Binance Exchange has built an entire ecosystem of services to cater to the various needs of cryptocurrency investors. If you’ve been using Binance for some time, you’ve likely had the chance to experience both Binance’s Launchpad and Launchpool products. These are two platforms created with the aim of supporting the cryptocurrency ecosystem by providing Binance users easy access to potential cryptocurrencies. In this article, we will delve into what Binance LaunchPool is, explore the differences between Launchpad and Launchpool, and reveal some of the most promising Binance LaunchPool projects currently available.
Contents
- 1 What is Biannce LaunchPool? Launchpad vs Launchpool
- 1.1 What is Binance LaunchPool?
- 1.2 Key Features of Binance LaunchPool
- 1.3 How Binance LaunchPool Works
- 1.4 Conditions for Participating in Binance LaunchPool:
- 1.5 Differences between Binance LaunchPad and Launchpool
- 1.6 How to Participate in Binance Launchpool
- 1.7 Top potential coins on Binance Launchpool
What is Biannce LaunchPool? Launchpad vs Launchpool
What is Binance LaunchPool?
Binance LaunchPool is a secure money-making feature for users of the Binance cryptocurrency exchange. This method allows Binance users to stake Binance Coin (BNB), Binance USD (BUSD), or other tokens, depending on the requirements of each project, to earn new tokens for free.
Typically, tokens listed on Binance LaunchPool are soon listed on the exchange. Therefore, participants in the LaunchPool can potentially gain certain profits.
Key Features of Binance LaunchPool
You have learned what Binance LaunchPool is. It is a feature that allows Binance users to earn profits by staking coins/tokens. Therefore, this platform will have some notable features:
- Easy Token Farming: To earn a new batch of soon-to-be-listed tokens, participants only need to stake BNB, BUSD, or other tokens into the pool and wait to claim rewards. The number of tokens earned will be proportional to the total amount of tokens staked in each pool.
- Flexibility in Staking: Users can stake existing tokens to farm new tokens, or they can unstake at any time they wish.
- Support from Binance for Cryptocurrency Projects: Projects appearing on Launchpool have access to Binance’s top-tier support system.
- Benefits for Users and Projects: With various advantages, projects on Binance LaunchPool can increase their valuation and provide additional benefits to users, contributing to building a strong community with fundamental principles for the project.
How Binance LaunchPool Works
The operation of Binance LaunchPool is relatively easy to understand and straightforward. Specifically, when you stake BNB or BUSD, Binance receives these tokens from you, and the exchange pays a predetermined amount of rewards per hour based on the ratio of your staked BNB/BUSD to the total BNB/BUSD staked in each pool.
Within the next 30 days, you can receive new tokens from the project you participated in. These tokens will be listed on Binance over the display time in Launchpool. At this point, you can trade the tokens you earned through staking.
Conditions for Participating in Binance LaunchPool:
-
An already KYC-verified Binance account (if you don’t have an account, you can register here).
-
Available BNB/BUSD or other tokens as per each project’s requirements (quantity depends on the pool you are staking in).
Differences between Binance LaunchPad and Launchpool
What is the difference between LaunchPad and Binance Launchpool? These two forms have many similarities. Both are functions provided by the Binance exchange, with the purpose of raising capital for quality projects and providing opportunities for investors to earn attractive profits on potential coins.
However, they have a key difference: When participating in Launchpad, you need to use BNB, BUSD to buy newly listed tokens, while with Binance Launchpool, users don’t spend anything; they just need to lock BNB, BUSD for the duration of the event.
- Binance Launchpad: Launched in 2019, it has supported 32 projects (as of the writing date 15/11/2023), with the 32th Arkham (ARKM). Binance LaunchPad is a platform supporting initial token sales (ICOs) for cryptocurrency projects with good technology, helping users access potential cryptocurrency projects. Read more: What is Binance Launchpad?
- Binance Launchpool: Launched in September 2020, it has supported 36 projects (as of the writing date), with the latest project being SeI (SEI). Launchpool is essentially a platform that allows users to stake their cryptocurrency assets to receive cryptocurrency rewards. This process is also known as yield farming.
So, should you participate in Launchpad or Launchpool?
Both Binance Launchpad and Binance Launchpool support promising and trustworthy cryptocurrency projects, aiming to create a better and safer cryptocurrency ecosystem for investors. However, they are fundamentally different in several ways. Therefore, we cannot accurately compare them and decide which one is better because each has its own purpose and benefits.
If you want to support new and reliable cryptocurrency projects, you should participate in Binance Launchpad and choose a project to invest in. Meanwhile, if you have some reserve tokens and are looking for passive income opportunities, then Binance Launchpool is a better choice.
How to Participate in Binance Launchpool
Step 1: Log in to your Binance account and click on the navigation button – select [Launchpad].
Step 2: Scroll down to find [Launchpool] and the list of current and completed projects.
Step 3: Continue scrolling and click on [View More] in [Launchpool].
How to participate in a Launchpool project?
Let’s take Flamingo (FLM) as an example. On the Launchpool page, you can see the available staking options to farm FLM. For example, [Flamingo BNB] means you can stake BNB to farm FLM. Click on [Stake Now] to participate.
