Binance, the world's leading cryptocurrency exchange, announced the launch of its 69th project on the Launchpool platform, which is Space and Time (SXT). SXT represents an interesting addition to the Binance ecosystem, offering users the opportunity to earn SXT tokens simply by staking their existing crypto assets.
What is Space and Time (SXT)?
Space and Time is a blockchain project backed by Microsoft that focuses on zero-knowledge proofs (ZKPs), enabling verifiable database operations tied to smart contracts. The project aims to provide secure, scalable, and verifiable data infrastructure for Web3 and traditional enterprises.
How to participate in Binance Launchpool SXT
To participate in SXT Launchpool, Binance users must follow these steps:
* Update the Binance App: Ensure you are using version 2.89.0 or higher of the Binance app to access the latest Launchpool features.
* Prepare eligible assets: SXT Launchpool supports three different assets for staking and earning rewards:
* BNB: 85% of total rewards (106,250,000 SXT)
* FDUSD: 5% of total rewards (6,250,000 SXT)
* USDC: 10% of total rewards (12,500,000 SXT)
Ensure you have sufficient balances of any of these assets in your Binance spot account before the staking period begins.
* Access the Launchpool page: Go to the "Earn" section in the Binance app or the "More" menu on the Binance website and select "Launchpool". Find the Space and Time (SXT) project card and select it.
* Stake assets: Select the pool(s) you wish to participate in (BNB, FDUSD, or USDC). Enter the amount of tokens you wish to stake in the pool. Confirm your participation by clicking the "Lock" button. You can participate in multiple pools at once, but each token can only be staked in one pool at a time.
* Monitor reward claims: Once the staking period begins on May 6, 2025, at 00:00 (UTC), your rewards will be accumulated every hour. Binance will take snapshots of user balances every hour to calculate rewards. You can view your accumulated SXT tokens in the Launchpool dashboard and claim your rewards at any time by clicking the "Claim" button. The claimed tokens will be instantly transferred to your spot account.
Important Dates
* Staking Period: Begins on May 6, 2025, at 00:00 (UTC) and lasts for two days.
* Listing Date: SXT will be listed on Binance on May 8, 2025, at 13:00 (UTC).
* Trading pairs: SXT/USDT, SXT/USDC, SXT/BNB, SXT/FDUSD, and SXT/TRY.
Token Distribution
A total of 2.5% of the total supply of SXT tokens (5 billion tokens) will be distributed as rewards through Launchpool, distributed as follows:
* 106,250,000 SXT for my BNB stash (85%)
* 12,500,000 SXT for my USDC stash (10%)
* 6,250,000 SXT for my FDUSD stash (5%)
The maximum number of tokens a single user can earn during the staking period is 221,354 SXT.
Function of the SXT token
SXT will play a central role in the Space and Time ecosystem. It will be used to pay access fees for data services and computing resources, incentivize node operators, and participate in protocol governance.
Summary
Binance Launchpool SXT offers an exciting opportunity for users to gain early exposure to a promising token backed by an innovative project focused on solving data challenges in the blockchain space. By staking BNB, FDUSD, or USDC, participants can earn SXT tokens before their official listing on Binance.
