Binance Launchpool presents RedStone (RED): the oracle for EVM and non-EVM blockchain

Binance Launchpool has launched RedStone (RED) as its 64th project, bringing a new multi-chain oracle that operates on both EVM and non-EVM blockchains.

This innovation strengthens the DeFi ecosystem by providing reliable and efficient financial data to various networks, enhancing the scalability and security of the decentralized oracle.

In addition to this launch, Binance introduces a new mechanism for Pre-Market Trading, called Upward Circuit Breaker, designed to limit initial volatility in the first 72 hours of trading.

RedStone (RED): the innovative oracle for EVM and non-EVM blockchains arrives on Binance Launchpool

The launch of RedStone on Binance Launchpool represents a significant step in the DeFi sector. Oracles are fundamental for decentralized applications (dApp) as they provide verified external data to smart contracts. RedStone stands out for its advanced architecture, capable of operating on multiple blockchains, including both EVM (Ethereum Virtual Machine) and non-EVM.

This approach allows for greater interoperability and reduces transaction costs compared to traditional oracles. The main features of RedStone include:

•Multi-chain support: compatible with blockchains such as Ethereum, Solana, Arbitrum, Avalanche, and others.

•Efficiency and scalability: uses an “on-demand” model to provide data without overloading the network.

•Reliability and security: implement advanced solutions to ensure precise and tamper-resistant data.

Users of Binance Launchpool will be able to stake BNB and FDUSD to obtain RED tokens in the initial phase, before its official listing.

Binance Pre-Market: the new Upward Circuit Breaker to contain volatility

In parallel with the launch of RedStone, Binance introduces an update for its Pre-Market Trading, the mechanism that allows users to trade new assets before their official listing.

The key element of this innovation is the “Upward Circuit Breaker Mechanism,” designed to contain extreme volatility in the first 72 hours of trading.

How does it work?

•Price limitation: the maximum trading price will be set at a certain percentage relative to the initial opening price.

•Duration: the restriction will be valid for the first 72 hours of trading.

•Normal trading after 72 hours: once the initial period is over, the limits will be removed and the market will resume with the normal bull and bear price dynamics.

This system aims to prevent market manipulations and strong fluctuations in the early days of trading, protecting both retail and institutional investors.

Conclusion

With the launch of RedStone on Binance Launchpool, Binance strengthens the DeFi sector by providing an innovative multi-chain oracle.

At the same time, the introduction of the Upward Circuit Breaker mechanism in Pre-Market Trading demonstrates Binance’s commitment to creating a more stable and secure trading environment.

These two initiatives consolidate Binance’s position as one of the most advanced platforms in the crypto sector, offering new opportunities to investors and improving market efficiency.