Binance’s Latest Crypto Adventure: RedStone Joins the Party! 🎉

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In the grand bazaar of digital currencies, where fortunes are made and lost faster than a sneeze in a windstorm, Binance has thrown open its gates to welcome the illustrious RedStone (RED). This decentralized finance oracle, a beacon of hope for Ethereum Virtual Machine (EVM) and non-EVM blockchains alike, has become the 64th project to grace the hallowed halls of Binance Launchpool. 🎊

Since its inception in the fateful month of September 2020, Binance Launchpool has been a veritable cornucopia for those daring enough to stake their cryptocurrencies in the name of new ventures. It’s a place where dreams are nurtured, and rewards are reaped, often before the public even gets a whiff of what’s cooking. Talk about being ahead of the curve! 😏

RedStone Joins Binance Launchpool

On a rather ordinary Tuesday, Binance made the announcement that users can start farming RED tokens from the stroke of midnight on February 26, 2025. Yes, you heard that right! Set your alarms, folks! ⏰

For a mere two days, users can stake their Binance Coin at a staggering price of . And let’s not forget the thrilling rollercoaster of volatility, which stands at a heart-pounding . The market cap? A jaw-dropping . And if you’re feeling particularly adventurous, you can also stake Circle USD at a cool with a volatility of and a market cap of . What a time to be alive! 💸

But wait, there’s more! You can also stake First Digital USD at the same price of . With a volatility of and a market cap of , it’s practically a steal! 🤑

Once the staking extravaganza concludes, Binance will list RED on its Pre-Market, complete with an “upward circuit breaker mechanism” to keep the initial trading activity from spiraling into chaos. This mechanism will ensure that the maximum trading price is tethered to a predefined percentage above the initial listing price for the first 72 hours. After that, it’s a free-for-all! 🎢

However, Binance has made it clear that this mechanism is still in the trial phase with RedStone, and whether it will become a permanent fixture remains to be seen. So, keep your fingers crossed! 🤞

Pre-Market Trading and Availability

In the realm of Pre-Market trading, Binance has imposed a rather generous maximum holding limit of 5,000 RED per trader. But alas, not everyone can join the fun! Due to regulatory restrictions, users from certain countries—including Canada, the United States and its territories, the Netherlands, Japan, Kazakhstan, and North Korea—will be left out in the cold. Sorry, folks! ❄️

RedStone boasts a maximum token supply of 1 billion, with a whopping 30% ready to hit the market upon launch. Initially, RED will strut its stuff as an ERC-20 token, but fear not! The team has grand plans to expand to networks like Solana and Base through the magical Wormhole native token transfer. 🌌

The RedStone team has allocated a staggering 48.3% of the total supply to community and ecosystem growth, ensuring that this project doesn’t just fizzle out like a damp firecracker. A generous 10% is reserved for early adopters and active contributors, because who doesn’t love a little recognition? 🎖️

Another 10% is earmarked for the RedStone team, ensuring that the brains behind the operation are well-compensated for their tireless efforts. And let’s not forget the 28.3% set aside as incentives for builders and data providers, because innovation doesn’t grow on trees! 🌳

Finally, 20% of the token supply will be distributed among top contributors, engineers, security experts, and community leaders. And for those who supported RedStone’s early development and growth, a generous 31.7% will be allocated to investors, advisors, and strategic partners. It’s a win-win for everyone involved

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2025-02-25 16:02