Binance Launchpool is a platform within the Binance exchange where users can earn tokens from new projects by staking their BNB or other compatible assets. It is a way to "farm" free cryptocurrencies, allowing participants to obtain new tokens without needing to buy them.
How Binance Launchpool works:
Participation: Users must access the Launchpool section on Binance.
Project selection: A cryptocurrency project is chosen to participate in. $SOL
Asset staking: BNB or other compatible assets are staked in a specific pool of the project.
Token generation: In exchange for staking the assets, project tokens are received as a reward.
Reward withdrawal: Once the farming period is over, the tokens and the staked assets can be withdrawn.