parties, noting that any association could lead to potential negative implications, as indicated in their statement.
RedStone’s apprehensions are justified, given that both Web3Port and Whisper have been linked to recent controversies involving trading volume manipulation and price stability issues on Binance. Although Binance has not officially identified the market maker in question, an industry insider has suggested a possible connection to May Liu, known for her role at market maker Whisper and her involvement in incubating projects through Web3Port.
In terms of market making, RedStone already collaborates with other firms known for their reliability. Specifically, it works with Keyrock, which is recognized for providing liquidity across numerous major cryptocurrency exchanges. Additionally, it has a partnership with Auros, a high-frequency trading firm and global liquidity provider that handles over $1.5 trillion in trading volume each year. Both Keyrock and Auros are part of RedStone’s Guard Program, which mandates a comprehensive onboarding process that includes strict legal checks and performance assessments to ensure only top-quality partners are involved.
Meanwhile, RedStone’s token RED has risen by 4% in the past day, 10% over the last week, and an impressive 74% over the last month. This indicates that the rumors have not adversely impacted the price of RED, or the company acted swiftly enough to clarify the situation.