Binance is one of the largest exchanges in the world. In addition to trading cryptocurrency, it is also possible to trade with leverage, stake your Binance coin via the Binance Launchpad and take advantage of new tokens.
In this article, we have detailed everything you need to know about the Binance Launchpad, a new method for new projects to raise funds.
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What is Binance Launchpad?
Binance has long been the largest exchange in the world and this has seen countless traders seek the platform for their crypto purchases. This has created a very interesting trading point for new projects to come to the exchange. They come into direct contact with all these traders which does wonders for the popularity and the price.
A very convenient way for projects to do this is through the Binance Launchpad. Instead of holding an ICO on its own website, the token sale is conducted on Binance itself. Binance users can participate exclusively in the token sale of the new project with the amount of Binance coins they have.
This is very interesting for fresh projects, because all these new investors come into contact with the debuting tokens immediately. Compared with a launch on a few smaller exchanges, the awareness is far significant and greater.
Why Should I Use Binance Launchpad?
The Binance Launchpad is the well-chosen name for the launch pad for new coins or projects via Binance. So do you have a project in the pipeline and are looking for the ideal springboard for a large group of crypto investors? Then you might be able to sign up with Binance.
The Launchpad, as its name implies acts as a springboard for new projects that want to gain exposure. If you are selected as a project, Binance will assist you with advice and assistance.
They promise to assist with the marketing and expose the project to the millions of Binance users worldwide. Even after the Launchpad listing, you are part of the Binance family as a project and there would be several opportunities to enter into other Binance partnerships
What Tokens Have Benefitted From Binance Lauchpad?
It is interesting for investors to participate in this because the token sale is exclusive on the Binance exchange. So you are the first to be there.
In the past, a lot of tokens have already increased exponentially in value via the Binance Launchpad. Some examples of this are:
At the token sale of Injective Protocol on the Binance Launchpad, 1 INJ was sold for 0.013 BNB. The price currnekty stands at 0.22 BNB. An increase of 1692%.
Alpha Finance Lab
At the token sale of Alpha Finance Lab you could buy 1 ALPHA for 0.00073 BNB. Now the ALPHA rate is at 0.047 BNB. An increase of 6438%.
During The Sandbox ‘s Launchpad token sale, 1 SAND was sold for 0.00038 BNB. The exchange rate is now at 0.002 BNB. This is an increase of 526%.
Kava was sold for 0.0258 BNB during the first sale on Binance. The price is now at 0.056 BNB per KAVA coin. This is an increase of 217%.
In total, over 22 coins have been launched on the platform so far. These can now all be traded on the Binance exchange and have benefited investors.
How Does Binance Launchpad Work?
Participating in a Binance Launchpad token sale is very easy. The most important thing to do is to hold a certain amount of Binance Coins in your binance account. A lottery is often used.
Over a certain period, the average amount of BNB you have had in your account is checked. For this you can claim a lottery ticket and buy tokens after this period. This has been devised to ensure the most fair distribution system possible.
A handy tip here is that you can store your Binance Coin in your Binance Vault . They count in this case and so you still receive rewards while you have Binance Coins in your account.
How Do I Join Binance Launchpad?
- Go to Binance
- Deposit or buy Binance Coin into your account
- In the menu under ‘Finance’, choose ‘Binance Earn’. Under ‘Flexible durations’ click ‘Launchpool’ and ‘show more’
- Here you can see the Launchpad and historical tokens.
- By clicking on ‘View Details’ you can read more about the distribution and the terms and conditions of the token sale
To participate, it is wise to have as many BNB tokens as possible in your account, for example in the Binance Vault. You must also have done your KYC.
The Binance Launchpad is an interesting way to be the first to buy certain coins before they can be traded on the market, since first investors often make the biggest profits.
What is the Difference Between Binance Launchpad and Launchpool?
Although both can be found under the same name, there is still a difference between Launchpad and Launchpool.
Launchpad is the place where (often) new BEP20 tokens are launched.
BEP20 tokens are the default tokens on the Binance Smart Chain, just like ERC20 tokens are the default tokens on the Ethereum blockchain. Initially, all registered users with Binance Coin (BNB) can opt in to purchase the new token.
Based on the number of potential buyers, the number of BNB they own and the maximum number of tokens that will be sold, it is calculated how many everyone can or may buy.
Once that calculation has been done, the token is sold and distributed among the participants. As a final step, the token is listed on the Binance.com exchange.
The last token launched in the Launchpad was the Tokocrypto token. Tokocrypto is the largest Indonesian crypto exchange in which Binance invested in in 2020.
The Launchpool is a form of staking existing coins or tokens, a lottery equivalent.
Projects can apply to be listed here. The selected project then makes a large number of its coins or tokens available. Binance then gives its users the option to strike.
This means that they temporarily lock (stake) other coins and receive an interest in the form of the coin in the Launchpad.
BNB is the fixed asset to stake, but the stablecoin Binance USD (BUSD), Polkadot (DOT) and Chiliz (CHZ) are also alternate options to stake and earn interest.
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