Binance is officially launching the $RED token from RedStone, a multi-chain oracle across EVM and non-EVM chains. The webpage, according to the announcement, will be made available in the next 12 hours, before the launchpool starts.
Users will be able to lock their BNB, FDUSD, and USDC to receive airdrops over two days, with farming starting from February 26, 2025 00:00 (UTC).
Binance Pre-Market will list the token at February 28, 2025 10:00 (UTC) and open pre-market trading for the RED/USDT trading pair. According to the announcement, participation in Binance Pre-Market is subject to eligibility based on the user’s country or region of residence.
Binance has also introduced an upward circuit breaker mechanism for the first 72 hours of trading, limiting the maximum price increase. After this period, trading will resume without restrictions. All of this to enhance the user experience.
Token Supply
The total supply of RED is 1 billion tokens, with an initial circulating supply of 280 million tokens (28% of the total). Binance will allocate 40 million tokens (4% of the total supply) as reward for the launchpool.
Users can participate in farming from February 26 to February 27, 2025, with a total daily reward of 20 million tokens distributed across different pools: 16 million for BNB, 2 million for FDUSD, and 2 million for USDC.
Notably, nearly half of all tokens, which makes 48.3% of the total supply, are designated for the RedStone Ecosystem and Community, ensuring strong support for its growth and development. The trading pair RED/USDT will be available on Binance Pre-market starting February 28, 2025.
What is $RED?
The $RED token is a cryptocurrency that is built on the Ethereum blockchain, primarily designed to support decentralized applications (dApps) through its modular oracle technology. It provides reliable, real-time data feeds across multiple blockchains, which makes it a valuable tool for DeFi protocol.
The introduction of the token has generated a significant amount of uproar within the crypto community. The reason for its popularity can be attributed to several factors. One of them being, project’s strong backing, having raised $15 million in a Series A funding round from notable investors like Coinbase Ventures and Blockchain Capital.
Additionally, it is being speculated that there could be a potential price appreciation token post-launch.
Overall, the launch of $RED depicts an amalgamation of technological advancement and market opportunity, making it a center point for crypto enthusiasts interested decentralized finance.
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