What is Launchpool?
Launchpool is a token distribution platform where new crypto projects offer their tokens to users for free or at a discount in exchange for staking.
here's how It works:
1. Project Announcement: A new project is announced on the Launchpool.
2. Supported Pools: Binance lists one or more pools (e.g., BNB Pool, FDUSD Pool).
3. Staking Period: You can stake your coins for a fixed number of days (usually 30).
4. Daily Rewards: You receive new tokens daily based on:
Amount staked.
Total amount staked in the pool.
5. Unstaking: You can unstake at any time. There's usually no lock-in.
Why People Use Launchpool:
Free token rewards without risk of losing the staked asset.
Early exposure to new coins that may grow in value.
Passive income while holding long-term tokens like BNB.
Example:
You stake 10 BNB in the "Project XYZ" Launchpool.
Each day, the pool distributes 100,000 XYZ tokens proportionally.
You earn a portion daily based on your share in the pool.
Tips:
Watch out for price drops in the new token after listing.
APY (Annual Percentage Yield) fluctuates based on pool size.
Ideal for HODLers who already hold BNB or
follow for more...
happy trade!