HTX Ventures, the global investment division of the cryptocurrency exchange HTX, has announced a strategic investment in RedStone, a leading modular oracle provider in 2024. RedStone offers diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, including Starknet, Fuel Network, and TON. This investment is aimed at enhancing the efficiency and user-friendliness of the DeFi market.
RedStone's modular nature allows it to provide unique data feeds, specializing in yield-bearing collateral for lending markets, particularly LSTs and LRTs. Its modular pricing engine ensures the highest accuracy and relevance by consistently updating. Being chain-agnostic, RedStone can push data to numerous EVM and non-EVM ecosystems, rollups, and various app chains, making 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 its 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.
"RedStone is introducing an exciting advancement to DeFi with its modular design," said Edward, Managing Partner 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 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.
