Tezos (xtz) 
RedStone Refutes Partnership Rumors with Web3Port and Whisper
The decentralized finance (DeFi) oracle RedStone has officially denied circulating rumors of partnerships with Web3 acceleration platform Web3Port and market maker Whisper. According to a statement released by RedStone, these claims are entirely false and were made without the company’s consent or knowledge.
RedStone emphasized that neither Web3Port nor Whisper has any influence on their operations or market activities. The firm demanded the removal of these inaccurate claims, although remnants of the misinformation may still persist online.
RedStone Takes a Firm Stand Against False Claims
In response to the rumors, RedStone issued a clear message via its official communication channels, stating that they do not collaborate with Web3Port or Whisper. The firm further explained that associating with these entities could potentially have negative repercussions, underscoring the importance of addressing the false information promptly.
“We want to clarify that RedStone does not work with these parties, and any partnership announcements were made without our knowledge or consent.”
RedStone’s concerns are warranted, as both Web3Port and Whisper have been linked to recent controversies involving alleged manipulation of trading volumes and price stability violations on major cryptocurrency exchanges. These controversies have raised questions about the practices of these entities, casting doubt on their credibility within the industry.
Industry Insights on Web3Port and Whisper
While Binance has not officially disclosed the identity of the market maker behind the alleged violations, industry insiders have speculated about potential connections to May Liu, a figure associated with market maker Whisper and Web3 project incubation through Web3Port. Such associations further highlight why RedStone has distanced itself from these entities.
RedStone’s Proven Partnerships for Market Making
When it comes to market-making and liquidity provision, RedStone collaborates with well-established firms that have demonstrated reliability and transparency. Notable partners include Keyrock, a trusted liquidity provider across major crypto exchanges, and Auros, a high-frequency trading firm that processes over $1.5 trillion in annual trading volume.
Both Keyrock and Auros are official partners under RedStone’s Guard Program, which enforces stringent onboarding requirements. This program includes rigorous legal checks and performance evaluations to ensure only top-tier partners are involved in RedStone’s ecosystem.
Market Update: RED Token Performance
Despite the rumors, RedStone’s native token, RED, has demonstrated strong performance in the market. The token has risen by 4% on the daily timeframe, 10% over the past week, and an impressive 74% over the last month. This indicates that the company’s proactive measures to clarify the situation may have mitigated any potential negative impact on its token’s value.
RedStone’s ability to address misinformation swiftly and maintain transparency with its community underscores its commitment to building trust in the DeFi space. Investors and enthusiasts can continue to monitor the company’s developments and token performance as it strengthens its position in the market.
