Binance continues to expand investment options for its users by launching RedStone (RED), the 64th project in the Launchpool program. RedStone is characterized as a decentralized multi-chain oracle, operating on EVM networks such as Ethereum and Binance Smart Chain, as well as supporting non-EVM compatible networks. The project aims to provide accurate and reliable data for running smart contracts in various DeFi systems, offering solutions that ensure cost efficiency and high security.
What is RedStone? And why is it special?
1️⃣ Advanced Oracle Project
RedStone aims to provide reliable data for smart contracts across EVM and non-EVM networks, making it a key tool in building decentralized finance (DeFi) applications and Web3-related projects.
2️⃣ Cost-effective Solutions
Unlike traditional systems that require direct on-chain data storage, RedStone relies on an external storage system that allows data fetching only when needed, reducing transaction costs and improving performance.
3️⃣ High Security and True Decentralization
The project uses cryptographic techniques and data validation to ensure the accuracy of information and prevent any manipulation or exploitation. It is also integrated with numerous decentralized financial protocols, enhancing its reliability.
Participation Details in Binance Launchpool
Launchpool allows the mining of RED by locking some cryptocurrencies and earning rewards. Users can participate by depositing BNB, FDUSD, or USDC and receive RED coins as rewards.
🗓 Farming Duration:
Start: February 26, 2025, at 00:00 (UTC).
End: February 27, 2025, at 23:59 (UTC).
💰 Reward Distribution:
BNB Pool: Allocated 32 million RED (80% of total rewards).
FDUSD Pool: Allocated 4 million RED (10%).
USDC Pool: Allocated 4 million RED (10%).
After the farming period ends, rewards are automatically distributed to participants based on their contributions.
Listing RED in Binance Pre-Market
After the Launchpool phase ends, RED will be available on Binance's Pre-Market platform, giving users the chance for early trading before the official listing on the Spot Market.
📌 Pre-Market Listing Details:
Trading Start Date: February 28, 2025, at 10:00 (UTC).
Available Trading Pair: RED/USDT.
Maximum holding per user: 5000 RED.
⏳ After this phase ends, the currency will be officially listed in the Spot Market, where trading becomes more flexible.
Price Cap System: A new mechanism to limit volatility
For the first time, Binance will implement a Price Cap system on the listing of RED, which is a price ceiling aimed at reducing sharp price volatility during the early days of trading.
🔹 Price Cap Details:
From February 28 to March 1: a maximum of 200% of the opening price.
From March 1 to March 2: a maximum of 300% of the opening price.
From March 2 to March 3: a maximum of 400% of the opening price.
After March 3: all price limits will be removed, allowing free trading.
🛡 This mechanism aims to reduce sharp speculation and ensure market stability during the early days.
Overview of RedStone (RED) Economics
🔹 Total Supply: 1,000,000,000 RED.
🔹 Rewards Allocated for Launchpool: 40,000,000 RED (4% of total supply).
🔹 Circulating Supply at Listing: 280,000,000 RED (28% of total supply).
🔹 Network: Ethereum (ERC-20).
Why should you follow RedStone?
📌 If you are an investor in DeFi or interested in decentralized projects, RedStone offers new possibilities by enhancing the oracle mechanism and reducing data costs. With extensive integration across many networks and protocols, this project is expected to have a strong impact in the Web3 market.
🔥 The opportunity is now available to participate in Launchpool or trade in Pre-Market – don’t miss it! 🔥