By
Steve Muchoki
May 10th, 2024
Staking BNB and FDUSD tokens on the Binance Launchpool also provides users early access to the FARM PORTAL project.
Binance, one of the leading crypto exchanges globally, has announced the launch of Portal (PORTAL), an innovative cross-chain gaming platform, on its Binance Launchpool. With a mission to onboard more players into Web 3.0, PORTAL aims to revolutionize the gaming industry by leveraging blockchain technology and Decentralized Finance (DeFi) principles.
Staking and Farming PORTAL
At the heart of Binance PORTAL listing is FARM PORTAL, a dynamic project that offers users the opportunity to stake Binance Coin (BNB) and FDUSD tokens in exchange for rewards. This represents a significant step towards merging the worlds of gaming and DeFi, creating new avenues for engagement and value creation within the crypto ecosystem.
Through FARM PORTAL, users will begin to stake their BNB and FDUSD tokens in separate pools to earn rewards starting from the 22nd of this month. Afterward, farming will begin, while Binance will list PORTAL on the 29th of this month. Once the PORTAL is listed, open trading will begin with PORTAL/BTC, PORTAL/BNB, PORTAL/FDUSD, PORTAL/USDT, and PORTAL/TRY trading pairs, respectively.
Staking BNB and FDUSD tokens on the Binance Launchpool also provides users early access to the FARM PORTAL project. Early access allows users to explore the features and functionalities of the platform before they are made available to the wider public, providing them with a competitive advantage in the DeFi space.
Binance highlighted that user rewards will be calculated hourly based on snapshots of user balances and total pool balances. Users can accumulate and claim rewards to their spot accounts at any time. The farming mechanism allows users to stake in one pool at a time with the flexibility to unstake funds at any time and participate in other available pools.
It is also important to note that participating in the Launchpool is subject to eligibility based on the user’s country or region of residence.
Meanwhile, the PORTAL listing highlights Binance’s dedication to expanding its ecosystem and providing users with diverse opportunities to engage with cryptocurrencies and blockchain technology. By offering staking rewards and early access to promising projects, Binance aims to attract new users and drive further growth in the cryptocurrency market.
Binance Expanding Supported Projects and Assets
Notably, Binance’s decision to introduce several projects on its Launchpool reflects the exchange’s commitment to supporting innovative projects within the crypto space.
Last month, Binance Launchpool announced Xai (XAI) as its 43rd project. This unique addition is a gaming blockchain built on top of Arbitrum, marking its debut as the first Layer 3 (L3) project on the Ethereum-based layer-2 scaling solution.
A few days later, the exchange launched its 44th project on its Launchpool. This new addition featuring Manta (MANTA) came as a game-changer, as it introduced a modular Layer-2 (L2) solution tailored for Zero-Knowledge (ZK) applications to the Binance ecosystem.
To complement the listings over the past few months, Binance also introduced AltLayer (ALT) on its Launchpool platform, expanding the assets its millions of users can gain access to.