Binance’s Latest Crypto Move: RedStone (RED) Set to Shake Up DeFi!

Binance Launchpool introduces RedStone (RED), a multi-chain oracle for DeFi, with staking & trading set for February 2025.

Fridah Kangai
February 26, 2025
11:44 am

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Binance Launchpool unveils its 64th project, RedStone, a next-gen oracle transforming DeFi efficiency.
RED token staking opens on February 26, 2025, with a 40 million RED reward pool.
Binance introduces safeguards to control price surges in the first 72 hours of trading.

Binance Launchpool has announced the launch of its 64th project, RedStone (RED), a decentralized data oracle platform designed to enhance decentralized finance (DeFi) applications. Redstone brings an innovative approach to blockchain data feeds to improve efficiency and reduce costs for developers building on various blockchain networks.

Redstone’s Unique Approach to Data Feeds

Redstone uses an accurate, on-demand, and cost-efficient multi-chain oracle system for EVM and non-EVM chains. However, unlike traditional Oracle systems, which often push data to the blockchain, RedStone operates on a pull system. Data is only added to transactions when required, reducing unnecessary gas fees and improving transaction efficiency.

With compatibility across more than 60 blockchain networks, RedStone supports major EVM chains such as Ethereum, Avalanche, and Polygon, alongside non-EVM blockchains like Movement and Sonic. The platform enables seamless integration for developers looking to optimize data usage without excessive blockchain costs.

Details of the RED Token Launch and Staking

RedStone’s native token, RED, has a total supply capped at 1 billion. Of this, 4% (40 million RED) has been allocated as rewards for Binance Launchpool participants. At listing, the circulating supply will be 280 million RED or 28% of the total supply.

Binance users can participate in the RedStone Launchpool by staking BNB, FDUSD, and USDC. Staking starts at 00:00 UTC on February 26, 2025. After a staking period, the RED token presale will begin on February 28, 2025, at 10:00 UTC. RED will be officially listed on the Binance platform, and the RED/USDT trading pair will open for pre-market trading.

Binance has instituted measures to enhance market stability that prevent substantial price volatility during the pre-market phase. This will limit the amount of trading price that may increase above the initial price in the first 72 hours of trading.

The integration of RedStone on Binance Launchpool will help improve DeFi with scalable data oracles for blockchain networks. This has always been RedStone’s promise: providing developers with a cost-efficient and easily scalable platform for their blockchain data needs. As Binance gears up for the RED token listing, enthusiasts and investors will be on the lookout for new possibilities in the expanding DeFi space.

Also Read: SEC Review Stirs Bitcoin Talk: Will Cardano (ADA) ETF Be Approved?