Binance Launchpool's 64th Project: RedStone Revolutionizes DeFi with Gas-Efficient Oracle

Binance Launchpool, the cryptocurrency exchange's decentralized platform for new project launches, is set to introduce its 64th project, RedStone (RED), a decentralized data oracle platform designed to enhance decentralized finance (DeFi) applications. The project is poised to launch soon, offering a unique solution to optimize gas costs in the blockchain network.

RedStone's innovative approach lies in its scalable, pull-based data solutions. Unlike traditional oracles that constantly push data onto the blockchain, RedStone gathers data only when it's needed and adds it to transactions when required. This method significantly reduces gas costs and improves transaction efficiency, making it an attractive choice for developers, particularly those working on platforms with high resource demands like Ethereum or scaling solutions like Layer 2s.

The RED token, the native currency of the RedStone platform, has a total supply capped at 1 billion. Initially, 28% of the tokens, or 280 million RED, will be in circulation during the Binance listing. Binance has allocated 4% of the total token supply (40 million RED) for Launchpool rewards. Users can participate in the RedStone Launchpool by staking BNB, FDUSD, and USDC, with staking beginning at 00:00 UTC on February 26, 2025.

Pre-market trading for RED will commence on February 28, 2025, at 10:00 UTC, with the official listing to follow. The RED/USDT trading pair will be available during the pre-market phase. To prevent extreme price jumps during the initial trading period, Binance has introduced an upward circuit breaker mechanism, which will limit the trading price from rising too high above the starting price during the first 72 hours.