Binance has announced the launch of its latest cryptocurrency project, RedStone (RED), marking the 64th initiative under its Launchpool program. From February 26 to February 28, 2025, users can participate in this new offering by locking their BNB, FDUSD, and USDC in dedicated pools to earn RED coins.
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)
Price Limit Mechanism
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.
Official Listing Date
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.
The launch of RED by Binance marks a significant event in the cryptocurrency world, offering users new opportunities for investment and trading. Further announcements from Binance will provide more information on the project's future developments.
