SINGAPORE, July 2, 2024
/PRNewswire/ -- In support of a more efficient and user-friendly
DeFi market, HTX Ventures, the global investment arm
of the cryptocurrency exchange HTX, has announced a
strategic investment in RedStone. RedStone is one of the
fastest-growing modular oracles in 2024 that delivers diverse,
high-frequency data feeds to EVM Layer1, Layer2,
Rollup-as-a-Service networks, and beyond, including Starknet, Fuel
Network, and TON.
RedStone's modular nature enables it to provide data feeds that
are unavailable elsewhere, specializing in yield-bearing collateral
for lending markets, especially LSTs and LRTs. Its modular pricing
engine ensures the highest accuracy and relevance by consistently
updating. Moreover, RedStone is chain-agnostic, meaning it can push
data to numerous EVM and non-EVM ecosystems, rollups, and various
app chains. This makes 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 the 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.
About RedStone
RedStone is a modular oracle delivering diverse,
high-frequency data feeds to EVM Layer1, Layer2,
Rollup-as-a-Service networks, and beyond, i.e., Starknet, Fuel
Network, or TON. By responding to market trends and developer
needs, RedStone can support assets not available elsewhere. The
modular design allows for data consumption models adjusted to
specific use cases, i.e., capital-efficient LSTfi and early support
of LRTs. Trusted by Pendle, Morpho, Venus, Ethena, ether.fi &
more.
About HTX Ventures:
HTX Ventures, the global investment division of HTX, integrates
investment, incubation, and research to identify the best and
brightest teams worldwide. With a decade-long history as an
industry pioneer, HTX Ventures excels at identifying cutting-edge
technologies and emerging business models within the sector. To
foster growth within the blockchain ecosystem, we provide
comprehensive support to projects, including financing, resources,
and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple
blockchain sectors, with select high-quality initiatives already
trading on the HTX exchange. Furthermore, as one of the most active
Fund of Funds (FOF) investors, HTX Ventures collaboratively forges
the blockchain ecosystem alongside premier global blockchain funds,
including Dragonfly, Bankless, Gitcoin, Figment, and Animoca. Visit
us here.
Contact Details
EE
glo-media@htx-inc.com
Company
Website
https://www.htx.com/ventures
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