In the ever-evolving world of cryptocurrencies, the process of introducing new tokens to the market is as critical as the blockchain projects they represent. Binance Launchpad, a platform operated by the globally recognized cryptocurrency exchange Binance, serves as a bridge between promising blockchain projects and the community of digital asset enthusiasts.
Thanks to Binance Launchpad, users can purchase tokens directly from the source. It comes as no surprise then that the platform represents an innovative method for project teams to garner attention and support. In this article, I’ll take a look at how it operates, how you can join its ICOs, and the tokens it launched into the top tiers of market capitalization.
Table of Contents
- What Is the Binance Launchpad?
- Benefits of Binance Launchpad for Crypto Projects and Users
- How Does the Binance Launchpad Work?
- How to Participate in Launchpad Airdrops & ICOs
- How to Launch a Project in the Binance Launchpad?
- What Is the Difference Between Launchpad & Launchpool?
- Top 5 Binance Launchpad Projects
- What Are the Best Crypto Launchpads?
What Is the Binance Launchpad?
Binance Launchpad is a token launch platform by Binance, one of the world’s largest cryptocurrency exchanges. The Launchpad acts as a conduit between promising blockchain projects and Binance’s substantial user base, offering these projects a platform to raise funds and increase their visibility within the crypto community.
The goal of the Binance Launchpad is to support transformative blockchain projects by giving them a highly reputable platform to launch their initial coin offerings (ICOs) or token sales. Since its inception, Binance Launchpad has helped kick-start several successful projects, including Band Protocol, BitTorrent, and Harmony, among others.
Benefits of Binance Launchpad for Crypto Projects and Users
Binance Launchpad offers numerous benefits for both blockchain projects and individual crypto users.
For crypto projects, the Binance Launchpad provides:
- Exposure: Projects launched on this platform gain immediate visibility due to Binance’s large and active user base.
- Fundraising: Binance Launchpad offers a reputable and reliable platform for projects to raise funds for their ventures.
- Community Building: Projects have the opportunity to build a community of supporters who can contribute to their long-term success.
For users, Binance Launchpad provides:
- Access to New Projects: Users get early access to new and promising blockchain projects.
- Ease of Use: The process of participating in token sales is seamless and user-friendly.
- Trust: As Binance is a well-established exchange with a strong reputation, users can trust that the projects listed on the Launchpad have been thoroughly vetted.
How Does the Binance Launchpad Work?
The Binance Launchpad once ran a lottery mechanism for token allocation but now operates on a subscription model. Here’s a quick run-through of how it works:
- Project Selection. Promising blockchain projects are chosen for token sales on the Binance Launchpad. These are thoroughly assessed to ensure their credibility and potential.
- Announcement. Once a project is chosen, Binance makes an announcement detailing the token sale’s specifics, such as timeline and price.
- Subscription Period. Users with BNB holdings commit a specific amount to the project for a 7-day period, during which their average daily BNB holdings are calculated to determine their maximum commitment limit.
- BNB Commitment Period. Eligible users commit their BNB within a 1-hour window. The committed BNB is locked until the final token distribution.
- Token Distribution. The corresponding amount of BNB is deducted from each user’s balance, and the project’s tokens are distributed to their wallet. Any unspent BNB is then unlocked and returned.
This revised system ensures fairness while still enabling users to become part of innovative blockchain ventures.
How to Participate in Launchpad Airdrops & ICOs
Joining Binance Launchpad’s airdrops and initial coin offerings (ICOs) involves these steps:
- BNB Holdings. Users must have Binance Coin (BNB) in their Spot Wallets during the calculation period. The average amount of BNB held during this period influences the maximum amount one can commit.
- Project Subscription. Once a token sale is announced, users can commit their BNB to the specific project. This can be done on the Binance Launchpad page under the Earn section.
- BNB Commitment. After the calculation period, users commit their BNB within a specific time frame. The committed BNB is then locked for the duration of the holding period.
- Token Distribution. After commitment, the respective tokens are allocated, with the BNB equivalent deducted from the user’s balance. Any unspent BNB is unlocked and returned to the user’s wallet.
- New Token Trading. After the distribution of tokens is complete, Binance opens trading for that new token, allowing users to hold or trade it in the spot market.
How to Launch a Project in the Binance Launchpad?
