Binance Launchpad, the cryptocurrency exchange's exclusive token launch platform, plans to alert customers to around one new token launch every month in 2019, beginning with BitTorrent and Fetch.AI, among other projects.
A platform for token launches, such as the Binance Launchpad, assists blockchain projects in raising funds and expanding their exposure within the cryptocurrency ecosystem. It accomplishes this by making a project's tokens available to as many as 10 million Binance users at a time. With this platform, it provides users with the opportunity to participate in projects that have the potential to change the world.
Binance Launchpad is more than just a platform for the issuance of digital tokens. It also includes a comprehensive advising service for projects that will benefit from our knowledge and experience. It makes certain that the projects may concentrate their efforts where they are most needed: on improving their product and boosting user acceptance.
The blockchain ecosystem, like any other technology-related subject, is constantly brimming with promising ideas and projects that are just waiting to be discovered and developed further.
This is not the first time Binance has provided support for these projects, whether through its startup accelerator Launchpad or through venture capital arm Binance Labs, which now sponsors 21 businesses, or directly through Binance itself, like in the cases of Trust Wallet and TravelbyBit.
Soon to be available on Binance Launchpad: BitTorrent and Fetch.AI
The peer-to-peer file sharing protocol BitTorrent is built on the TRON blockchain. Content creators are being empowered by BitTorrent's technology to immediately share their work on the internet.
Allowing peers to reward acts that improve file sharing, such as using faster networks and permitting longer seeding periods, will be made possible via BitTorrent's new BTT Token Each of their 100 million monthly active users (MAUs) in 138 countries would benefit from this integration of BitTorrent's "peer-to-peer network" and the TRON blockchain network, which includes a bespoke token and an in-client token economy.
Decentralized blockchain network Fetch.AI, a venture of Outlier Ventures, employs autonomous economic agents (AEAs) — digital entities capable of transacting without human involvement and representing themselves, gadgets, services, or even individual users. It is the goal of the project to develop use cases for the hospitality, transportation, energy, and supply chain industries.
More information on the timing and procedures for each offering on Binance Launchpad will be revealed in the near future.
Projects on the Binance Launchpad
An application must pass a stringent review procedure before it can be accepted into the Binance Launchpad platform. In a project, there are a number of things we look out for:
- Project development is at a somewhat advanced stage
- Possibly to help the broader crypto ecosystem prepare for mass adoption in terms of its growth and development
- Has a strong and loyal team
Binance Launchpad is a showcase for projects that have made it through the selection stage, allowing them to be seen by all Binance users who might be interested in participating in the project's token sale.
A User's Guide to Binance Launchpad
Step-by-step instructions for how to get involved in token holdings on Binance Launchpad are provided here. For those who are interested in participating in a token offering, we have some additional prerequisites and terms.
- To verify your Binance account, follow these steps. It's a way to check that token sales are being conducted in accordance with local laws.
- To see the initiatives we have planned, please visit the Binance Launchpad webpage.
- Go to the project's page and read about it. Do your own study before embarking on any endeavor of this type.
- Click the "Buy Now" button once you've opted to participate in token sale. It is possible to use cryptos such as Binance Coin, Bitcoin, Ethereum, and others in order to participate in the token sale.
It's important to note, however, that each user can only contribute up to a particular maximum amount in each token sale round, which will vary from project to project. Locked-in pricing for each token sale session will be announced quickly after the day before or day of each session's token sale.
- Quickness is a must. Users that click the "Buy Now" button first will be allowed to purchase a specific number of tokens for each project, and sales will proceed on a "first-come, first-served" basis. Binance Launchpad will no longer be able to contribute as soon as the total token posted on the Binance Launchpad is used up.
- Get your tokens as soon as possible. Binance users will receive their tokens after the token sale event is over.
According to the new launchpad subscription format, BNB holders can approve a specific number of BNB for the sale of tokens, with the ultimate new token allocation decided by the relationship between their approved BNB and the total approved BNB of all participating users.