RedStone (RED) - A Decentralized Data Oracle Platform to Improve DeFi Applications

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

Binance Launchpool is preparing to launch its 64th project, unveiling RedStone (RED), a decentralized data oracle platform designed to enhance decentralized finance (DeFi) applications. The highly anticipated project is set to introduce a unique solution within the blockchain realm.

Get ready to explore @redstone_defi $RED on #Binance Launchpool! Stake BNB, FDUSD, and USDC to farm $RED, and discover the new Upward Circuit Breaker Mechanism for Binance Pre-Market.

Learn more ? https://t.co/X9ZNzBlJg0 pic.twitter.com/Y2X036og9C

Unveiling RedStone's Innovative Data Approach

At its core, RedStone is distinguished by its open architecture, enabling the creation of flexible and scalable data solutions. The platform facilitates the integration of real-world data into blockchain smart contracts, catering to various DeFi protocols.

In contrast to conventional oracles that continuously push data onto the blockchain, which can be both wasteful and costly, RedStone employs a "pull-based" model. This approach gathers data only when it's needed, adding it to transactions as and when required.

This approach minimizes gas consumption and enhances transaction efficiency, making RedStone particularly appealing to developers, especially those building on resource-intensive platforms like Ethereum or scaling solutions like Layer 2s.

Furthermore, RedStone boasts compatibility with over 60 blockchain networks, ranging from popular EVM chains like Ethereum, Avalanche, and Polygon to non-EVM chains like Movement and Sonic.

Exploring RED Tokenomics and Launch Details

The total supply of RED tokens is capped at 1 billion. Notably, 4% of these tokens (40 million RED) are allocated for Launchpool rewards.

The starting token supply upon RED's listing will be 280 million RED, which constitutes 28% of the total token supply.Binance users can participate in the RedStone Launchpool by locking up BNB, FDUSD, and USDC. Staking commences at 00:00 UTC on February 26, 2025.

Pre-market trading for RED is scheduled to begin on February 28, 2025, at 10:00 UTC, ahead of the official listing. During this phase, the RED/USDT trading pair will be available. Stay tuned for further announcements regarding the trading schedule.

Moreover, Binance is introducing a mechanism to curb extreme price movements during the pre-market phase. This feature will limit the extent to which the trading price can rise above the starting price during the first 72 hours of trading.

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