RedStone Oracles power HyperLend lending protocol on Hyperliquid EVM

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Oh, the Intricacies of Lending: A Tale of HyperLend and RedStone! 😄

It is with no small measure of delight that we announce the union of HyperLend and the illustrious RedStone, whose modular oracle protocol now graces the lending operations with its secure and reliable price feeds. One might say, it is a match made in the digital heavens! 🌌

Indeed, the modular oracle protocol, known to the world as RedStone (RED), now lends its considerable prowess to HyperLend, the very first lending platform to be constructed upon the Hyperliquid (HYPE) Ethereum Virtual Machine. This splendid integration permits HyperLend to operate its lending platform with a degree of security and accuracy that would make even the most fastidious of traders blush with satisfaction.

HyperLend, a protocol inspired by the venerable Aave (AAVE), has been artfully adapted for the Hyperliquid ecosystem. It boasts a secure infrastructure, replete with features that are most advantageous for traders and market makers alike—real-time leverage, dynamic interest rates, and a liquidity pool so deep, one might mistake it for the ocean! 🌊 The mainnet, a term that may sound rather grand, was launched on the 24th of March, and the project has declared its intention to utilize RedStone’s oracle feeds from the very inception of its existence.

Furthermore, this integration is but the latest in a series of RedStone’s partnerships with various DeFi lending protocols, including the likes of Venus Protocol, Morpho, Fraxlend, Lombard, ZeroLend, DeltaPrime, and most recently, Spark Protocol, which made its announcement on the 11th of February. One cannot help but admire the industriousness of RedStone! 🏰

Meanwhile, the RedStone token, affectionately known as RED, has experienced a rather spirited gain of 12% in the past 24 hours, currently trading at the princely sum of $0.36. However, it must be noted that it has been on a rather unfortunate downtrend since it reached a dizzying height of $0.82 on the 16th of March, following the rollout of the DRILL program. After a brief period of consolidation around $0.50 in late March, this support level was tragically breached on the 1st of April, when RED found itself closing below the fateful $0.50 mark. A new support level has since been established around $0.30, where the price now languishes, much like a forlorn suitor awaiting a reply. 💔

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2025-04-08 11:25