Binance has officially announced the introduction of its 64th Launchpool project, featuring RedStone (RED), a multi-chain oracle compatible with both EVM and non-EVM networks. The airdrop for RED tokens is set to begin on Feb. 26, 2025, at midnight UTC, allowing users to stake BNB, FDUSD, and USDC for a two-day period to earn RED tokens.

Trading for RED is scheduled to commence on Binance Pre-Market against USDT on Feb. 28, 2025, at 10 a.m. UTC. Details regarding the subsequent spot listing will be released at a later date.

As part of the announcement, Binance has cautioned users about the potential for scams related to the new token. The exchange reiterated that it will be the first platform to list RED, urging users to verify any information they encounter.

In light of the upcoming launch, Binance has advised its user base to be vigilant against fraudulent claims that may offer RED tokens before the official trading date.

This warning is part of Binance’s ongoing efforts to ensure user safety amidst the growing prevalence of scams in the cryptocurrency space.

The launch of RedStone on Binance’s Launchpool represents a significant development in the broader crypto market, as the platform continues to expand its offerings for users.