What is Binance Launchpool? How to use Binance Launchpool

Launchpool has been a great feature on Binance that allows users to make profits on a risk-free basis. So what is Binance Launchpool? How can you participate in Binance Launchpool? Let’s find out in this article!

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What is Binance Launchpool?

Binance Launchpool is a platform that lets users stake BUSD, BNB, or other tokens to earn new tokens for free. The number of tokens you earn is relative to the number of tokens you stake into the pool.

Pools are available for a determined period, usually 30 days. However, the tokens you earn are calculated every 1 hour, which can be harvested any time at will. Additionally, after 7 days of farming, that token will be directly on Binance for trading, which is extremely beneficial for Launchpool farmers as Binance is currently one of the highest-ranked Centralized Exchanges.

Binance Launchpool Review

Pros

• Users can earn free tokens using BNB or BUSD, which are assets commonly held by Binance users. Instead of leaving them idle in the wallet, users can make extra profits.
• Projects listed on Binance Launchpool are guaranteed to be listed on Binance Exchange. This shows the potential of not only those projects but also their native tokens as well.
• Rewards are given hourly, and users can claim them any time which are also tradeable immediately.

Cons

• There are usually only 30 days for users to participate in Binance Launchpool. This is a rather short period of time, not to mention the number of available projects are insignificant as they are not so frequently released.
• As Binance Launchpool is so popular with a massive userbase now, the farming APYs are often pretty low.

How to use Binance Launchpool

Web version

Step 1: Go to Binance Launchpool: https://launchpad.binance.com/

Step 2: Select the pool that you want to stake tokens in. I’ll take DAR as an example, and I’ll use the BNB Pool. Click “Stake now”.

Step 3: Enter the amount that you want to stake, then click “Stake”. 

You have successfully participated in Binance Launchpool.

App version

Step 1: Open Binance app. At the main screen, select “Launchpad”.

Step 2: Scroll down and click “View more”.

Step 3: Select the pool that you want to stake tokens in. I’ll take DAR as an example, and I’ll use the BNB Pool. Click “Stake now”.

Step 4: Enter the amount that you want to stake, then click “Stake”. 

You have successfully participated in Binance Launchpool.

FAQ about Binance Launchpool

What do I need to participate in Launchpool?

All you need is more than 0.1 (for example 0.1 BNB) of any token supported in a pool, and a Binance account, which can be created here.

Are there any limits that I can stake?

No, you can stake as many tokens as you want, as long as it is higher than 0.1 token.

How do I see the Annual Percentage Yield (APY) of each pool?

The APY of each pool will be visible once trading opens for the token that is being earned. 

We’ve made a sample model below to give you some idea of what you might be able to expect. Please bear in mind that this is highly variable based on a number of factors.

Can I trade the tokens I've farmed immediately?

Tokens you earn can’t be traded until the project has been listed on Binance.com. Once trading is live, you will be able to trade any tokens you earn as soon as you get them.

Has Launchpool replaced Launchpad?

No, Launchpool is only a new initiative to help you safely farm new coins from existing assets. There may even be times when both run concurrently.

Will the BNB I’ve used to subscribe to Launchpool be still counted for Launchpad and any other airdrops etc?

Yes, they will be.

Are the tokens I’ve subscribed to Launchpool locked for 30 days?

No, you can withdraw them at your discretion.

Can I use Binance Launchpool on the mobile app?

Yes, you can do that by clicking “Launchpool” in the main menu of the Binance app.

Conclusion

And that is all you need to know in order to participate in Binance Launchpool. Hopefully, this article can effectively support users in using Binance Launchpool with the Coin98 Mobile Wallet and the Coin98 Extension Wallet.

If there are any questions, please feel free to comment below or join Coin98 Community for further discussions about Crypto!