RedStone prices $170M FalconX credit vault on 3 chains

RedStone has launched price feeds for a FalconX private-credit vault holding more than $170 million in exposure across Monad, Plume and MegaETH. Summary RedStone distributes the FalconX vault’s signed NAV from Ethereum to three additional networks. AA_FalconXUSDC holders can use supported tokens as collateral without first redeeming their positions. RedStone checks updates through signature verification, deviation limits, staleness rules, and circuit breakers. Permission requirements and thin secondary liquidity could still complicate liquidations during market stress. RedStone brings FalconX credit pricing to three chains In a statement shared with crypto.news, RedStone said it had integrated its pricing infrastructure with Pareto’s Credit Vaults, starting with a FalconX vault carrying more than $170 million in private-credit exposure. Through the vault, institutional investors deposit USDC to finance part of FalconX’s prime brokerage business. Depositors receive AA_FalconXUSDC, a token representing the senior tranche of their position in the underlying credit portfolio. Interest earned by the vault accrues within the token’s net asset value, raising its redemption value over time. M11 Credit curates the product, underwrites FalconX, and monitors the credit exposure on an ongoing basis, according to the announcement. You might also like: RedStone brings instant exits to NYLIM tokenized fund RedStone reads the vault’s NAV from its Ethereum contract and publishes the value through standardized feeds on Monad, Plume and MegaETH. Lending protocols on each network can then use the feed to calculate how much a holder may borrow against AA_FalconXUSDC. Without such a feed, each protocol or network would need to establish its own connection to the source contract on Ethereum. RedStone’s system instead distributes the same valuation wherever the supported token is deployed. Holders can use AA_FalconXUSDC as collateral without redeeming it first, allowing the underlying position to continue earning interest while they borrow other assets. Actual access depends on which lending markets accept the token and the risk limits each protocol applies. “Tokenization is only the first step. What comes after is what truly matters,” RedStone co-founder Marcin Kazmierczak said in the announcement. “Pareto’s FalconX Credit Vault demonstrates how tokenized institutional credit can work in the onchain finance ecosystem beyond standard issuance.” FalconX calculates the NAV before RedStone publishes it Speaking to crypto.news, Kazmierczak said FalconX calculates and signs the AA_FalconXUSDC NAV off-chain based on the vault’s private-credit portfolio. RedStone delivers the reported value rather than independently valuing the underlying loans. Once FalconX signs an update, RedStone’s oracle nodes collect it and test it against deviation thresholds and heartbeat rules. The system publishes the NAV onchain only after it passes the required checks. Safeguards include confirmation from multiple nodes, verification of FalconX’s signature, and checks designed to reject updates that are too old. Circuit breakers can also stop publication when a reported value moves beyond preset limits.