GuShiio.com A battle of red and black, a test of community trust and market rules.
“Red and black are the intertwining of ambition and reality, the collision of desire and ruthlessness. rdquo;–“Red and Black”
In the crypto market, the rise and fall of prices is a never-ending game; and the success or failure of a project is more like a battle of trust and suspicion.
As depicted in the famous book “Red and Black”, red symbolizes passion and hope, while black represents shadow and crisis.
When we turn our attention to RedStone, a project recently launched in Binance Launchpool, the contrast between red and black is particularly stark:
As a representative of the new cross-chain oracle, RedStone has previously attracted market attention with its innovative multi-chain architecture and strong investment background (including Coinbase Ventures and Blockchain Capital).
In the past week, this red stone once became a bright spot in the dull market, and its token RED once performed red in the pre-currency market.
However, as the heat heats up, issues such as airdrop disputes and pre-market price changes that have been hotly debated in social media have gradually been exposed, making this red stone gradually blackened in the eyes of some community members.
A battle of red and black, a test of community trust and market rules.
Red stone in the daily limit test
In the crypto market, innovation is often the key to attracting attention.
The Price Cap Mechanism launched by Binance for RedStone (RED) has undoubtedly become the biggest highlight of this experiment.
On February 25, 2025, Binance announced that it would test this mechanism in pre-market trading in Launchpool, aiming to control volatility by limiting price increases and avoid the Christmas tree that everyone has been accustomed to recently in the early stage of token issuance. Violent fluctuations.
Since RED was launched in the pre-market market, this mechanism has quickly ignited market popularity.
In three consecutive days of trading, RED’s price repeatedly hit the daily limit limit. After the price limit was lifted, it once soared to US$1.4, becoming the focus of the pre-market market.
As of now, RED is currently trading at US$0.83, with a market value of US$33 million, and a fully liquid market value of US$830 million. For a project that has just been launched in the middle of a bearish market, the initial performance is indeed outstanding, and it also gives everyone the feeling that even the daily limit cannot contain the rise.
If you can make money, everyone naturally likes it.
The daily limit mechanism has indeed brought market popularity to RED, but behind this popularity, its applicability still needs to be tested.
While the continued rise in prices has attracted a lot of attention, it may also conceal potential problems that could ferment in the community.
Black spots in airdrop controversy
The entanglement point of interests is still airdrops.
In previous gameplay, RedStone launched three expeditions through Zealy and Discord platforms, requiring community members to complete different tasks, such as reading technical documents, writing analytical articles, making image materials, and even continuously exporting content during the Spring Festival holiday.
These tasks are advertised as opportunities to build an ecosystem, and community members earn RSG points by completing the tasks. RedStone promises that these points will be key credentials for future RED token airdrops.
To put it more bluntly, this wool is a little bit fat.
According to its Token Economics (RED Token Economics), RedStone plans to allocate 48.3% of its tokens to ecosystems and communities, 10% of which will be used for initial community claims, which is highly expected by community players.
However, on March 5, 2025, when RedStone announced the results of the airdrop, the enthusiasm of the community quickly cooled.
Officials announced that only 2.19% of community members (a total of 4386 people) received RED token rewards, and the RSG points of the remaining large number of players were ruled invalid. In the end, Gan Di seemed to have nothing.
If you don’t suffer from a shortage, you may gain nothing from a liver mission, but if you have an identity, you may get an airdrop.
According to RedStone’s official post, identity in Discord became the key to obtaining airdrops. Eligible roles include Vein Master, Deep Miner, Professor, IRL (participated in offline activities), etc. Public data shows that only 2% of the people in the project DC group have the above roles.
Therefore, based on the total number of people in the community of about 230,000, the people who can get this airdrop are the 4000+ mentioned above.
As soon as the results of the airdrop were released, dissatisfaction among community members in various social media began to spread.
Some netizens ridiculed themselves and said,”Please don’t worry if you didn’t get the RED airdrop, because you will never walk alone.”
The more angry players directly began to complain. For example, some black posts were quickly forwarded in the Chinese and English communities, with sharp strokes and even hostile words, pointing to RedStone’s use of squeezing to harvest community users.
As a neutral observer, I have no way to verify whether the accusations in these posts are true; but the grievances of the community cannot be ignored. After all, stories that water can carry a boat but also overturn it are frequently played out in the encrypted world.
But in essence, the anger of the community is, to put it bluntly, that I worked hard but was not qualified.
Even if many users accumulate millions of points, they are still excluded and regarded as invalid labor: the reward ratio of only 2.19%, highlighting the cliché problem of airdropping PUA, that is, projects guide users to labor through high-intensity tasks before the token goes online, but did not fulfill their promises fully as expected.
When the efforts of community members are gradually relegated to victims of digital bonded workers, players in the game will naturally feel that they have been paid by the PUA to work for free to promote the project. Finally, the fruits of the revolution will be stolen by people with more status.
Pre-market price movements
On the premise that the above-mentioned airdrop makes community members unhappy, if there is any abnormality in the token price, it will obviously deepen everyone’s misunderstanding and distrust.
This afternoon, some community members posted screenshots showing that RED’s price curve in the pre-market market showed a very outrageous shock, which was completely different from normal price trends.
Subsequently, the well-known KOL @_FORAB also discovered a similar problem and speculated that there seemed to be a problem with RED’s market maker, with a large number of pending orders withdrawn, resulting in a large wave of high price differences.
This situation can also easily lead people to mistakenly believe that market makers are playing a one-man show, pulling prices back and forth, without a proportional number of retail competitors.
However, Stephen, RedStone’s Chinese district community manager, later clarified in the comment area that the problem was not caused by a market maker. RED does not have market makers to participate in the pre-market market. The price change is actually caused by the design of the trading rule that each person can only trade 5000 REDs.
Subsequently, Binance officially responded that the RED/USDT limit order function failed between 11:39 and 12:09 on March 6, 2025, but the market price order function was working normally and the platform has been repaired.
Judging from the results, although the matter did not stem from market maker manipulation, given the current unstable mood in the RedStone community, the violent fluctuations in prices have also caused the manipulation theory to spread rapidly in the community.
Although both RedStone and Binance have clarified the actual causes of the problem, in the crypto market, retail investors tend to prefer conspiracy theories rather than technical explanations. This public opinion effect further exacerbates the sense of distrust in the community.
summary
With the word “profit” in mind, there is always a delicate relationship between project parties and communities in the crypto industry: they need each other, but sometimes they feel that they are hurting each other.
From its innovative multi-chain architecture to Binance’s daily limit mechanism, to airdrop disputes and price changes, this project has experienced a high degree of market attention in a short period of time and suffered a severe test of community trust.
The results of RedStone’s airdrop disappointed most participants and even raised doubts about PUA-style squeezing. This sentiment is highly contagious in the crypto market, especially in environments where communities are highly sensitive to fairness.
For RedStone, the challenge ahead is how to repair community relations and establish more transparent and robust mechanisms at the technical and operational levels.
Perhaps, looking at this round of encryption projects from a larger perspective requires not only technological innovation, but also profound insight into community sentiment and comprehensive optimization of market rules.
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