For blockchain start-ups to launch their project on Binance Launchpad, they need to undergo a selection process. This process ensures that only projects with committed teams, compelling business models, and potential for growth in the crypto ecosystem make the cut.
- Application. The project team applies to Binance Launchpad with detailed information about their project.
- Review. Binance conducts a strict review process. The project’s team, product, technology, business model, and strategic fit with the Binance ecosystem are all scrutinized.
- Preparation. If approved, the project team works with Binance to prepare for the token launch. This involves setting up the smart contract, putting together marketing materials, and planning the fundraising event.
- Launch. The project is then launched on the Binance Launchpad, where BNB holders can participate in the token offering.
What Is the Difference Between Launchpad & Launchpool?
Both Binance Launchpad and Binance Launchpool provide platforms for new crypto tokens to reach a wider audience, but they operate in slightly different ways.
Binance Launchpad uses a subscription mechanism for token distribution. Users must commit their Binance Coin (BNB) to a project for a specific period, and they can claim lottery tickets based on their average daily holdings. If their tickets are selected, the users receive the project tokens in exchange for BNB.
On the other hand, Binance Launchpool allows users to stake their crypto assets (like BNB, Binance USD (BUSD), and others) to earn new tokens. Users stake their digital assets in separate pools to farm new tokens. After the farming period ends, the initial tokens are listed on Binance with trading pairs, and users can trade them freely.
Overall, both platforms serve as significant pillars in Binance’s strategy to support blockchain start-ups and create a vibrant crypto space. They offer different opportunities to potential investors, with Launchpad focusing on ICOs, and Launchpool providing a way for users to earn new tokens by staking existing ones.
Top 5 Binance Launchpad Projects
Over the years, Binance Launchpad has been instrumental in launching several successful cryptocurrency projects that managed to achieve high market capitalization. Listed below, you can find five notable ones — in no particular order.
- Band Protocol. A decentralized data oracle on the Ethereum blockchain, Band Protocol makes it possible to connect real-world data and APIs to smart contracts. Since its initial exchange offering (IEO) on Binance Launchpad, Band Protocol has seen significant growth and adoption.
- Celer Network. Launched on Binance Launchpad, Celer Network aims to bring Internet-level scalability to blockchains. It provides off-chain solutions to help scale the blockchain ecosystem.
- BitTorrent. Acquired by TRON in 2018, BitTorrent conducted one of the fastest token sales in history via Binance Launchpad. Its native token, BTT, allows users to pay for faster download speeds.
- Fetch.AI. This project integrates blockchain and artificial intelligence to build an economic internet. Since its IEO, Fetch.AI has been developing its technology and partnerships steadily.
- Harmony. Harmony aims to scale blockchain to support billions of users and create a radically fair economy. Having conducted its token sale on Binance Launchpad, it has since launched its mainnet.
Each of these projects represents a unique approach to leveraging blockchain technology. Crypto investors should, however, undertake their own research before investing in any crypto project.
What Are the Best Crypto Launchpads?
While Binance Launchpad is a significant player in the market, several other launchpads also offer promising opportunities for crypto investors:
- Polkastarter: This launchpad operates on the Polkadot blockchain, facilitating cross-chain token pools and auctions. It has successfully launched many projects and is renowned for its rigorous project vetting process.
- DuckStarter Crypto: DuckStarter is a launchpad for projects on Ethereum and Binance Smart Chain networks. It offers a tiered system where the number of tokens one holds dictates the allocation one receives in project launches.
- BoostX Launchpad: BoostX supports projects on multiple blockchains and provides them with the necessary tools for a successful launch. They offer benefits like advanced tokenomics and security audits.
- Unicrypt Launchpad: This decentralized platform supports projects on Ethereum, Binance Smart Chain, and xDai. Unicrypt offers features like liquidity lockers, token vesting, and farming as a service.
- TrustSwap: This launchpad offers a full suite of decentralized finance (DeFi) services, including token locks, liquidity locks, and the SwapDrop token airdrop system.
These launchpads, along with Binance Launchpad, make it easier for promising crypto projects to reach a broader audience and for investors to discover and support new initiatives in the cryptocurrency world.
Please remember that due diligence and in-depth research are vital before making any investment decisions in the crypto space.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.