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What is Binance Launchpool?
Binance Launchpool is a platform launched in September 2020, allowing users to stake BUSD, BNB or other tokens supported in the pool to receive new tokens listed on the platform. Binance exchange free.
As of the first half of 2022, there are already 29 active projects on Binance Launchpool. In which, there are some tokens with outstanding annual return such as PSG on CHZ pool with 113%, MC on MC pool with 85.86%, MBOX on MBOX pool with 56.43%…
So how can these projects achieve such growth? By choosing to offer their tokens on Binance Launchpool, crypto projects will receive the following benefits:
- Increased credibility thanks to Binance’s rigorous review and censorship process.
- Reach a huge user base on Binance.
- Increase the liquidity and application of the token by connecting to the Binance ecosystem (projects, products, services…).
- Use Binance marketing resources.
As of March 2021, many potential tokens on Binance Launchpool have achieved very high growth such as ALPHA increased 86 times, BTCST increased 38 times, LIT increased 31 times… Based on the data collected by Binance, the projects above Binance Launchpool achieved an overall growth of 682.53% for the value of tokens allocated on Launchpool.
Access to Binance Launchpool: launchpad.binance.com/en/viewall/lp
Besides Binance Launchpool, Binance Launchpad is also a platform for projects to raise capital. Accordingly, instead of staking assets in the pool to receive free tokens, Binance Launchpad allows users to buy tokens depending on the amount of BNB the user commits. If you are still wondering if there is a difference between Binance Launchpool and Binance Launchpad, the next section will help you answer this question.
Learn more: What is Binance Launchpad?
Similarities of Binance Launchpool and Binance Launchpad
Binance Launchpool and Binance Launchpad are both platforms developed by Binance and serve the following purposes:
Access to quality projects
Before being confirmed and approved, each project listed on Binance Launchpool and Binance Launchpad is thoroughly tested. Therefore, users can access prestigious and quality projects.
Some of the criteria considered by Binance are:
- The business model of the project and the economic model of the token.
- Brief history of the development team.
- The development project is at a relatively mature stage.
- The project is suitable for large-scale application.
- The project has the potential to benefit the growth of the crypto community.
Reach the vast crypto community
Both Binance Launchpool and Binance Launchpad help support and drive crypto projects to grow in their infancy. These projects have the opportunity to reach millions of users around the world, and have access to Binance’s support system. Many projects have achieved very high growth through these two platforms.
Safe and secure
Binance is one of the exchanges that invest a lot in user security and token sales. Therefore, the projects on Binance Launchpool and Binance Launchpad are highly secure and at low risk of being attacked by bad guys.
Difference between Binance Launchpool and Binance Launchpad
For Binance Launchpool, users will receive new tokens for free by staking crypto assets.
Users can get new tokens listed on Binance by staking existing assets and receiving these assets back later. This activity is intended to incentivize users to own Binance tokens such as BNB and BUSD, and to allow these users the opportunity to earn profits based on available assets.
Staking assets in the pool is intended to support liquidity for these pools. The number of tokens users receive is correlated with the number of tokens they have staked and the total amount of tokens in the pool. These pools are usually valid for about 30 days. Token rewards are calculated hourly and users can claim (receive) rewards or withdraw money at any time. After 7 days of farming, these tokens can be traded on Binance.
BNB users participating in Launchpool are still eligible for airdrops or VIP benefits…
For Binance Launchpad, users will be able to buy IEOs thanks to the amount of BNB held and committed.
Initially, Binance Launchpad operated on a first-come, first-served basis. This is an unfair method of distributing tokens, especially in cases where there are several users holding large amounts of tokens. As a result, Binance has upgraded the token allocation method to a more sophisticated lottery system.
As soon as a new IEO is announced, the system will take a snapshot of the BNB holdings. Binance does so for a certain period of time, which varies from sale to sale.
When the BNB holding period expires, the launch panel will display the button “Claim ticket“. This button lasts for 24 hours, during which time the user can confirm their ticket. Once the tickets are confirmed, the lottery process will begin. Winning tickets will automatically allow users to participate in the IEO to get their BNB tokens back.
Binance Launchpool and Binance Launchpad have different ways of working, but they both have the same goal of benefiting users. Depending on personal preferences and financial capabilities, users can choose for themselves the appropriate method.
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