HTX Ventures invests in RedStone Oracles to improve DeFi infrastructure
HTX Ventures invests in RedStone Oracles to improve DeFi infrastructure
HTX Ventures, the financial arm of the popular crypto exchange HTX, has recently invested in RedStone Oracles to enhance its modular DeFi infrastructure.
The investment is aimed at enhancing the modular DeFi infrastructure to address current limitations in data availability and reliability.
According to Newswire, RedStone is one of the fastest growing modular oracles in 2024, providing diverse, high-frequency information feeds to EVM Layer-1, Layer-2, RaaS networks and others, including Starknet, Gasoline Community, and TON. RedStone's modular design allows it to provide information feeds not otherwise available, specializing in high-yield collateral for the lending markets.
Currently, RedStone's Total Value Secured (TVS) has grown to $4 billion; the platform xpanded to over 60 chains, and serves more than 100 customers such as EtherFi, Pendle, Morpho, and Ethena.
"DeFi users will benefit from new and accurate data feeds, as well as push and pull data services. RedStone's chain-agnostic feature allows it to provide services across multiple tiers," said Edward Chen, Managing Partner at HTX Ventures.
Jakub Wojciechowski, CEO of RedStone Oracles, noted, "This Series A round gives us ample financial runway to expand our suite of services while providing reliable, real-world data to a variety of blockchain-based protocols."
HTX Ventures' investment in RedStone Oracles is part of a broader initiative to improve the efficiency and functionality of DeFi systems. By integrating RedStone's technology, HTX Ventures plans to provide its users with more robust and scalable DeFi solutions.
The collaboration will focus on creating a more modular infrastructure that allows different components of DeFi systems to interact more seamlessly. This approach is expected to improve the flexibility and adaptability of DeFi platforms, making them more resilient to market fluctuations and technological disruptions.
The investment is also expected to set a new standard for DeFi infrastructure. The increased modularity and data reliability is likely to attract more developers to build on these platforms, driving further innovation and growth in the DeFi sector.
HTX Ventures integrates investment, incubation and research to identify the best and brightest teams worldwide. HTX Ventures currently backs over 300 projects across multiple blockchain sectors, with select high quality initiatives already trading on the HTX exchange.
See also: Gemini partners with Real Bedford in five-year sponsorship deal
