RedStone launches HyperStone oracle to support the permissionless market on Hyperliquid

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

This new infrastructure aims to provide developers building derivative 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 on almost any asset, from cryptocurrencies to tokenized stocks and real-world data.

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

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