RedStone (RED) is an innovative oracle designed to provide reliable and efficient financial data for decentralized applications (dApps) across various blockchains, including EVM and non-EVM networks. Its goal is to enhance the scalability and security of decentralized oracles, which is critical for the development of the DeFi ecosystem.
Binance has announced the launch of RedStone (RED) as the 64th project on its Launchpool platform. Users will be able to stake BNB, USDC, and FDUSD to farm RED tokens for two days, starting from February 26, 2025. After the farming concludes, Binance plans to list RED on its Pre-Market platform. It is worth noting that there will be a maximum limit of 5,000 RED per trader for Pre-Market trading, and access will be restricted in several countries due to regulatory issues.
The total and maximum supply of RED tokens is 1,000,000,000, of which 4% (40,000,000 RED) will be available for Launchpool rewards.
The launch of RedStone on Binance Launchpool is an important step in strengthening the DeFi sector, providing decentralized applications with access to reliable and scalable financial data through a multi-chain oracle.
Always remember to DYOR.
The article was written using materials from Binance and coinspeaker.com
