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 Layer1, Layer2, Rollup-as-a-Service networks, and more, including Starknet, Fuel Network, and TON.

RedStone's modular nature enables it to provide data feeds that are not available elsewhere, particularly 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. In addition, 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 locked value (TVS) has grown to $4 billion, expanded to more than 60 chains, and serves more than 100 customers such as EtherFi, Pendle, Morpho, and Ethena.

RedStone recently completed a $15 million Series A round led by Arrington Capital. The funds will be used to expand marketing and business development departments to drive large-scale Q3/Q4 growth plans. RedStone is currently testing the implementation of Oracle Extractable Value (OEV), 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. I would like to 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 that provides diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, such as Starknet, Fuel Network, or TON. By responding to market trends and developer needs, RedStone is able to support assets that are not available elsewhere. The modular design allows data consumption models to be adjusted for specific use cases, such as capital-efficient LSTfi and early support 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 a pioneer in the blockchain industry for ten years, 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. 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 world-leading blockchain funds to jointly build a blockchain ecosystem.