RedStone, a modular blockchain oracle supporting over 70 chains and 1,250 assets, has officially launched its RED token.
Alongside the launch, the platform has announced the commencement of RED token airdrop claims and staking, allowing users to earn rewards and partner incentives.
According to RedStone, the RED token is now live on Uniswap and several centralized exchanges (CEXs).
Prior to this, Binance had offered trading of the token on its Pre-Market platform, with orders automatically removed after trading ceased. Other exchanges, including Coinbase, Bybit, KuCoin, and Gate.io, have also launched Pre-Markets for the token.
RED Token Airdrop and Staking Now Available
As part of its airdrop initiative, RedStone has allocated 5% of the total RED supply for its first miner airdrop. Additionally, the platform has made adjustments to the selection process, allocating another 2% from the “Ecosystem & Data Providers” pool to community members who were previously excluded.
Eligibility criteria have been expanded, and proof of participation will determine the final recipients. The additional 2% allocation will be available for claiming on March 6, 2025, at 15:00 UTC via RedStone’s official website.
Further, RedStone plans to distribute an additional 4.5% of the “Community & Genesis” token supply six months after the token generation event (TGE).
The airdrop will target users of pools protected by RedStone price data sources, with a formal announcement expected. Eligible projects currently include Euler, Gearbox, Pendle, Venus, Fraxlend, Evaa, and Angle, among others.
Users who claim their RED tokens can stake them within the RedStone AVS (Actively Validated Service), which is powered by the Eigen layer. Stakers will earn RED rewards and partner incentives, with plans to introduce real yield generated from RedStone data users in the future.
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