Binance has officially announced the debut of its latest cryptocurrency project, RedStone (RED), marking the 64th initiative under its Launchpool program. From February 26 to February 28, 2025, users can engage in this new offering by locking their BNB, FDUSD, and USDC in designated pools to earn RED coins.
What Are the Key Features of the RED Coin Launch?
The RED coin launch aims to distribute a total of 40 million coins from an overall supply of 1 billion through the Launchpool. Here are the primary details:
- Total Supply: 1 billion RED coins
- Launchpool Distribution: 40 million (4% of total supply)
- Initial Circulating Supply: 280 million (28% of total)
- Network: Ethereum (0xc43c6bfeda065fe2c4c11765bf838789bd0bb5de)
How Does the Price Limit Mechanism Work?
Pre-Market trading for RED will commence on February 28, allowing users to trade RED/USDT pairs. To regulate potential price volatility, Binance will implement a new price limit mechanism. A maximum of 5,000 RED coins may be held per user during this phase.
- The initial price limit will cap at 200% of the opening price from February 28 to March 1.
- This will increase to 300% from March 1 to March 2.
- From March 2 to March 3, the limit will rise to 400% of the opening price.
Starting March 3, 2025, the price cap will be lifted, and Binance will announce the official listing date for RED coins. Participants are reminded to verify their regional eligibility to engage in Binance’s Pre-Market operations.
