Binance has delayed the listing of RedStone's RED token due to last-minute changes in the allocation of its community airdrop distribution. Initially, RedStone had committed to airdrop 9.5% of the total RED supply, but only 5% was distributed, with the remaining 4.5% now planned for distribution to partners' users after six months. Additionally, RedStone announced an extra 2% allocation from its ecosystem supply to address community concerns. The RED token, central to RedStone's blockchain oracle ecosystem, supports staking through the EigenPie vault and offers multi-asset rewards. The token was set to launch on multiple exchanges, including Binance, KuCoin, and Bybit. Binance's suspension has delayed the token's trading start time, which is now expected to resume at 16:00 UTC on March 6, 2025. Community backlash has intensified following the suspension, with critics questioning RedStone's airdrop policies and governance. Binance stated that the delay was necessary to address these concerns and ensure transparency.
Sub 30 mins delivery for the oracle enjoyoors ♦️ $RED, the token of @redstone_defi, is live on Pyth and permissionlessly available on 100+ chains with @tradeparadex as early user. https://t.co/ef0bSiuYsn
Redstone faces backlash from the community after Binance suspends its RED token listing due to a major airdrop cut. What does this mean for crypto enthusiasts? #cryptonews #Binance #Airdrop https://t.co/gLZA974aXS
New Futures Listing is LIVE! $RED | @redstone_defi Trade long or short with up to 5x leverage 🤯 Try @_WOOFi @saros_xyz @RaydiumProtocol @vooi_io @whatexchange @bitoro_network @NaviExSonic https://t.co/QlO0StHtUB