To build a more efficient and user-friendly DeFi market, HTX Ventures, the investment arm of global cryptocurrency exchange Huobi HTX, announced a strategic investment in RedStone. RedStone is one of the fastest growing modular oracles in 2024, providing diverse, high-frequency data feeds to EVM Layer 1, Layer 2, Rollup-as-a-Service networks, including Starknet, Fuel Network and TON .
RedStone’s modular nature enables it to provide data feeds not available elsewhere, specifically on yield-collateralized assets in the lending market, especially LSTs and LRTs. Its modular pricing engine ensures the highest accuracy and relevance through continuous updates. Additionally, RedStone is chain-neutral, meaning it can push data to multiple EVM and non-EVM ecosystems, Rollups, and various application chains. This makes it an ideal partner for Rollup-as-a-Service providers and Eigenlayer AVSes. Currently, RedStone’s Total Value Locked (TVS) has grown to $4 billion, expanded to over 60 chains, and serves over 100 clients such as EtherFi, Pendle, Morpho, and Ethena.
RedStone recently closed a $15 million Series A funding round led by Arrington Capital. Funds will be used to expand marketing and business development departments to drive massive Q3/Q4 growth initiatives. RedStone is currently testing its Oracle Extractable Value (OEV) implementation, plans to conduct trials with customers in the coming months, and is preparing to launch its native token later this year.
HTX Ventures Managing Partner said: "RedStone brings exciting advancements to DeFi through its modular design. DeFi users will benefit from new and accurate data feeds, as well as push and pull data services. RedStone's chain-agnostic nature enables it to provide services across multiple layers. At HTX Ventures, we are excited to see new innovations in the oracle space and look forward to working together to build better infrastructure and tools to support DeFi."
Jakub Wojciechowski, CEO of RedStone Oracles, commented: “This Series A funding round provides us with ample financial backing to expand our service offering while bringing reliable real-world data to numerous blockchain-based protocols. We sincerely thank our investors and community for their enthusiastic support, and believe me, we are just getting started.”
RedStone is also preparing for the upcoming second season of RedStone Expedition - an interactive community engagement program where participants can accumulate RSG (RedStone Gems) points through various activities. Those interested can sign up here: RedStone Expedition.
About RedStone
RedStone is a modular oracle providing diverse, high-frequency data feeds to EVM Layer 1, Layer 2, Rollup-as-a-Service networks such as Starknet, Fuel Network, or TON. By responding to market trends and developer demand, RedStone is able to support assets not available elsewhere. Modular design allows data consumption models to be tailored to specific use cases, such as capital-efficient LSTfi and early support for LRTs. Trusted by Pendle, Morpho, Venus, Ethena, ether.fi, and more.
About HTX Ventures
HTX Ventures is the global investment arm of Huobi HTX, integrating investment, incubation and research to identify the best and most promising teams in the world. As an industry pioneer with a decade of experience in blockchain, HTX Ventures promotes the development of cutting-edge technologies and emerging business models in the industry, and provides full support for cooperative projects, including financing, resources and strategic consulting, to build a long-term blockchain ecosystem.
At present, HTX Ventures has supported more than 300 projects across multiple blockchain tracks, some of which have been listed on Huobi HTX trading. At the same time, HTX Ventures is one of the most active fund-of-funds (FOF) investors, working with Dragonfly, Bankless Ventures, Gitcoin, Figment, Animoca and other global top blockchain funds to jointly build a blockchain ecosystem.