Here, you can view the project’s reward information and the estimated annual percentage yield (APY) ratio.
My Funds shows the assets you have staked. [Available] indicates the balance available for staking in the Spot Wallet. If you don’t hold BNB, you can click on [Buy BNB].
Then, click on [Stake] to stake BNB for farming FLM. You can withdraw your assets at any time by clicking on [Withdraw]. To view the stake profile, click on [Stake History].
- My Rewards shows the earned rewards that you have not claimed (updated hourly). You can click on [Rewards Claimed] to receive the earned tokens in your Spot Wallet whenever you want. To view claimed rewards or allocation history, click on [Distribution History].
Some Frequently Asked Questions when participating in Binance Launchpool?
Supported pools will vary depending on specific projects. You can view the list on the Launchpad project page.
Binance Launchpool does not specify a maximum limit; participants can stake any desired amount of tokens. However, the minimum staking amount for each token is 0.1 (e.g., 0.1 BNB).
Check under: APY (Annual Percentage Yield) is displayed when the new token is available for trading.
No, you can’t. Users can only trade these tokens once they are listed on Binance.
Certainly not, you have the right to withdraw anytime you want. Moreover, you can also stake additional tokens if you wish.
Top potential coins on Binance Launchpool
As mentioned earlier, as of now, Binance has supported a total of 31 LaunchPool projects, and many of them are still highly regarded by the community (although their yield farming periods may have ended).
Sei
Sui
Pendle
Radiant Capital
BTC Standard Hashrate Token
Shentu
Reef
Galxe
Alien Worlds
DODO
Venus
Stella
Mobox
My Neighbor Alice
BENQI
Litentry
Flamingo Finance
Unifi Protocol DAO
Bella Protocol
Automata
Anchor ProtocolHere are some of the most notable names you may consider researching and investing in:
- SEI (Sei NetWork): Sei is a Layer 1 blockchain designed for trading activities such as derivatives and spot trading. They chose to build on Cosmos SDK to leverage technology from Tendermint, IBC, etc., to create a complete and scalable decentralized trading ecosystem.
- SUI (Sui NetWork): Sui Network is a Layer1 blockchain designed to address issues around Web3. Sui aims to “serve the next billion users on Web3” and provides options for deploying decentralized applications (DApps), competing with existing smart contract chains like Ethereum.
- RDNT (Radiant Capital): Radiant Capital is a Lending Protocol project operating on the layer 2 chain Arbitrum. Radiant aims to become the first Money Market using an omnichain model, allowing users to borrow and lend assets on any chain.
- FLM (Flamingo): a full-stack Defi protocol that can interact, operating on the NEO blockchain. Flamingo aims to become a decentralized financial tool for Neo, and it will create a user-managed ecosystem through a decentralized autonomous organization (DAO).
- UNFI (Unifi Protocol DAO): a group of multi-chain smart contracts that can interact, decentralized, and unsupervised (non-custodial). The purpose of Unifi (UNFI) is to act as a bridge to connect Ethereum’s DeFi products with the DeFi market developed on other blockchains.
- MBOX (MOBOX): is a gamefi platform focused on the community, combining the best of Defi and NFTs to create a unique, interesting blockchain gaming system that is “Free to Play” and “Play to Earn.” MOBOX has completed a decentralized ecosystem of its own. This ecosystem includes: Wallet, GameFi, NFT Ecosystem, Asset Portfolio Manager, Participation Rewards, and MOBOX Social.
- ALICE (My Neighbor Alice): a building game with multiplayer features, where anyone joining the game can buy and own virtual islands, then collect and build “their own world,” especially being able to meet and interact with other players.
- HFT (Hashflow): a decentralized exchange (DEX) supported by a request-for-quote (RFQ) pricing model, with many advantages including the ability to interact cross-chain, low transaction fees, high liquidity, and no price slippage.
- GAL (Galxe): is the world’s largest Web 3.0 authenticated data information network. It helps Web 3.0 projects and developers build better products and communities by using authenticated data information.
- KLAY (Klaytn): is a blockchain platform designed for the Korean market, with the goal of becoming an ecosystem where startups can build their ideas and ICOs can be launched in a low-risk environment with maximum rewards.
- TLM (Alien Worlds): a metaverse virtual world, simulating a world outside the universe, where people fight each other to compete for a rare resource called Trilium (TLM coin).
- DAR (Mines of Dalarnia): an action-adventure game, leveling up in the context of the MoD universe. Here, players can mine, complete missions, mine rare items, fight monsters in various terrains to unlock secret bases.
- Some fan tokens: In addition, Binance Launchpool also supports some famous fan tokens such as: ASR (AS Roma Fan Token), JUV (Juventus Fan Token), ATM (Atlético de Madrid Fan Token), OG (OG Fan Token), CITY (Manchester City Fan Token), PSG (Paris Saint-Germain Fan Token), SANTOS (Santos FC Fan Token).
These are the details about what is Binance Launchpool. I hope that through this article, you have a clear understanding of the Binance Launchpool platform, as well as recognizing the differences from Binance Launchpad. If you have any further questions, feel free to leave a comment below for me to answer. Thank you for reading, and I wish you successful investments.
