How to Farm RedStone ($RED)? The 64th Project on Binance Launchpool

RedStone is the 64th project to launch on Binance Launchpool, bringing its oracle technology to one of cryptocurrency's largest exchanges. As a multi-chain oracle service provider, RedStone aims to build a reputation for delivering reliable, customizable data feeds across both EVM and non-EVM compatible blockchains.

The project's native token, RED, is designed to further decentralize the RedStone ecosystem while introducing new economic security mechanisms. Through Binance Launchpool, crypto enthusiasts now have the opportunity to farm RED tokens before they officially list on the exchange, creating an accessible entry point for those interested in participating in RedStone's growth.

How to Farm RED Tokens via Binance Launchpool

Before diving deeper into RedStone's technology and tokenomics, let's explore how you can participate in the RED token farming opportunity through Binance Launchpool.

Step 1: Log into Your Binance Account

To participate in the RED token farming, you'll need an active Binance account. If you don't already have one, you'll need to register at Binance.com and complete the required identity verification process.

Step 2: Fund Your Account with BNB, FDUSD, or USDC

The RED farming program on Binance Launchpool supports three different staking pools:

• BNB Pool (80% of rewards)
• FDUSD Pool (10% of rewards)
• USDC Pool (10% of rewards)

You'll need to deposit or purchase one or more of these assets to participate in farming.

Step 3: Access Binance Launchpool

Navigate to the More section on the platform and select "Launchpool" from the available options. Locate the RED farming pool to begin participating.

Step 4: Stake Your Assets

Choose which pool(s) you'd like to participate in. You can stake in one, two, or all three pools to maximize your potential rewards. Enter the amount you wish to stake and confirm the transaction. Your staking will begin immediately, and you'll start accumulating RED tokens.

Step 5: Track Your Rewards

You can monitor your accumulated RED tokens in the Launchpool section of your Binance account. Rewards are distributed hourly, with snapshots of user balances taken multiple times each hour to calculate the appropriate reward distribution.

Step 6: Claim Your RED Tokens

You can claim your earned RED tokens to your Spot Wallet at any time during the farming period. Once claimed, these tokens will be available for trading when RED is officially listed on Binance Pre-Market.

Important Dates and Details

• Farming Period: February 26, 2025, 00:00 UTC to February 27, 2025, 23:59 UTC
• Total Token Rewards: 40,000,000 RED (4% of total token supply)
• Pre-Market Trading: Begins February 28, 2025, 10:00 UTC
• Hourly Hard Cap per User:
• 66,666 RED in BNB pool
• 8,333 RED in FDUSD pool
• 8,333 RED in USDC pool

Understanding RedStone's Oracle Technology

Now that we've covered how to participate in the RED token farming, let's explore what makes RedStone's oracle technology distinctive in the blockchain ecosystem.

Multi-Chain Data Delivery

One of RedStone's standout features is its modular architecture that separates data collection from data delivery. This design creates a flexible system that can scale efficiently across numerous blockchain networks without requiring significant infrastructure changes.

The same price feeds can be deployed to any supported chain without modifying the core data provider infrastructure. This architectural approach eliminates the need to deploy new nodes for each integration, allowing RedStone to achieve faster and more cost-effective expansion while maintaining consistent security standards.

Unique Data Feeds

RedStone goes beyond standard cryptocurrency price feeds to serve emerging financial products and specialized digital assets. The system's versatile framework provides reliable data for complex instruments such as:

• Liquid Restaking Tokens (LRT)
• Bitcoin DeFi derivatives (BTCFi)
• Various Real World Assets (RWA)

Each specialized feed has tailored validation parameters and aggregation methods. RedStone combines institutional data provider connections with traditional crypto market data, processing these specialized feeds through multiple validation layers. These include asset-specific anomaly detection, market depth analysis, and cross-source variance checks.

Before being made available, each feed undergoes customized price aggregation and is validated through a consensus mechanism requiring agreement from multiple independent, collateralized operators. This ensures high-quality data across a wide range of asset types.

Security and Data Quality Standards

RedStone implements a comprehensive security architecture for its price feeds, employing a multi-layered approach to data validation and system reliability. The infrastructure is built on principles borrowed from critical systems engineering, featuring distributed nodes that independently verify data integrity.

