RedStone's Latest Move Sparks Controversy and Recovery

In a surprising turn of events, RedStone made changes to its RED token airdrop without prior notice, leading to Binance halting its listing. The abrupt decision resulted in a sharp drop in price and discontent among community members, prompting a swift response from the project.

To amend the situation, an additional 2% of RED tokens will be distributed today, with Binance resuming their listing as usual. While the price has begun to recover, lingering resentment within the community remains a concern.

RedStone, a decentralized finance (DeFi) oracle project, had garnered significant attention within the crypto community in recent months, particularly with endorsements from prominent figures in Liquid Staking.

Upon the launch of its native token RED, the project faced setbacks as the announced airdrop allocation was reduced last minute, leading to Binance's refusal to list the token at the scheduled time.

The controversy sparked by RedStone's abrupt change in airdrop allocation was further exacerbated by Binance's decision to suspend the token's trading start time. This development elicited strong reactions from supporters, highlighting issues of transparency and eligibility within airdrop distributions.

Following Binance's suspension, RedStone took steps to address the community outcry and revised its airdrop plan, ensuring the distribution of the remaining tokens over a specified timeline. With 5% of RED tokens already distributed and an additional 2% set for airdrop today, Binance subsequently relisted the token, leading to a rebound in its price.

While the initial turmoil may have impacted RedStone's reputation, the project's prompt actions to rectify the situation have been noted. As the price of RED fluctuates post-correction, the community remains watchful of the project's future moves.

[Imagery and Data Source: CoinMarketCap]

Discover leading crypto platforms: - TonTrader - Phemex - Margex - BingX - Сoinex