Binance has announced that RedStone (RED), a multi-chain oracle platform, will be its 64th Launchpool project.
Users can stake BNB, FDUSD, or USDC starting February 26, 2025, at 9:00 AM KST to earn RED tokens over a two-day period, with a total of 40 million RED tokens available as rewards.
Staking Pools and Rewards Distribution:
BNB Pool: 32 million RED (80%)
FDUSD Pool: 4 million RED (10%)
USDC Pool: 4 million RED (10%)
Each pool has an hourly user cap: 66,666 RED for the BNB pool and 8,333 RED for both the FDUSD and USDC pools.
Additionally, Binance will list RED in the pre-market on February 28, 2025, at 7:00 PM KST, introducing a price cap mechanism to manage volatility. During the pre-market phase, users can trade RED/USDT with the following price limits:
Feb 28, 7:00 PM – Mar 1, 6:59 PM: Up to 200% of the initial price
Mar 1, 7:00 PM – Mar 2, 6:59 PM: Up to 300% of the initial price
Mar 2, 7:00 PM – Mar 3, 6:59 PM: Up to 400% of the initial price
After Mar 3, 7:00 PM: No price restrictions
During the pre-market, individual holdings are capped at 5,000 RED tokens.
RedStone aims to provide real-time data across various blockchain networks, supporting both EVM and non-EVM chains. With a total supply of 1 billion tokens, 280 million RED (28%) will be in circulation upon Binance listing.
