TL;DR:
- Felix became the first protocol to launch HIP-3 markets on Hyperliquid, using RedStone’s HyperStone oracle infrastructure.
- HyperStone operates with a 4-of-6 independent signer verification quorum, a standard the DeFi market is far from adopting.
- This solution processed $3.4 billion in trading volume across 15 markets with no downtime or incorrect price incidents.
The DeFi ecosystem lost over $600 million in the first four months of 2026 due to key management failures and dangerously weak multisig configurations. While the industry accumulated losses, Felix chose a different path and became the first protocol to launch perpetual markets under Hyperliquid‘s HIP-3 standard, backed by an oracle architecture designed specifically for that environment.
The attacks that occurred this year illustrate with precision a structural problem in the DeFi industry. On April 18, KelpDAO was hacked through its single DVN verifier on LayerZero, a 1-of-1 configuration that allowed attackers to mint 116,500 unbacked rsETH tokens worth $292 million.
The consequences spread to every lending protocol using rsETH as collateral: Aave recorded $10 billion in withdrawals within 48 hours and ended up with $230 million in bad debt. Drift Protocol was attacked through social engineering over six months, and its 2-of-5 multisig allowed $285 million to be drained in twelve minutes.
Resolv lost $25 million directly when a single private key stored on AWS was compromised, though the broader ecosystem damage exceeded $500 million. A Dune Analytics analysis of 2,665 active OApp contracts on LayerZero revealed that 47% still use 1-of-1 configurations, and only 5% reach thresholds of 3-of-3 or higher.
HyperStone Redefines the Security Standard
RedStone developed HyperStone as a three-layer solution built for HIP-3, Hyperliquid’s framework that enables fully permissionless perpetual market deployments. In that model, the deployer assumes full responsibility over the pricing infrastructure, which makes the oracle choice the protocol’s central security decision.
The first layer is a 4-of-6 independent signer verification quorum, with no private keys stored in the cloud. The second is the geographic colocation of infrastructure in Asia, aligned with Hyperliquid node timing so oracle updates arrive synchronized with block production. The third is a dual pricing architecture, with independent primary and fallback states, designed to cover assets such as stocks and commodities that do not trade around the clock: when traditional markets close, the system switches to alternative sources without disrupting perpetual markets.
RedStone Was Explicitly Designed to Handle These Threats
Marcin Kaźmierczak, co-founder and COO of RedStone, emphasized that this structure was explicitly designed for the threat model that has cost the industry hundreds of millions in 2026.
Since its launch, HyperStone accumulated $3.4 billion in trading volume across 15 markets, including equities such as Tesla and commodity contracts. It recorded no downtime or incorrect price incidents.
