SINGAPORE, July 2, 2024 /CNW/ — In help of a extra environment friendly and user-friendly DeFi market, HTX Ventures, the worldwide funding arm of the cryptocurrency alternate HTX, has introduced a strategic funding in RedStone. RedStone is likely one of the fastest-growing modular oracles in 2024 that delivers numerous, high-frequency information 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 supply information feeds which are 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 constantly updating. Furthermore, RedStone is chain-agnostic, which means it may well push information 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. Presently, RedStone’s Whole Worth Secured (TVS) has grown to $4 billion, expanded to over 60 chains, and served greater than 100 shoppers resembling EtherFi, Pendle, Morpho and Ethena.
RedStone lately closed its $15 million Collection A spherical, led by Arrington Capital. The funds shall be used to increase the Advertising and marketing and Enterprise Improvement divisions, fueling an intensive Q3/This autumn progress pipeline. RedStone is presently testing Oracle Extractable Worth (OEV) implementation, scheduled for trial with clients within the coming months, and making ready for the launch of its native token later this 12 months.
“RedStone is introducing an exciting advancement to DeFi with its modular design,” mentioned Edward, Managing Companion 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.”
RedStone can be making ready for the upcoming launch of Season 2 of RedStone Expedition – an interactive group engagement initiative giving members the prospect to build up RSG (RedStone Gems) factors by a various array of actions. events can signal up right here: RedStone Expedition.
About RedStone
RedStone is a modular oracle delivering numerous, high-frequency information feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and past, i.e., Starknet, Gas Community, or TON. By responding to market tendencies and developer wants, RedStone can help belongings not obtainable elsewhere. The modular design permits for information consumption fashions adjusted to particular use circumstances, i.e., capital-efficient LSTfi and early help of LRTs. Trusted by Pendle, Morpho, Venus, Ethena, ether.fi & extra.
About HTX Ventures:
HTX Ventures, the worldwide funding division of HTX, integrates funding, incubation, and research to establish the perfect and brightest groups worldwide. With a decade-long historical past as an trade pioneer, HTX Ventures excels at figuring out cutting-edge applied sciences and rising enterprise fashions inside the sector. To foster progress inside the blockchain ecosystem, we offer complete help to tasks, together with financing, sources, and strategic recommendation.
HTX Ventures presently backs over 300 tasks spanning a number of blockchain sectors, with choose high-quality initiatives already buying and selling on the HTX alternate. Moreover, as one of the crucial energetic Fund of Funds (FOF) traders, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier international blockchain funds, together with Dragonfly, Bankless, Gitcoin, Figment, and Animoca. Go to us right here.
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