What is RedStone (RED)?
RedStone (RED) is a modular blockchain oracle designed to provide cross-chain data on both EVM (Ethereum Virtual Machine) and non-EVM ecosystems. With its flexible architecture, RedStone enables fast and efficient integration with multiple blockchains, offering tailored data solutions for a variety of decentralized applications (dApps).
RedStone Architecture and How it Works
RedStone uses an innovative approach by storing data on Arweave, a next-generation blockchain storage technology, to significantly reduce storage costs. This stored data is then made available to DeFi projects through a network of nodes in the form of a decentralized public cache. With EVM-Connector technology, data is only sent to the blockchain when smart contracts need it, saving gas fees and reducing latency. Each data packet is equipped with a cryptographic signature to ensure its authenticity and integrity.
Additionally, RedStone’s modular design allows for rapid integration with various blockchain networks. For example, integration with The Open Network (TON) was successfully completed in four months, although TON’s architecture makes oracle integration complicated.
RED Utility and Tokenomics
The RED token serves as the foundation of RedStone’s decentralized oracle ecosystem, supporting functions such as enhancing network security through staking, incentivizing high-quality data provision, and enabling community-based governance. Data providers and token holders can stake RED to strengthen the security of the network, with rewards given in popular assets such as ETH, BTC, SOL, and USDC.
The total supply of RED tokens is limited to 1,000,000,000 tokens, with the following distribution:
Community & Genesis (10%): Distributed via airdrops and early engagement incentives.
Protocol Development (10%): Allocated for ongoing research and development.
Core Contributors (20%): Reserved for key team members and advisors, with a strategic vesting schedule.
Ecosystem & Data Providers (28.3%): Supporting community growth through grants and incentives.
Early Backers (31.7%): Allocated to early financial and strategic backers, with a lock-up period to ensure long-term commitment.
A total of 30% of tokens will be available at the Token Generation Event (TGE) to provide immediate liquidity, while the remaining 70% will be unlocked gradually over four years to ensure market stability and encourage long-term alignment among stakeholders.
RedStone Advantages
RedStone offers several advantages over traditional oracles:
Cost Efficiency: By storing data on Arweave and sending it to the blockchain only when needed, RedStone significantly reduces gas costs.
Speed: The on-demand data delivery approach allows for lower latency, with data available within seconds.
Diversity: Supports multiple data sources, including off-chain and on-chain DEXs, aggregators, and custom URLs, covering over 1,000 assets.
Flexibility: Allows dApp developers to customize data feeds as needed, choosing data sources, update frequency, and delivery methods.
Security: Ensures data integrity and authenticity through digital signatures, encryption, and consensus algorithms.
RedStone Use Cases
RedStone can be used in a variety of DeFi applications and smart contracts that require fast and accurate data feeds, such as:
Lending and Borrowing Platform: Provides real-time market prices and volatility data for collateralized loans, interest rates, liquidations, and risk management.
Derivatives and Synthetic Assets: Provides data for complex financial instruments such as options, futures, swaps, and synthetic assets.
Decentralized Exchanges and AMMs: Providing data for price discovery, arbitrage, slippage, and liquidity management.
Oracle as a Service: Providing data for a variety of specialized use cases such as gaming, NFTs, insurance, and identity.
With its modular architecture and innovative approach, RedStone is poised to become a key player in the DeFi ecosystem, offering reliable, flexible, and efficient oracle solutions for a wide range of blockchain applications, supporting the ever-growing DeFi ecosystem.
Binance Launchpool
RedStone (RED) becomes the 64th project on Binance Launchpool. Users can lock their BNB, FDUSD, and USDC to receive the Red airdrop for two days, with farming starting at 2025-02-26 00:00 (UTC).
Detail Launchpool RED:
Nama Token: RedStone (RED)
Total and Max Token Supply: 1,000,000,000 RED
Launchpool Token Reward: 40,000,000 RED (4% of total token supply)
Initial Circulating Supply Upon Binance Listing: 280,000,000 RED (28.00% of total token supply)
Smart Contract Details / Network: Ethereum Network (0xc43c6bfeda065fe2c4c11765bf838789bd0bb5de)
Launchpool Terms and Conditions will apply. Users must complete KYC as per Binance standards.
Maximum Limit per Hour per User:
66.666 RED in BNB
8,333 RED in FDUSD pool
8.333 RED in pool USDC
Supported pools:
BNB Key (webpage will be available in about 12 hours): Reward of 32,000,000 RED (80%)
FDUSD Key (webpage will be available in about 12 hours): Reward of 4,000,000 RED (10%)
USDC Key (webpage will be available in about 12 hours): Reward of 4,000,000 RED (10%)
Farming Period: 02-26-2025 at 07.00 WIB to 02-28-2025 at 06.59 WIB
Read more about RedStone (RED) by clicking here.
How to Participate to Get Free RedStone on Binance Launchpool
Make sure you have a verified Binance account.
Deposit the asset you wish to stake (BNB, USDC, or FDUSD) into your Binance account.
Visit the Binance Launchpool page and select the appropriate staking pool.
Stake your assets into the selected pool.
You can withdraw your staked assets at any time during the staking period, while RED rewards will continue to be earned as long as your assets remain staked.
After the Launchpool period ends, RED token will be listed on Binance on February 28, 2025 at 10:00 UTC via pre-market feature.