RedStone is a multi-chain oracle that operates on both EVM-compatible and non-compatible chains, providing reliable data for various blockchain ecosystems.
Details of the RedStone (RED) Launchpool
Users will be able to participate in the RedStone Launchpool by locking BNB, FDUSD, or USDC to receive rewards in RED. The farming period will start on February 26, 2025, at 00:00 (UTC) and will last for two days. The total token distribution through the Launchpool will be 40,000,000 RED, representing 4% of the total supply of 1 billion RED tokens. The allocation of rewards will be distributed as follows:
BNB Pool: 32,000,000 RED (80%)
FDUSD Pool: 4,000,000 RED (10%)
USDC Pool: 4,000,000 RED (10%)
The initial circulating supply at the time of listing on Binance will be 280,000,000 RED, corresponding to 28% of the total token supply. The RED smart contract is implemented on the Ethereum network, with the address 0xc43c6bfeda065fe2c4c11765bf838789bd0bb5de. Binance
Introduction of the Price Limit Mechanism in the Pre-Market
In addition to the Launchpool, Binance is introducing a new feature in the Pre-Market: the Price Limit Mechanism. This mechanism aims to control initial price volatility by limiting the maximum trading price to a certain percentage of the opening price during the first 72 hours of trading in the Pre-Market. After this period, there will be no price restrictions, and trading will proceed normally. Binance
The details of the Price Limit Mechanism are as follows:
February 28, 2025, 10:00 (UTC) - March 1, 2025, 09:59 (UTC): maximum price limit of 200% of the initial opening price.
March 1, 2025, 10:00 (UTC) - March 2, 2025, 09:59 (UTC): maximum price limit of 300% of the initial opening price.
March 2, 2025, 10:00 (UTC) - March 3, 2025, 09:59 (UTC): maximum price limit of 400% of the initial opening price.
Starting March 3, 2025, at 10:00 (UTC), price limitations will be removed. During the Pre-Market period, there will be a maximum limit of 5,000 RED per user. The end date of the Pre-Market and the official listing on the spot market will be announced later. Binance
Final Considerations
The launch of RedStone (RED) on the Binance Launchpool offers users an opportunity to participate in an innovative project that seeks to provide oracle solutions for multiple blockchains. The introduction of the Price Limit Mechanism in the Pre-Market demonstrates Binance's commitment to promoting a more stable and secure trading environment for its users.
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