#币安LaunchpoolRED is coming
Binance Launchpool RED is a token issuance activity on the Binance platform that allows users to earn token rewards from the RedStone (RED) project by staking BNB, USDC, or FDUSD. The event will start on February 26, 2025, at 0:00 UTC and end on February 27, 2025, at 23:59 UTC. Users can withdraw their staked tokens at any time while retaining RED rewards.
Event details:
Staked tokens: BNB, USDC, FDUSD
Reward distribution: A total of 40 million RED tokens (accounting for 4% of the total supply), with BNB stakers receiving 80%, and USDC and FDUSD each receiving 10%.
Hourly cap: BNB stakers can earn up to 66,666 RED per hour, and USDC/FDUSD can earn up to 8,333 RED per hour.
Pre-market trading: Starts on February 28, 2025, at 10:00 UTC, with the trading pair RED/USDT, but some countries are restricted due to regulatory issues.
Unexpected details: The event introduces an “upward circuit breaker” mechanism aimed at limiting initial volatility in the first 72 hours of trading to protect users.
Introduction to RedStone (RED) project
RedStone is a decentralized data oracle platform that provides data streams for DeFi applications, supporting both EVM and non-EVM blockchains. Its modular architecture allows for flexible expansion and employs a pull-based data model to reduce costs and improve efficiency. Since its launch in 2021, it has no records of failures or erroneous pricing, ensuring strong security.
Key data:
Total supply: 1 billion RED
Initial circulation: 280 million RED (28%) at launch
Technical highlights: Supports 60+ chains, with partners including Ether.fi, extending into the Ethereum restaking field.
Team and financing: Completed a $15 million Series A financing round in July 2024, led by Arrington Capital, with investors including SevenX, IOSG Ventures, Spartan Capital, White Star Capital, Kraken Ventures, Amber Group, Protagonist, gumi Cryptos, Christian Angermayer's Samara Asset Group, and HTX Ventures.
Use cases and potential: RedStone's data oracle provides external data for smart contracts, applicable to lending, perpetual contracts, restaking, and BTC staking protocols, enhancing the security and scalability of the DeFi ecosystem.
