RedStone launches Bitcoin yield strategy vault on Morph Network for Bitget's 125M+ users.
DeFi & Yields ·
RedStone, a data infrastructure provider, has launched a Bitcoin yield strategy vault in partnership with Bitget on the Morph Network, making it accessible to over 125 million Bitget and Bitget Wallet users. The vault went live on Morph, with initial APY rates set at 3% for BTC and 18% for USDC. Gauntlet, one of Morpho's largest risk curators managing 60+ vaults, built the strategy on Morpho's isolated lending markets and selected RedStone to supply the oracle layer.
The vault operates by converting deposited BTC into bgBTC (Bitget Wrapped Bitcoin) to enable use on the Morph chain as collateral. USDC is borrowed against this collateral, and Gauntlet's strategy directs the net yield back to depositors. RedStone provides the USD pricing feeds required to value collateral and execute liquidations, starting with the BTC-USD pair; a BGB feed will follow once BGB is added as a second collateral option.
The infrastructure also incorporates RedStone Atom, a mechanism designed to recapture Oracle Extractable Value—the liquidation bonuses that typically flow to liquidation bots rather than protocols or users. DeFi has reportedly lost over $500 million to this leakage to date. The path forward includes potential expansion to PayFi partners and crypto card integrations, though details remain undisclosed.