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RedStone (RED) — The 64th Launchpool Project Introduced by Binance
Pre-market trading for RED/USDT pair will be launched by Binance.
For Pre-Market, Binance also revealed an upward circuit breaker mechanism.
On its Launchpool platform, Binance today revealed its 64th project: RedStone (RED), a multi-chain oracle spanning both EVM and non-EVM networks.
Locking their BNB, FDUSD, and USDC will allow users to get RED airdrops over two days. February 26 at 00:00 (UTC) will be the start date.
Details of Red Launchpool
There will be one billion RED tokens total and maximum token supply.
Four percent of the entire supply will be forty million RED tokens, the Launchpool token awards.
At the Binance listing, 280 million RED tokens—28% of the total supply—will be initially in circulation.
First platform to list RED will also be Binance.
RED Pre-market Trading Information
The exchange formally announced that Pre-Market trading would begin on February 28 at 10:00 ( UTC).
Binance will start Pre-Market trading with a RED/USDT trading pair. Later there will be announcements of the pre-market finish time and spot listing time.
Every user's maximum holding limit will be 5,000 RED tokens.
In its remarks, the exchange also disclosed the Pre-Market's upward circuit breaker mechanism.
Upward Circuit Breaker Mechanism for Pre-Market Binance Details
To innovate and improve user trading experience on the platform, Binance adds expanded functionality for Pre-Market.
For the first 74 hours of Pre-Market trading, the forthcoming upward circuit breaker mechanism will restrict the highest trading price to a set percentage of the starting opening price. Following this, there will be no price limits; trade will resume usually.
Trialed for the upcoming RED token release, this new method will be decided upon by Binance if it will stay a continuous feature for the Pre-Market.
Rules of Upward Circuit Breakers
Binance also enumerated the main guidelines for this upcoming tool:
The maximum allowed price limit is 200% of the original starting price between February 28 at 10:00 (UTC) and March 1, at 9:59 (UTC).
The highest allowed price limit will be 300% of the starting price between March 1, at 10:00 (UTC) and March 2, at 9:59 (UTC).
The maximum allowed price limit will increase to 400% of the starting opening price between March 2, at 10:00 (UTC) and March 3, at 9:59 (UTC).
The Pre-Market will be free from further limitations after March 3, at 10:00 ( UTC).
Red Stone, or RED for short?
RedStone is a modular blockchain oracle accessible on over 70 chains, claims the official website of the project. RedStone will assist almost 1.250 assets.
The initiative covers all EVM chains and beyond as well as upcoming new chains.
RedStone supports Ethereum, the BNB Chain, Ton, optimism, Berachain, story, monad, and others so far.
The project lets one create without restrictions, under great security, and without regard to any obstacles.
Red Stone Key Characteristics
Based on its official website, RedStone has the following main characteristics:
supports quicker than rivals safe price feeds for assets.
Has the most sophisticated pricing approach of any oracle and the strongest price discovery?
enables the easily built loan, perpetual, restaking, or BTC staking systems.
supports any kind of data consumption pattern.
Scales via modular architecture with simplicity
readily implemented on any chain of EVM and non-EVM systems.
The team behind the X post for the project indicates that the basis of the Red Stone network will be the RED coin.
Red Stone will gain value when RedStone grows to guarantee hundreds of blockchains and trillion of dollars in value.
RED Transmission
Of RED, 48.3% goes toward community development.
Red float thirty percent at TGE.
Originally locked, seventy percent of RED have an unlocking over four years.
RedStone official notes: RED will be divided into five categories:
Ten percent will land in community and genesis.
Ten percent will devote themselves on protocol development.
Twenty percent will be directed to significant contributions.
28.3% will go to suppliers of ecosystems and data.
Early supporters will get 31.7% of the total.
The team's official notes state that RedStone became the fastest-growing oracle on the market in 2024 and presently handles more than 130 customers.
First launchpool from BinanceTR: $RED 🚀
RedStone (RED!) is the first Launchpool BinanceTR presents! Users may stake their BNB and begin easily acquiring RED tokens. This exclusive chance lets BinanceTR members take part in RedStone's ecosystem and be safely rewarded.
Users of staking BNB have early access to a modern oracle solution for Web3 applications: RED. The staking method is straightforward: simply put BNB into the assigned Launchpool and see how your rewards develop.
