Member Info for Spookyf2sh

KR1 plc

("KR1" or the "Company")

Holding Update: RedStone ("RED")

KR1 plc (KR1:AQSE) is pleased to provide an update on the Company's RedStone ("RED") holding.

RedStone is a decentralised oracle that delivers fast, secure, and scalable data feeds for the digital asset industry, ensuring that decentralised applications are powered by reliable, real-time information. Following its launch today, the RED token forms the foundation of RedStone's decentralised oracle infrastructure, with staking of the RED token adding a robust layer of economic security to RedStone's oracle stack.

As of today, KR1 plc holds a total of 25,454,545 RED, acquired through previous token purchases during two of RedStone's funding rounds, as announced by the Company on 29 July 2021 and 1 September 2022.

All RED tokens held by the Company are subject to a lockup schedule with an initial lock of 12 months from the launch and, following that, a gradual release from the lockup over a period of a further 18 months.

KR1 plc is further pleased to announce its intention of commencing staking activities for RedStone as the RED tokens are received from the unlock as detailed in the previous paragraph.

By leveraging RedStone's EigenLayer Actively Validated Service, the RED tokens can be staked by token holders and data providers to strengthen RedStone's network security and provide data to its oracle network.

Up to $0.80

Cap raised to $0.60 now

Others on twitter speculated between 0.5 - 1% of total supply so 5-10 million tokens.

Price increase capped at 100% on the first day so could go much higher once cap taken off

$RED up 100% already

New tweet from redstone

RED is coming to Binance.

Pre-Market starts 2025-02-28 10:00 (UTC).

More information coming soon, follow @redstone_defi

Google "red tokenomics" first link dated 12th feb

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