Binance Launchpool的“价格限制机制”测试是红石（红色）令牌

2月25日，Binance宣布，它将在发射池的售前交易中推出“价格限制机制”测试，这项测试是针对Redstone（Red）（红色）代币的。

Binance will test a “price limit mechanism” in the pre-market trading of Launchpool, the first testing token is RedStone (RED), the 64th project of Binance Launchpool, a multi-chain oracle across EVM and non-EVM chains.

Binance将测试发射池前市场交易的“价格限制机制”，第一个测试令牌是Redstone（Red），Redstone（Red），Binance Launchpool的第64个项目，Binance Launchpool是EVM和非EVM链中的多链甲骨文。

According to the pre-market trading rules, Binance stated that in order to promote innovation and enhance the user trading experience, it launched a new feature of the Binance pre-market trading market - the price limit mechanism. This mechanism will limit the maximum trading price in the first 72 hours of the pre-market market, and the token price increase must not exceed a certain percentage of the initial opening price. After 72 hours of the pre-market opening, there will be no price limit and trading will return to normal.

根据市场前交易规则，Binance表示，为了促进创新并增强用户交易体验，它启动了Binance前市场交易市场的新功能 - 价格限制机制。这种机制将限制在市场前市场的前72小时内的最高交易价格，而代币的价格上涨不得超过初始开盘价的一定百分比。经过72个小时的开业，将没有价格限制，交易将恢复正常。

According to the tips, this price limit mechanism is only tested when the RED token is issued, and it is not yet certain whether this function will become a long-term function of the pre-market market in the future.

根据技巧，只有在发出红色令牌时才测试此价格限制机制，并且尚不确定该功能将来是否会成为前市场市场的长期功能。

According to the pre-market trading rules, the maximum position limit for an individual is 5,000 RED. The specific daily limit rules are as follows:

根据前市场交易规则，个人的最大位置限制为5,000红色。特定的每日限制规则如下：

2025-02-28 18:00 - 2025-03-01 17:59 (GMT+8): The maximum order price is 200% of the opening price

2025-02-28 18：00-2025-03-01 17:59（GMT+8）：最高订单价格为开放价格的200％

18:00, March 1, 2025 - 17:59, March 2, 2025 (GMT+8): The maximum order price is 300% of the opening price

18：00，2025年3月1日 - 2025年3月2日（GMT+8）：最高订单价格是开盘价的300％

2025-03-02 18:00 - 2025-03-03 17:59 (GMT+8): The maximum order price is 400% of the opening price

2025-03-02 18：00-2025-03-03 17:59（GMT+8）：最高订单价格为开放价格的400％

After 18:00 on March 3, 2025 (GMT+8): No price limit

在2025年3月3日18:00之后（GMT+8）：没有价格限制

In addition, RedStone (RED), total/maximum supply of tokens: 1 billion RED, total Launchpool supply: 40 million RED (4% of the maximum supply of tokens), initial circulation: 280 million RED (28.00% of the total supply of tokens).

此外，红石（红色），代币的总/最大供应：10亿红色，总发射池供应：4000万红色（占代币供应的最大供应量的4％），初始循环：2.8亿红色（占总供应总量的28.00％）代币）。

The individual hourly reward hard cap is as follows:

每小时的奖励硬上限如下：

BNB mining pool: 66,666 RED

BNB采矿池：66,666红色

FDUSD Pool: 8,333 RED

FDUSD池：8,333红色

USDC mining pool: 8,333 RED.

USDC采矿池：8,333红色。

The daily limit mechanism is designed to deal with the sharp rise and fall of new coins. Is it applicable to cryptocurrencies?

每日极限机制旨在处理新硬币的急剧上升和下降。它适用于加密货币吗？

What Binance calls the "limit-up mechanism" can actually be regarded as a circuit breaker mechanism, but Binance has not yet clarified the time to stop trading. This mechanism originally came from the traditional financial market, and refers to the suspension of trading measures taken by the exchange to control risks when the volatility of the stock index reaches the specified circuit breaker point. Taking the New York Stock Exchange as an example, the New York Stock Exchange has implemented three circuit breaker thresholds, measuring the decline of the S&P 500 index from the closing price of the previous trading day - 7% (level 1), 13% (level 2) and 20% (level 3). When the first two thresholds are reached, trading will be suspended for 15 minutes. At the level 3 threshold, trading will be stopped.

Binance所说的“限制机制”实际上可以被视为断路器机制，但二手币尚未澄清停止交易的时间。这种机制最初来自传统金融市场，指交易所暂停交易措施，以控制股票指数的波动率达到指定的断路器点时，以控制风险。以纽约证券交易所为例，纽约证券交易所已实施了三个断路器阈值，从上一行交易日的收盘价开始，衡量了标准普尔500指数的下降 - 7％（1级），13％（ 2级）和20％（3级）。当达到前两个阈值时，交易将暂停15分钟。在3级阈值时，将停止交易。

Supporters believe that the circuit breaker mechanism helps stabilize market sentiment and prevent investors from overreacting. The daily limit mechanism tested by Binance this time is designed to prevent new coins from experiencing sharp rises and falls when they are listed, thereby reducing extreme volatility and avoiding price surges due to speculation or manipulation. This mechanism is designed to make pre-market transactions more controllable and predictable, and provide the market with enough time to digest information and avoid drastic fluctuations after the opening.

支持者认为，断路器机制有助于稳定市场情绪，并防止投资者反应过度。这次通过Binance测试的每日极限机制旨在防止新硬币在列出时急剧上升和下降，从而降低了极端波动性并避免由于猜测或操纵而避免价格飙升。该机制旨在使市场前交易更加可控制和可预测，并为市场提供足够的时间来消化信息，并避免开放后发生急剧波动。

However, users who oppose this mechanism believe that it may violate the decentralized concept advocated by cryptocurrencies. The volatility of the crypto market is high, and the setting of circuit breakers is challenging in itself. Some users are considering whether a circuit breaker mechanism can be added to the algorithm and design of the currency. However, considering the free market fundamentalist attitude of the cryptocurrency industry as a whole, these ideas are probably not very realistic.

但是，反对这种机制的用户认为，它可能违反了加密货币提倡的分散概念。加密市场的波动率很高，断路器的设置本身就是具有挑战性的。一些用户正在考虑是否可以将断路器机制添加到货币的算法和设计中。但是，考虑到整个加密货币行业的自由市场原教旨主义态度，这些想法可能不是很现实。

In addition, the crypto market is open 24 hours a day and there are multiple trading platforms. If a platform announces the implementation of a circuit breaker mechanism, it may lead to a widening of the price difference between different platforms, thus triggering arbitrage behavior. Crypto user @ChequerCat666 pointed out: "It is useless unless this coin is only listed on Binance, including DEX (decentralized exchange)." However, supportive users believe that it is possible to form

此外，加密市场每天24小时开放，并且有多个交易平台。如果平台宣布了断路器机制的实现，则可能会导致不同平台之间的价格差异扩大，从而触发套利行为。 Crypto用户 @chequercat666指出：“除非该硬币仅在Binance上列出，否则它是没有用的，包括Dex（分散交易所）。”但是，支持用户认为可以形成