What is Binance Launchpad?
What is Binance Launchpad? Why are so many people rushing to buy IEOs on Binance Launchpad? Learn all about Binance Launchpad here!!!
Binance Launchpad is one of the top quality Launchpad in the crypto market as it brings a relatively large profit to the participants, in this article I will share an overview of what Binance Launchpad is and why people flocked to buy IEOs on Binance Launchpad.
What is Binance Launchpad?
Binance Launchpad is Binance’s exclusive token “launchpad” to help Blockchain projects raise capital. With the reputation and influence of the Binance exchange and its ecosystem, Binance Launchpad helps increase the project’s reach across other crypto-ecosystems.
In order to be listed (listed) on Binance Launchpad, the project must go through extremely rigorous testing processes based on the criteria set by Binance. Starting from 2019 until now, Binance Launchpad has introduced to users many quality projects such as: Polygon, Axie, WarzirX, Band Protocol, Cartesi,…
Why is everyone rushing to buy IEOs on Binance LaunchPad?
First, you need to understand what an IEO is. IEO (Initial Exchange Offering) is a form of crowdfunding through the form of token sale on Crypto exchanges. If with ICO, you will buy tokens directly from the project. Then with IEO, the token will be sold on an exchange, and those who want to invest can go to that exchange to buy.
So why are people rushing to buy IEOs on Binance LaunchPad and not other exchanges?
- Through a rigorous screening process and selection criteria, the projects appearing on Binance Launchpad are guaranteed quality and have good growth potential.
- In addition, Binance also has a lot of advantages in supporting Blockchain projects thanks to their large ecosystem.
- And most importantly, the projects that have previously launched IEOs on Binance Launchpad have shown very good profit numbers.
It is because of these factors that the Crypto community highly appreciates and looks forward to buying IEOs of projects on Binance Launchpad. Let’s take a look at some of the projects that have done IEOs on the Binance LaunchPad platform and the profit you will get if you invest in one of these projects.
Profits of IEO projects on Binance LaunchPad.
Polygon (MATIC) is a Layer 2 project that improves and scales and improves the problems that exist on the Ethereum network such as slow transaction speed, limited scalability, and fees for performing tasks. extremely high.
- Opening time for sale: April 27, 2019.
- Highest ROI after listing: x1003 times.
- Current ROI: x425.88x.
Elrond Network (EGLD) is a new Public Blockchain structure that focuses on the scalability, efficiency, safety, and interoperability of Blockchain, while remaining decentralized.
- Opening time for sale: 5/7/2019.
- Highest ROI after listing: x378 times.
- Current ROI: x130.53 times.
WazirX (WRX) is a centralized cryptocurrency exchange (CEX) established in March 2018. This is an operating floor focusing on the Indian market – one of the countries with a population of 1.3 billion people.
- Opening time: 6/2/2020.
- Highest ROI after listing: x317 times.
- Current ROI: x58.16x.
Axie Infinity (AXS)
Axie Infinity (AXS) is a Blockchain game (NFT Gaming) built on Loom Network – a Layer 2 scaling solution for Ethereum, focusing on games. In Axie Infinity, players will collect and nurture fantasy creatures called Axies and earn money with them. The project was also mentioned on the national television station VTV (Vietnam) as a game that is causing a fever in the community recently.
- Opening time: 4/11/2020.
- Highest ROI after listing: x113 times.
- Current ROI: x50.79x.
Review of Binance Launchpad
The mechanism of Binance Launchpad is quite fair from the perspective of “Hold BNB more and longer ⇒ The higher the chance of earning Launchpad tokens”.
In addition, Binance Launchpad also has an automatic anti-Whale mechanism when there is a per-tier restriction, ensuring the fairest possible token distribution for everyone.
On the contrary, being too fair causes some limitations, when users participate too much, leading to users committing a lot of capital, but buying very few tokens, leading to large Token x but loss. the case with Launchpad takes place on Raydium).
Steps to buy IEO on Binance LaunchPad
Step 1: Calculation time when holding BNB
In this step, you need to calculate your Participation Limit.
The Participation Limit will be determined by your average BNB balance over a given period, usually 7 days. You may not staking or do anything extra with your BNB during this time.
Step 2: Subscription Period – Commit BNB
Once your Participation Limit is determined, you will be able to pledge and lock up any amount of BNB (no more than the Participation Limit) to receive Launchpad tokens.
Step 3: Binance calculates the number of Tokens to allocate
After the BNB commitment period expires, Binance will calculate the number of tokens each user has acquired in about 1 hour.
Step 4: Allocate LaunchPad tokens and return the remaining BNB
Once each user’s tokens are determined, a portion of your locked BNB will be deducted from Launchpad tokens. Both BNB and Launchpad tokens will be automatically transferred to your spot wallet.
For details on each step of participating in IEO and allocation rules, you can refer to the following article for more information.
See also: 04 Steps to Buy IEOs on Binance Launchpad Details (2022)
Frequently asked questions about Binance Launchpad
Will the BNB in Launchpool or BNB Vault count towards my participation Limit?
Yes! The calculation is the same as the previous Lottery Launchpad format. You can keep your BNB in Launchpool or BNB Vault, the amount still counts towards your Participation Limit.
For a list of all accounts that will record BNB balances, please refer to the article here.
When do I need to commit my BNB?
Users only need to commit their BNB during the subscription period.
What does hardcap per user mean?
Hardcap means the maximum number of Launchpad tokens that each user can receive.
It does NOT mean the maximum amount of BNB you can commit.
Is my BNB locked in the daily averaging period?
Is not! Your BNB can be in any of the accepted accounts listed here during the calculation period and is not locked.
Where is my committed BNB locked during the subscription period?
Your BNB will be locked to a separate Launchpad wallet during the subscription period after you commit. You can lock your BNB at any time during the subscription period, even within the last 30 minutes.
Can I commit my BNB even if my BNB is in Launchpool or BNB Vault?
While you can leave your BNB in your Launchpool or BNB Vault to count towards your Participation Limit, you will need to redeem your BNB from Launchpool or BNB Vault into your Spot wallet during the signup period to actually commit the BNB.
Is there a minimum amount of BNB I can commit?
The minimum amount of BNB that can be committed is 0.1 BNB.
Due to the existing reputation of the Binance exchange, the projects appearing on Binance Launchpad are highly expected by the community. It has been proven that IEO benefits investors when MATIC and AXS have multiplied (x) many times.
However, every game has risks and IEOs are no exception to this rule. When the number of participants is too large, the number of tokens purchased will not be too high. So don’t let yourself get too FOMO. You should only invest the amount of capital that can accept losses after you have carefully researched the project.
Above, I introduced you to what the Binance LaunchPad platform is and frequently asked questions when you want to buy IEOs, hopefully you have found yourself useful experiences to successfully buy IEOs on Binance. LaunchPad.