Securitize and RedStone Launch Pilot for Trusted Single Source Oracle
Securitize and RedStone have released a whitepaper introducing the Trusted Single Source Oracle (TSSO) model for securely verifying Net Asset Value (NAV) data on-chain, specifically for tokenized private funds. Key points include:
- TSSO addresses the challenge of proving that NAV updates from a single fund administrator are reliable and untampered.
- Traditional oracles use multiple price feeds; TSSO creates a cryptographically linked chain of NAV updates with secure digital signatures and timestamps.
- The system employs a root key for major updates and a chain key for smaller adjustments to balance security and efficiency.
- Securitize is leading the development, ensuring that each price update is connected and verifiable.
- TSSO aims to enhance trust between traditional finance and crypto infrastructure for tokenized funds.
- Securitize is piloting TSSO with clients and plans broader availability soon.
This initiative reflects the growing demand for institutional-grade DeFi infrastructure.