If you are new to the crypto world, you may be wondering about the most popular cryptocurrency exchanges out there.
One of the most renowned and massive crypto trading platforms with minimal transaction charges and great liquidity is Binance Launchpad.
It offers discounts to users who use its native token, BNB and offers over 500 different cryptocurrencies for trading, including Bitcoin, Ethereum, Cardano, Dogecoin, and Binance Coin.
Additionally, Binance owns a crowdfunding platform called Binance Launchpad that helps crypto startups raise funds by offering their tokens to Binance users.
What Is Binance Launchpad?
Binance Launchpad is a token launch platform owned by Binance, one of the world’s largest and most popular cryptocurrency exchanges. It is designed to assist crypto projects in raising funds through token sales.
This great cryptocurrency exchange provides users with exclusive access to new virtual tokens from innovative projects, and also helps increase awareness and usage of these projects.
New crypto projects can use the platform to offer their tokens to Binance users, who can then purchase these crypto assets using their existing cryptocurrency holdings.
By participating in a token offering on Binance Launchpad, crypto holders can support new blockchain projects and potentially gain early access to promising crypto assets.
What makes it great is that the platform’s rigorous review process ensures that only high-quality projects are selected for token sales, making it a trusted destination for crypto enthusiasts looking to invest in new projects.
Crowdfunding Platform
Before, blockchain projects had difficulty raising funds through their own Initial Coin Offerings (ICOs). By creating a dedicated Launchpad token, the process of cryptocurrency crowdfunding became more efficient and secure, reducing the vulnerability and risks initially associated with many ICOs.
Binance Launchpad is a pioneer in the Initial Exchange Offering (IEO) mechanism, a fundraising method in which a crypto project sells its tokens on an exchange, rather than through a traditional initial coin offering (ICO). This allows projects to reach a wider audience of potential investors, as well as benefit from the exchange’s reputation and security measures.
Getting started with Binance Launchpad
To take part in a token offering on Binance Launchpad, the first step is creating an account and completing the identity verification process for security and regulatory compliance.
Next, you’ll need to fund your account; this can be done by depositing fiat currency to convert into cryptocurrency or transferring cryptocurrency from an external wallet.
Lastly, you’ll need to convert your funds into Binance Coin (BNB) – the native token of Binance – which is required to commit to a project on Launchpad.
This can be done via the trading pair available on the platform. By holding BNB, users benefit from discounts on trading fees and other features such as access to exclusive products like Launchpad.
Therefore, it’s important to convert your funds into BNB before committing to a project on Binance Launchpad.
In conclusion, Binance Launchpad is a valuable platform that facilitates the fundraising process for startups via initial coin offerings (ICOs). It offers a secure and efficient system for launching tokens and granting investors access to innovative projects. As such, it proves to be an invaluable resource for both companies and individuals in the cryptocurrency space.
Examples of Launchpad Projects
STEPN (GMT)
The Binance Launchpad launched a new project called STEPN. This is a fitness app that incentivizes users by offering tokens for taking steps while walking outdoors.
Users are equipped with a unique Sneaker NFT, which can be personalized with different attributes and qualities.
The token associated with STEPN is called GMT. From its initial coin offering, the GMT token experienced a significant increase of more than 300% in just 4 weeks.
This generated substantial profit for the project in the first quarter of 2022.
Alpine token
The BWT Alpine F1 Team made its first appearance in the 2021 Formula One World Championship. As part of Groupe Renault’s mission to promote its sports car brand, Alpine, the team was rebranded.
To create a deeper connection between fans and the team, an Alpine F1 Team Fan Token (ALPINE) was issued on BNB Chain. This utility token gives users the opportunity to participate in exclusive voting rights. Besides that, it gives access to special rewards along with collecting collectibles and NFTs.
In just six weeks since its launch, the ALPINE token price increased by 6.6%.
Voxies Token
Players of the free-to-play RPG game, Voxies, can immerse themselves in the virtual world of Voxtopia by collecting 3D voxel buddies stored on the Ethereum blockchain. With over 10 thousands unique and directly owned NFTs available, there is much to explore.
VOXEL is the native utility token used for all in-game functionalities, such as buying items from the marketplace. Players can earn VOXEL by completing tasks, participating in PVP battles, or simply exploring Voxtopia.
After it’s ICO, the token value skyrocketed by 10% within four months.
Binance Launchpad vs. Binance Launchpool
The Binance ecosystem consists of two entities that are popularly used by crypto-startups to gather funds: Launchpad and Launchpool.
Although both provide users with access to new virtual tokens from innovative projects, there are differences between them.
Both platforms provide opportunities for projects to garner funds. However, they are markedly different from each other in terms of their features.
Binance Launchpad is a token distribution platform that provides users with exclusive access to new virtual tokens from innovative projects. It uses a lottery system to give all users an equal chance at purchasing desirable tokens. Users can buy tokens using either BNB or USDT. This feature is mainly used by cryptocurrency companies that want to give their token holders early access.
Binance Launchpool, on the other hand, is a token offerings platform that primarily caters to miners and shakers. It allows them to stake assets in order to receive reward tokens. This way, generating rewards through pooling staked assets of different cryptocurrencies. It is suitable for long-term investment strategies instead of volatile short-term ones.
