Binance is one of the largest cryptocurrency exchanges in the world by traded volume, and it announced in January 2020, that it would launch a new token fundraising event every month through its Binance Launchpad platform. Binance Launchpool and Launchpad are platforms that advise and help project teams on how to best launch and issue their token.
Binance Launchpool lets you use your token to earn or farm a new token free of charge. Each day, tokens earned are proportional to the tokens subscribed to a pool. In a total of 30 days, you earn a new token. Within the first seven days, before the token is listed on Binanace.com, you can trade any token you earn.
Daily, the token you earn are distributed. You also get the luxury to add or remove tokens if you so desire to the eligible pools any time. The idea is that you can compile new coins after and before a guaranteed listing free of charge.
What’s next- if you got your token and you are ready to farm? Well, getting started is the next agenda. Check out the guide below on how to get started with Binance Launchpool for both web and on mobile app.
How to get started with Binance Launchpool
- Log into your Binance account and go to their savings page.
- To choose the token you want to use to subscribe, click “Transfer” on the right-hand side of your screen.
- Enter the desired amount of token you would like to subscribe to.
- Confirm the transfer by clicking on “Transfer confirmed” at the bottom right-hand side of your screen.
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- Open the app and locate the “Savings” icon.
- On the token, you wish to subscribe with, click “Subscribe.”
- Enter the amount of token you wish to subscribe to.
- Read the “Binance Savings Agreement” and then click on the box
- Click “Confirm Purchase.”
1. Who can participate in Binance Launchpool?
2. What is needed to participate in Binance Launchpool?
You need to have at least 0.1 BNB or other equivalent tokens supported in a pool to participate in Binance Lauchpool.
3. Which pools do Binance support?
Pools supported for each project will vary, but as a rule of thumb, you can find the list of supported pools on the Binance Launchpad page.
4. Are there any token limits?
Well, as for limit to how much you can stake, there are none, which means you can stake as high as you like. But you need a minimum of 0.1 token to be able to stake.
5. What happens if I already have my tokens subscribed to flexible savings?
If you subscribed your token to a flexible saving before the activity period beginning then you’ll need to make an additional subscription of 0.1 or more to qualify to earn Lauchpool rewards.
6. When do I get the tokens I have farmed?
Tokens are distributed everyday between 00:00 AM and 1:00 AM (UTC).
7. In each pool, how do I see the Annual Percentage Yield (APY)?
Once trading opens, the APY of each pool will become visible.
8. Is it possible to trade farmed tokens immediately?
You can’t trade tokens earned in the first seven days until the project has been listed on Binance.com. As soon as the trade is live from the 8th day onwards, you can trade any token you earn as you get them.
9. Has Binance Lauchpool replaced Launchpad?
No. Launchpool is a new initiative that helps you safely farm new coins from existing assets. Sometimes, you can even run both Launchpool and Launchpad concurrently.
10. How to view your average BNB holdings?
On your project dedicated Launchpad page, you can view your average BNB holdings after the staking calculation period starts.
11. Will the BNB I used to subscribe to Binance Launchpool be counted for Launchpad and any other airdrops etc?
Yes, you will still qualify for VIP benefits, Launchpad eligibility, airdrops, etc.
12. Are the tokens I subscribed to Launchpool locked for 30 days?
No, you can withdraw some or all the tokens you used to subscribe whenever you like. At the same time, you can add to the amount of token you subscribe at any time.
13. Where do I learn more about Binance Launchpool projects?
Binance Research publishes reports on each project hosted on Launchpool. So, you can learn all you need to know there.
Hopefully, this article covers most of the questions that you have. If you have any other questions, feel free to reach out to us.
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