Binance Adds RedStone (RED) to Launchpool as 64th Project
Global cryptocurrency exchange Binance has announced the addition of RedStone (RED) to its Launchpool, marking it as the 64th project. RedStone is a decentralized finance protocol functioning as an oracle for EVM and non-EVM blockchains.
Key Details
- Farming for RED starts on February 26, 2025, at 00:00 UTC and lasts two days.
- Users can stake BNB, USDC, and FDUSD to earn RED tokens.
- Post-farming, RED will be listed on Binance's Pre-Market with an upward circuit breaker for the first 72 hours to regulate trading activity.
- A maximum holding limit of 5,000 RED per trader is set for Pre-Market trading.
- Certain regions are restricted from participating, including Canada, the US, the Netherlands, Japan, Kazakhstan, and North Korea.
Token Supply and Distribution
- Total supply of RED is 1 billion; 30% will enter circulation at launch.
- 48.3% allocated for community and ecosystem growth.
- 10% reserved for early adopters and contributors, another 10% for the development team.
- 28.3% designated for builders and data providers.
- 20% distributed to top contributors and community leaders.
- 31.7% allocated to investors, advisors, and strategic partners.
Initially available as an ERC-20 token, plans are in place to expand to networks like Solana and Base through Wormhole native token transfer.