In support of a more efficient DeFi market, HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced an investment in RedStone.
RedStone is reportedly one of the “fastest-growing” modular oracles in 2024 “that delivers diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, including Starknet, Fuel Network, and TON.”
RedStone’s modular nature enables it “to provide data feeds that are unavailable elsewhere, specializing in yield-bearing collateral for lending markets, especially LSTs and LRTs.”
Its modular pricing engine ensures the highest “accuracy and relevance by consistently updating.”
Moreover, RedStone is chain-agnostic, “meaning it can push data to numerous EVM and non-EVM ecosystems, rollups, and various app chains.”
This makes it an ideal partner “for Rollup-as-a-Service providers and Eigenlayer AVSes.”
Currently, RedStone’s Total Value Secured (TVS) has grown “to $4 billion, expanded to over 60 chains, and served more than 100 clients such as EtherFi, Pendle, Morpho and Ethena.”
RedStone recently closed its $15 million Series A round, “led by Arrington Capital. The funds will be used to expand the Marketing and Business Development divisions, fueling an extensive Q3/Q4 growth pipeline.”
RedStone is currently testing Oracle Extractable Value (OEV) implementation, “scheduled for trial with customers in the coming months, and preparing for the launch of its native token later this year.”
Edward, Managing Partner at HTX Ventures said:
“RedStone is introducing an exciting advancement to DeFi with its modular design. DeFi users will benefit from new and precise data feeds, as well as push and pull data services. RedStone’s chain-agnostic feature allows it to provide services across various layers. At HTX Ventures, we are thrilled to witness new innovations within the oracle space and are eager to collaborate on building better infrastructure and tools for DeFi.”
Jakub Wojciechowski, CEO of RedStone Oracles, commented:
“This Series A round gives us ample financial runway to broaden our suite of services while bringing reliable real-world data to a host of blockchain-based protocols. Sincere thanks to our investors and community for their fervent support, and believe me when I say – we are just getting started.”
RedStone is also preparing for the upcoming launch “of Season 2 of RedStone Expedition – an interactive community engagement initiative giving participants the chance to accumulate RSG (RedStone Gems) points through a diverse array of activities. Interested parties can sign up here: RedStone Expedition.”
As noted in the update, RedStone is a modular oracle “delivering diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, i.e., Starknet, Fuel Network, or TON.”
By responding to market trends and developer needs, RedStone can “support assets not available elsewhere.”
The modular design allows for data consumption models “adjusted to specific use cases, i.e., capital-efficient LSTfi and early support of LRTs. Trusted by Pendle, Morpho, Venus, Ethena, ether.fi & more.”
