In assist of a extra environment friendly and user-friendly DeFi market, HTX Ventures, the worldwide funding arm of the cryptocurrency change HTX, has introduced a strategic funding in RedStone. RedStone is without doubt one of the fastest-growing modular oracles in 2024 that delivers numerous, high-frequency knowledge feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and past, together with Starknet, Gas Community, and TON.
RedStone’s modular nature allows it to offer knowledge feeds which can be unavailable elsewhere, specializing in yield-bearing collateral for lending markets, particularly LSTs and LRTs. Its modular pricing engine ensures the very best accuracy and relevance by persistently updating. Furthermore, RedStone is chain-agnostic, that means it could possibly push knowledge to quite a few EVM and non-EVM ecosystems, rollups, and varied app chains. This makes it a really perfect associate for Rollup-as-a-Service suppliers and Eigenlayer AVSes. At present, RedStone’s Whole Worth Secured (TVS) has grown to $4 billion, expanded to over 60 chains, and served greater than 100 purchasers resembling EtherFi, Pendle, Morpho and Ethena.
RedStone lately closed its $15 million Sequence A spherical, led by Arrington Capital. The funds will probably be used to develop the Advertising and Enterprise Growth divisions, fueling an in depth Q3/This autumn progress pipeline. RedStone is at the moment testing Oracle Extractable Worth (OEV) implementation, scheduled for trial with prospects within the coming months, and making ready for the launch of its native token later this yr.
“RedStone is introducing an exciting advancement to DeFi with its modular design,” mentioned Edward, Managing Associate at HTX Ventures. “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.”
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