Multiple redundant backup systems ensure continuous operation even during partial outages. Through rigorous monitoring, anomaly detection, and consensus-based price formation, combined with economic incentives for data providers, the system has maintained a clean track record with zero mispricing incidents since its inception.

This achievement is supported by a robust development lifecycle that includes regular third-party security audits, continuous automated testing, and a sophisticated alert system that enables rapid response to potential anomalies before they can impact price data quality.

RED Token Overview and Utility

The RED token is central to RedStone's plans for further decentralization of its oracle network. Let's examine the token's utility and economics.

RED Token at a Glance

• Ticker: RED
• Maximum Supply: 1,000,000,000 RED
• Token Standard: Ethereum Network (ERC-20)
• Initial Circulating Supply: 280,000,000 RED (28% of total supply)
• Smart Contract Address: 0xc43c6bfeda065fe2c4c11765bf838789bd0bb5de (Ethereum Network)

Staking for Economic Security

RED is designed as a utility token with an innovative value accrual mechanism. The token introduces what RedStone describes as the first truly sustainable oracle economics.

Leveraging RedStone's EigenLayer Actively Validated Service (AVS), RED staking adds a robust layer of economic security to RedStone's oracle stack. The system utilizes staked RED and potentially taps into billions of dollars staked in EigenLayer for additional security.

RED can be staked by two primary groups:

1. Data providers who supply data to RedStone's modular oracle network
2. Token holders who enhance network security through direct staking in the RedStone AVS

An important aspect of this model is that RED stakers can earn rewards from RedStone data users across hundreds of blockchains. These rewards are paid in widely adopted assets like ETH, BTC, SOL, and USDC, creating a sustainable economic model for participants.

Token Distribution and Allocation

The maximum supply of RED is capped at 1 billion tokens, with an initial float of 30% at launch. Nearly half of all RED tokens (48.3%) will be allocated to the RedStone Ecosystem & Community across various categories.

Distribution Categories

Token Release Schedule

Importantly, 70% of RED tokens are initially locked, with these tokens scheduled to unlock over a 4-year period according to the project's token release schedule. This extended vesting period is designed to ensure long-term alignment of interests among all stakeholders.

RedStone's Market Position and Achievements

RedStone has been operating on mainnet since January 2023 and has achieved notable market adoption. The project currently provides oracle services to over 100 decentralized applications, helping secure billions of dollars in digital assets.

The project's ability to support a wide range of data types has made it particularly valuable for emerging DeFi applications that require specialized data feeds.

RedStone's code has undergone multiple security audits and has established trust among top DeFi protocols. The system's track record of zero mispricing incidents demonstrates the effectiveness of its multi-layered security architecture and data validation processes.

Technical Architecture and Innovations

RedStone's technical architecture introduces several innovations to the oracle space:

Separation of Data Collection and Delivery

By separating these functions, RedStone can optimize each independently. Data collection can be tuned for accuracy and reliability, while data delivery mechanisms can be customized for different blockchain environments.

Customizable Data Feeds

Protocols can specify their requirements for data types, update frequency, and validation parameters. This flexibility allows for more efficient resource allocation compared to one-size-fits-all approaches.

Cross-Chain Compatibility

RedStone's architecture was designed from the ground up to support diverse blockchain environments, enabling the same data feeds to be delivered consistently across different networks without compromising on security or reliability.

Scalable Infrastructure

The system's modular design allows for efficient scaling as demand grows. New data types can be added without overhauling the entire system, and additional blockchain networks can be supported without duplicating infrastructure.

Eligibility and Restrictions

It's important to note that participation in the RED Launchpool and Binance Pre-Market is subject to eligibility based on the user's country or region of residence. Users from certain countries or regions will not be able to participate in farming RED or trading on Binance Pre-Market.

Disclaimer

While RedStone's launch on Binance Launchpool represents a significant milestone for the project, it's crucial for all cryptocurrency users to exercise caution. The crypto market is highly volatile, and all investment decisions should be made after thorough research and consideration of personal risk tolerance.

Users should always:

• Keep their private keys and account credentials secure
• Enable two-factor authentication for all exchange accounts
• Verify transaction details before confirming
• Be wary of phishing attempts and scams
• Never invest more than they can afford to lose

Participation in token farming activities and trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making investment decisions