Don't miss it! Start staking right now and join BinanceTR for their first Launchpool event with $RED! 🔥
#BinanceTR #BinanceLaunchpoolRED #RED $BNB #MarketPullback
For Pre-Market, Binance also revealed an upward circuit breaker mechanism.
On its Launchpool platform, Binance today revealed its 64th project: RedStone (RED), a multi-chain oracle spanning both EVM and non-EVM networks.
Locking their BNB, FDUSD, and USDC will allow users to get RED airdrops over two days. February 26 at 00:00 (UTC) will be the start date.
Details of Red Launchpool
There will be one billion RED tokens total and maximum token supply.
Four percent of the entire supply will be forty million RED tokens, the Launchpool token awards.
At the Binance listing, 280 million RED tokens—28% of the total supply—will be initially in circulation.
First platform to list RED will also be Binance.
RED Pre-market Trading Information
The exchange formally announced that Pre-Market trading would begin on February 28 at 10:00 ( UTC).
Binance will start Pre-Market trading with a RED/USDT trading pair. Later there will be announcements of the pre-market finish time and spot listing time.
Every user's maximum holding limit will be 5,000 RED tokens.
In its remarks, the exchange also disclosed the Pre-Market's upward circuit breaker mechanism.
Upward Circuit Breaker Mechanism for Pre-Market Binance Details
To innovate and improve user trading experience on the platform, Binance adds expanded functionality for Pre-Market.
For the first 74 hours of Pre-Market trading, the forthcoming upward circuit breaker mechanism will restrict the highest trading price to a set percentage of the starting opening price. Following this, there will be no price limits; trade will resume usually.
Trialed for the upcoming RED token release, this new method will be decided upon by Binance if it will stay a continuous feature for the Pre-Market.
Rules of Upward Circuit Breakers
Binance also enumerated the main guidelines for this upcoming tool:
The maximum allowed price limit is 200% of the original starting price between February 28 at 10:00 (UTC) and March 1, at 9:59 (UTC).
The highest allowed price limit will be 300% of the starting price between March 1, at 10:00 (UTC) and March 2, at 9:59 (UTC).
The maximum allowed price limit will increase to 400% of the starting opening price between March 2, at 10:00 (UTC) and March 3, at 9:59 (UTC).
The Pre-Market will be free from further limitations after March 3, at 10:00 ( UTC).
Red Stone, or RED for short?
RedStone is a modular blockchain oracle accessible on over 70 chains, claims the official website of the project. RedStone will assist almost 1.250 assets.
The initiative covers all EVM chains and beyond as well as upcoming new chains.
RedStone supports Ethereum, the BNB Chain, Ton, optimism, Berachain, story, monad, and others so far.
The project lets one create without restrictions, under great security, and without regard to any obstacles.
Red Stone Key Characteristics
Based on its official website, RedStone has the following main characteristics:
supports quicker than rivals safe price feeds for assets.
Has the most sophisticated pricing approach of any oracle and the strongest price discovery?
enables the easily built loan, perpetual, restaking, or BTC staking systems.
supports any kind of data consumption pattern.
Scales via modular architecture with simplicity
readily implemented on any chain of EVM and non-EVM systems.
The team behind the X post for the project indicates that the basis of the Red Stone network will be the RED coin.
Red Stone will gain value when RedStone grows to guarantee hundreds of blockchains and trillion of dollars in value.
RED Transmission
Of RED, 48.3% goes toward community development.
Red float thirty percent at TGE.
Originally locked, seventy percent of RED have an unlocking over four years.
RedStone official notes: RED will be divided into five categories:
Ten percent will land in community and genesis.
Ten percent will devote themselves on protocol development.
Twenty percent will be directed to significant contributions.
28.3% will go to suppliers of ecosystems and data.
Early supporters will get 31.7% of the total.
The team's official notes state that RedStone became the fastest-growing oracle on the market in 2024 and presently handles more than 130 customers.
First launchpool from BinanceTR: $RED 🚀
RedStone (RED!) is the first Launchpool BinanceTR presents! Users may stake their BNB and begin easily acquiring RED tokens. This exclusive chance lets BinanceTR members take part in RedStone's ecosystem and be safely rewarded.
Users of staking BNB have early access to a modern oracle solution for Web3 applications: RED. The staking method is straightforward: simply put BNB into the assigned Launchpool and see how your rewards develop.
Don't miss it! Start staking right now and join BinanceTR for their first Launchpool event with $RED! 🔥
#BinanceTR #BinanceLaunchpoolRED #RED $BNB #MarketPullback
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.