Hello Crypto Lovers!
I'm happy announce the REDSTONE Project which backed by binance
The upcoming $RED token will be the foundation of the RedStone oracle network.
$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 strictest distribution and locking schedules on the market.
No team or VC tokens will be liquid in the first 12 months after TGE, and afterwards will have very slow, careful unlocks.
What makes RedStone unique
The best 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 at providing the most accurate, most 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.
The best support: RedStone leverages their modular architecture to build custom price feeds for clients, including the first ever price feeds for LSTs, LRTs, staked BTC, yield-bearing stablecoins and more
Binance has announced the 64th project on Binance Launchpool - RedStone (RED), a multi-chain oracle across EVM and non-EVM chains. The webpage is estimated to be available in 12 hours, before the Launchpool starts.
Users will be able to lock their BNB, FDUSD, and USDC to receive RED airdrops over two days, with farming starting from 2025-02-26 00:00 (UTC).
Pre-Market:
Binance Pre-Market will then list RED at 2025-02-28 10:00 (UTC) and open pre-market trading for the RED/USDT trading pair. Pre-Market end time and spot listing time will be announced at a later date. Please stay tuned for our upcoming announcement. Participation in Binance Pre-Market is subject to eligibility based on the user's country or region of residence.
Price Cap Mechanism for Binance Pre-Market
To continue innovating and enhancing the trading experience for our users, Binance is introducing enhanced features for Binance Pre-Market - Price Cap Mechanism.
Price Cap Mechanism limits the maximum trading price to a certain percentage of the initial opening price for the first 72 hours of trading in Pre-Market. After the initial 72 hours, there will be no price restrictions, and trading will resume as normal.
Please note that this Price Cap Mechanism is being trialed for the RED token launch and it is yet to be determined if this will be an ongoing feature of future Pre-Market.
Pre-Market Details:
Maximum Holding Limit per User: 5,000 RED
Price Cap Mechanism Rules:
2025-02-28 10:00 (UTC) - 2025-03-01 09:59 (UTC): Maximum allowable price limit is 200% of the initial opening price
2025-03-01 10:00 (UTC) - 2025-03-02 09:59 (UTC): Maximum allowable price limit is 300% of the initial opening price
2025-03-02 10:00 (UTC) - 2025-03-03 09:59 (UTC): Maximum allowable price limit is 400% of the initial opening price
After 2025-03-03 10:00 (UTC): No price restrictions for Pre- Market
More Information about Pre-Market:
Binance Launches Pre-Market: Exclusive Offering for Users to Acquire Tokens Before Official Spot Listing
What Is Binance Pre-Market
How to Spot Trade on Binance (App / Web)
RED Launchpool Details:
Token Name: 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)
Smart Contract / Network Details: Ethereum Network (0xc43c6bfeda065fe2c4c11765bf838789bd0bb5de)
Launchpool Terms will apply. Users are required to complete KYC to Binance’s satisfaction.
Hourly Hard Cap per User:
66,666 RED in BNB pool
8,333 RED in FDUSD pool
8,333 RED in USDC pool
Read about RedStone (RED) in our research report here, which will be available within 24 hours of publishing this announcement.
Supported Pools:
Lock BNB (webpage will be available in around 12 hours): 32,000,000 RED in rewards (80%)
Lock FDUSD (webpage will be available in around 12 hours): 4,000,000 RED in rewards (10%)
Lock USDC (webpage will be available in around 12 hours): 4,000,000 RED in rewards (10%)
Farming Period: 2025-02-26 00:00 (UTC) to 2025-02-27 23:59 (UTC)
