What is $RED?
The upcoming $RED token will be the foundation of the RedStone oracle network. As RedStone scales to secure protocols on thousands of blockchains, $RED will help secure and decentralize RedStone oracles.
$RED will introduce the first truly sustainable oracle tokenomics, powered by an innovative staking mechanism utilizing EigenLayer. Details of $RED tokenomics and staking will be released soon.
The $RED token will have one of the most stringent distribution and lockup schedules on the market. No team or VC tokens will be liquid for the first 12 months after the TGE, and thereafter will be a very slow and cautious unlock.
What makes RedStone unique
● Best-in-class security: RedStone delivers best-in-class data and is the only major oracle that has never been manipulated or failed in production. RedStone consistently outperforms competitors in providing the most accurate and reliable data.
● The most scalable technology: RedStone’s modular architecture can easily support any asset, on any chain, for any application. This allows RedStone to support new chains before anyone else.
● Best support: RedStone leverages their modular architecture to build custom price feeds for clients, including the first price feeds for LST, LRT, staked BTC, yield-bearing stablecoins, and more. Recent RedStone Achievements
● RedStone partners with Spark, one of the largest DeFi Protocols with the highest security requirements Document
● RedStone is the largest oracle provider on BeraChain, securing 18 DeFi protocols on day one
● RedStone is the fastest growing price oracle in 2024, increasing their client base by 500%
● RedStone becomes the first major oracle to launch EigenLayer AVS
● They are a leader in yield-bearing assets and were the first team to ship feeds for LST, LRT, yield-bearing stablecoins, and BTC staking.
● RedStone's Series-A closed in June, bringing total funding raised to $22 million
🔶 What is Binance Launchpool
Binance Launchpool, is a platform where users can stake their existing cryptocurrencies to earn tokens from new projects. This is a form of yield farming or staking. By staking their assets, users receive rewards in the form of new tokens over a period of time. This allows projects to distribute their tokens and engage the community without going through a direct sale. The concept is similar to liquidity farming, where users lock their assets in a pool to support a new project and in return, they receive tokens from that project.
🔶 How Binance Launchpool Works
1. New Project Announcements: Binance regularly announces new projects to be launched on Launchpool.
2. Asset Staking: Users can stake their crypto assets, such as $BNB (Binance Coin), $FDUSD, or other supported crypto assets.
3. Getting Rewards: Once the assets are locked, users will start receiving new tokens as rewards.
4. Token Withdrawal: Once the staking period ends, users can withdraw their staked assets along with any newly acquired tokens.
🔶 How to get free RedStone from Binance Launchpool
You can participate in Launchpool Offerings and earn Project Tokens by temporarily locking your LP Assets with Binance. While you participate in Launchpool Offerings, neither Binance nor anyone else will be able to use, stake, invest, or manage your LP Assets.
Supported Pools:
- BNB Lock (webpage will be available in about 12 hours): 32,000,000 RED in rewards (80%)
- FDUSD Key (webpage will be available in about 12 hours): 4,000,000 RED in prizes (10%)
- USDC Lock (webpage will be available in about 12 hours): 4,000,000 RED in rewards (10%)
Farming Period: 2025-02-26 00:00 (UTC) to 2025-02-27 23:59 (UTC)
Detail RED Launchpool:
Nama Token: RedStone (RED)
Total and Max. Token Supply: 1,000,000,000 RED
Launchpool Token Rewards: 40,000,000 RED (4% of total token supply)
Initial Circulating Supply When Listed on Binance: 280,000,000 RED (28.00% of total token supply)
Launchpool requirements will apply. Users are required to complete KYC as per Binance requirements.
Hard Cap per Hour per User:
66.666 RED in pool BNB
8,333 RED in FDUSD pool
8.333 RED in pool USDC
#BinanceLaunchpoolRED #BinanceLaunchpool
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