Binance Introduces Exciting New RED Coin with Unique Features

Binance is launching a new cryptocurrency project called RedStone (RED) as its 64th Launchpool initiative. Users can participate by locking their BNB, FDUSD, and USDC in specific pools to earn RED coins from February 26 to February 28. Additionally, Binance will test a new upward price limit mechanism during the Pre-Market trading of this cryptocurrency.

Details of the Binance RED Coin Launchpool

The Launchpool platform will be utilized for RedStone’s launch. Users can lock BNB, FDUSD, and USDC to claim a share of 40 million RED coins distributed from a total supply of 1 billion. Here are the Launchpool details:

• Total RED Coin Supply: 1 billion
• Amount Distributed via Launchpool: 40 million (4% of supply)
• Initial Circulating Supply: 280 million (28% of supply)
• Coin Network Details: Ethereum $2,446 (0xc43c6bfeda065fe2c4c11765bf838789bd0bb5de)

Users can lock coins in the following pools to earn RED coins:

• BNB Pool: 32 million RED (80%)
• FDUSD Pool: 4 million RED (10%)
• USDC Pool: 4 million RED (10%)

Details of the Upward Price Limit Mechanism with RED Coin

On February 28, Binance will initiate Pre-Market trading for the RED coin. Users will have the opportunity to trade RED/USDT pairs, but a new price limit mechanism will be implemented to maintain control of price fluctuations during this period. Furthermore, the maximum amount of RED coins a user can hold will be capped at 5,000.

The details of the upward price limit mechanism are as follows:

• February 28, 13:00 – March 1, 12:59: Maximum price at 200% of the opening price
• March 1, 13:00 – March 2, 12:59: Maximum price at 300% of the opening price
• March 2, 13:00 – March 3, 12:59: Maximum price at 400% of the opening price

Starting March 3, 2025, at 13:00, the price limitation will be lifted. Binance aims to prevent sudden and uncontrolled price fluctuations with this new mechanism. The exact listing date for RED coin on the spot market will be announced later, and users must ensure regional eligibility to participate in Binance Pre-Market.