Binance Launchpool的“價格限制機制”測試是紅石（紅色）令牌

2月25日，Binance宣布，它將在發射池的售前交易中推出“價格限制機制”測試，這項測試是針對Redstone（Red）（紅色）代幣的。

Binance will test a “price limit mechanism” in the pre-market trading of Launchpool, the first testing token is RedStone (RED), the 64th project of Binance Launchpool, a multi-chain oracle across EVM and non-EVM chains.

Binance將測試發射池前市場交易的“價格限制機制”，第一個測試令牌是Redstone（Red），Redstone（Red），Binance Launchpool的第64個項目，Binance Launchpool是EVM和非EVM鏈中的多鏈甲骨文。

According to the pre-market trading rules, Binance stated that in order to promote innovation and enhance the user trading experience, it launched a new feature of the Binance pre-market trading market - the price limit mechanism. This mechanism will limit the maximum trading price in the first 72 hours of the pre-market market, and the token price increase must not exceed a certain percentage of the initial opening price. After 72 hours of the pre-market opening, there will be no price limit and trading will return to normal.

根據市場前交易規則，Binance表示，為了促進創新並增強用戶交易體驗，它啟動了Binance前市場交易市場的新功能 - 價格限制機制。這種機制將限制在市場前市場的前72小時內的最高交易價格，而代幣的價格上漲不得超過初始開盤價的一定百分比。經過72個小時的開業，將沒有價格限制，交易將恢復正常。

According to the tips, this price limit mechanism is only tested when the RED token is issued, and it is not yet certain whether this function will become a long-term function of the pre-market market in the future.

根據技巧，只有在發出紅色令牌時才測試此價格限制機制，並且尚不確定該功能將來是否會成為前市場市場的長期功能。

According to the pre-market trading rules, the maximum position limit for an individual is 5,000 RED. The specific daily limit rules are as follows:

根據前市場交易規則，個人的最大位置限制為5,000紅色。特定的每日限制規則如下：

2025-02-28 18:00 - 2025-03-01 17:59 (GMT+8): The maximum order price is 200% of the opening price

2025-02-28 18：00-2025-03-01 17:59（GMT+8）：最高訂單價格為開放價格的200％

18:00, March 1, 2025 - 17:59, March 2, 2025 (GMT+8): The maximum order price is 300% of the opening price

18：00，2025年3月1日 - 2025年3月2日（GMT+8）：最高訂單價格是開盤價的300％

2025-03-02 18:00 - 2025-03-03 17:59 (GMT+8): The maximum order price is 400% of the opening price

2025-03-02 18：00-2025-03-03 17:59（GMT+8）：最高訂單價格為開放價格的400％

After 18:00 on March 3, 2025 (GMT+8): No price limit

在2025年3月3日18:00之後（GMT+8）：沒有價格限制

In addition, RedStone (RED), total/maximum supply of tokens: 1 billion RED, total Launchpool supply: 40 million RED (4% of the maximum supply of tokens), initial circulation: 280 million RED (28.00% of the total supply of tokens).

此外，紅石（紅色），代幣的總/最大供應：10億紅色，總發射池供應：4000萬紅色（佔代幣供應的最大供應量的4％），初始循環：2.8億紅色（佔總供應總量的28.00％）代幣）。

The individual hourly reward hard cap is as follows:

每小時的獎勵硬上限如下：

BNB mining pool: 66,666 RED

BNB採礦池：66,666紅色

FDUSD Pool: 8,333 RED

FDUSD池：8,333紅色

USDC mining pool: 8,333 RED.

USDC採礦池：8,333紅色。

The daily limit mechanism is designed to deal with the sharp rise and fall of new coins. Is it applicable to cryptocurrencies?

每日極限機制旨在處理新硬幣的急劇上升和下降。它適用於加密貨幣嗎？

What Binance calls the "limit-up mechanism" can actually be regarded as a circuit breaker mechanism, but Binance has not yet clarified the time to stop trading. This mechanism originally came from the traditional financial market, and refers to the suspension of trading measures taken by the exchange to control risks when the volatility of the stock index reaches the specified circuit breaker point. Taking the New York Stock Exchange as an example, the New York Stock Exchange has implemented three circuit breaker thresholds, measuring the decline of the S&P 500 index from the closing price of the previous trading day - 7% (level 1), 13% (level 2) and 20% (level 3). When the first two thresholds are reached, trading will be suspended for 15 minutes. At the level 3 threshold, trading will be stopped.

Binance所說的“限制機制”實際上可以被視為斷路器機制，但二手幣尚未澄清停止交易的時間。這種機制最初來自傳統金融市場，指交易所暫停交易措施，以控制股票指數的波動率達到指定的斷路器點時，以控制風險。以紐約證券交易所為例，紐約證券交易所已實施了三個斷路器閾值，從上一行交易日的收盤價開始，衡量了標準普爾500指數的下降 - 7％（1級），13％（ 2級）和20％（3級）。當達到前兩個閾值時，交易將暫停15分鐘。在3級閾值時，將停止交易。

Supporters believe that the circuit breaker mechanism helps stabilize market sentiment and prevent investors from overreacting. The daily limit mechanism tested by Binance this time is designed to prevent new coins from experiencing sharp rises and falls when they are listed, thereby reducing extreme volatility and avoiding price surges due to speculation or manipulation. This mechanism is designed to make pre-market transactions more controllable and predictable, and provide the market with enough time to digest information and avoid drastic fluctuations after the opening.

支持者認為，斷路器機制有助於穩定市場情緒，並防止投資者反應過度。這次通過Binance測試的每日極限機制旨在防止新硬幣在列出時急劇上升和下降，從而降低了極端波動性並避免由於猜測或操縱而避免價格飆升。該機制旨在使市場前交易更加可控制和可預測，並為市場提供足夠的時間來消化信息，並避免開放後發生急劇波動。

However, users who oppose this mechanism believe that it may violate the decentralized concept advocated by cryptocurrencies. The volatility of the crypto market is high, and the setting of circuit breakers is challenging in itself. Some users are considering whether a circuit breaker mechanism can be added to the algorithm and design of the currency. However, considering the free market fundamentalist attitude of the cryptocurrency industry as a whole, these ideas are probably not very realistic.

但是，反對這種機制的用戶認為，它可能違反了加密貨幣提倡的分散概念。加密市場的波動率很高，斷路器的設置本身就是具有挑戰性的。一些用戶正在考慮是否可以將斷路器機制添加到貨幣的算法和設計中。但是，考慮到整個加密貨幣行業的自由市場原教旨主義態度，這些想法可能不是很現實。

In addition, the crypto market is open 24 hours a day and there are multiple trading platforms. If a platform announces the implementation of a circuit breaker mechanism, it may lead to a widening of the price difference between different platforms, thus triggering arbitrage behavior. Crypto user @ChequerCat666 pointed out: "It is useless unless this coin is only listed on Binance, including DEX (decentralized exchange)." However, supportive users believe that it is possible to form

此外，加密市場每天24小時開放，並且有多個交易平台。如果平台宣布了斷路器機制的實現，則可能會導致不同平台之間的價格差異擴大，從而觸發套利行為。 Crypto用戶 @chequercat666指出：“除非該硬幣僅在Binance上列出，否則它是沒有用的，包括Dex（分散交易所）。”但是，支持用戶認為可以形成