RedStone launches HyperStone oracle to support permissionless markets on Hyperliquid

ChainCatcher news, according to The Block, the decentralized oracle network RedStone has launched a dedicated data oracle called HyperStone. This oracle supports Hyperliquid's HIP-3 framework, enabling permissionless perpetual contract market creation.

This new infrastructure aims to provide developers building derivatives markets with faster and more reliable price data sources. HyperStone will serve as the data backbone for HIP-3 markets, allowing developers to launch perpetual contracts for virtually any asset, ranging from cryptocurrencies to tokenized stocks and real-world data.

RedStone stated that HyperStone has been running on the testnet for over 60 days, delivering more than 103 million data updates in ETH, BTC, and TSLA test markets. This launch is part of RedStone's broader expansion within the Hyperliquid ecosystem.

The company claims that it has secured approximately 99.5% of oracle-protected value on HyperEVM and has become the official price data provider for Hyperliquid's native stablecoin USDH.