What to Know About RedStone (RED) – Binance Launchpool’s 64th Project

• RedStone offers scalable, pull-based data solutions to optimize DeFi gas costs.  
• RED token supply capped at 1 billion, with 28% in initial circulation during Binance listing.  
• Binance introduces an upward circuit breaker mechanism for RED’s pre-market trading phase.

Binance Launchpool is set to launch its 64th project, RedStone (RED), a decentralized data oracle platform to improve decentralized finance (DeFi) applications. 

The project is launching soon and rolling out a unique solution to the blockchain network. Its multi-chain oracle is built to provide reliable, customizable, and efficient data feeds for DeFi protocols across both EVM and non-EVM blockchains.

RedStone’s Innovative Data Approach

RedStone stands out with its open setup, which allows for data solutions that are both flexible and can grow as needed. The platform brings real-world data into blockchain smart contracts, serving different DeFi protocols.

Unlike typical oracles that constantly push data onto the blockchain—which can be wasteful and expensive—RedStone uses a “pull-based” model. This method gathers data when it’s needed and adds it to transactions only when it’s required.

Related: Binance Launchpool Adds New Stablecoin, USUAL

This way of doing things cuts down on gas costs and makes transactions more efficient. This makes RedStone an appealing choice for developers, especially those creating on platforms with high resource demands like Ethereum, or scaling solutions like Layer 2s.

Moreover, RedStone works with over 60 blockchain networks. This means it’s compatible with popular EVM chains like Ethereum, Avalanche, and Polygon, as well as non-EVM chains like Movement and Sonic.

RED Tokenomics and Launch Details

The total number of RED tokens is limited to 1 billion. 4% of these tokens (40 million RED) are set aside for Launchpool rewards. The starting supply of tokens when RED is listed will be 280 million RED, which is 28% of the total token supply.

Binance users can get involved in the RedStone Launchpool by locking up BNB, FDUSD, and USDC. Staking begins at 00:00 UTC on February 26, 2025. Pre-market trading for RED will start on February 28, 2025, at 10:00 UTC, followed by the official listing. Furthermore, pre-market trading will be available with the RED/USDT trading pair. More details on the trading schedule are expected soon.

Related: Binance Adds IONET (IO) to Launchpool, Expanding AI Offerings

Also, Binance has added a mechanism to prevent extreme price jumps during the pre-market phase. This feature will limit how high the trading price can go above the starting price during the first 72 hours of trading.