RedStone (RED) is a next-generation, multi-chain oracle solution that has recently been introduced as the 64th project on Binance Launchpool. This platform provides scalable and reliable data feeds across both EVM and non-EVM blockchains, enhancing the efficiency of decentralized finance (DeFi) applications.
Tokenomics:
Total Supply: The maximum supply of RED tokens is capped at 1,000,000,000.
Circulating Supply: At the Token Generation Event (TGE), the circulating supply is set at 280,000,000 RED tokens.
Initial Distribution:
Community & Genesis: 10%
Protocol Development: 10%
Core Contributors: 20%
Binance Launchpool: 4%
Ecosystem & Data Providers: 24.3%
Early Supporters: 31.7%
This distribution strategy aims to incentivize participation, innovation, and growth within the RedStone ecosystem.
Staking and Utility:
RED tokens can be staked by data providers and token holders to enhance network security. Stakers are rewarded by RedStone data users across multiple blockchains, with rewards paid in widely adopted assets such as ETH, BTC, SOL, and USDC.
Binance Launchpool Participation:
Users can participate in the Binance Launchpool by staking BNB and FDUSD to farm RED tokens. The farming phase began on February 26, 2025, and will continue for a specified period.
Pre-Market Trading:
Binance initiated Pre-Market trading for RED on February 28, 2025, allowing users to trade RED/USDT before its official spot listing. To ensure price stability, a Price Cap Mechanism was implemented for the first 72 hours of Pre-Market trading.
RedStone's innovative approach and its integration into Binance Launchpool present a promising opportunity for participants and investors.
For a more detailed overview, you can watch the following video:
