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How to Get Binance Fan Tokens via Launchpool

2021-12-01 03:35

What is the Binance Launchpool?

The Launchpool is part of Binance’s exclusive token launch platform where users can use their existing crypto assets to gain exclusive access to exciting new Binance Fan Tokens.
Just like other crypto assets, some Binance Fan Tokens are also listed and distributed between users via the Launchpool. Whenever a new team launches their tokens on the Binance Fan Token Platform, all Binance users can participate in the corresponding Binance Fan Token Launchpool to obtain those tokens and become part of groundbreaking new projects.

How does the Binance Fan Token Launchpool work?

When a new team or brand becomes a featured partner, their tokens will get listed on the Binance Token Launch Platform. Prior to that, all Binance users can explore upcoming team listings and participate in the corresponding team’s Launchpool offering. With equitable distribution measures in place, everyone will be able to get their fair share of tokens.
The Binance Fan Token Launchpool allows BNB and BUSD holders to subscribe their assets to corresponding pools and collect a new Binance Fan Token over a set period, usually 30 days. Binance will list new Binance Fan Tokens during the Launchpool’s token harvesting period, allowing users to immediately exchange any tokens they have collected up until that point.

How to participate in a Launchpool?

To participate in a Binance Fan Token Launchpool, users will need to have a KYC verified Binance.com account and more than 0.1 of any token supported (for example 0.1 BNB) in a pool. There’s no maximum cap per user and the amount of tokens users can collect on a daily basis is proportional to the amount of tokens they have subscribed to the pool when compared to the total amount of tokens subscribed to the pool by all participants.
By purchasing BUSD stablecoin through debit/credit card, bank transfer, P2P, Spot, and other fiat gateways, fans, and new users will be able to participate in the BUSD pool at minimal risk. To lower the entry barriers to Binance Fan Tokens and related activities, fans and new users can use a fraction of a token to participate in fan engagement events, and they can enjoy the benefits of this new community while interacting with top-tier clubs.

How to Collect Binance Fan Tokens via Launchpool?

On the Website
  1. Sign up for a Binance account and complete your identity verification. Our Beginner’s Guide will help you get started.
  2. Visit the Binance Fan Token Platform to explore new Binance Fan Token listings under the ‘Featured Teams’ section. Select the team token you’re interested in and that will directly take you to the corresponding Binance Fan Token’s Launchpool page.
  3. Subscribe BNB or BUSD to your preferred pools. [My Funds] shows your staked assets. [Available] shows the available balance for staking in your Spot Wallet. Input the amount of tokens you wish to subscribe to the pool by clicking [Stake now] and the harvesting period begins. If you do not hold any BNB, you can click [Buy BNB].
  4. Withdraw or subscribe extra assets at any point. Your assets can be redeemed any time by clicking [Redeem]. To view your staking records, click [Staking History].
  5. Claim newly collected Binance Fan Tokens at any time. The amount of newly collected tokens is calculated every hour under [My Rewards], and users can claim their pending rewards at any time by clicking [Claim Rewards]. To view the claimed rewards or distribution history, click [Claim History].
  6. Exchange or transfer Binance Fan Tokens on the go. Once a Binance Fan Token is listed, you will be able to exchange any tokens you earn as soon as you get them. Once the subscription period is over, both previously subscribed assets and newly collected Binance Fan Tokens will be transferred to your Spot Wallet automatically.
Subscribe On Binance App
  1. Click on the Launchpad icon from the Home Tab. If you cannot see the Launchpad icon in the ‘Homepage Services’ section, click the “More” icon and find the Launchpad option under the ‘Earn’ section.
  2. Select the Launchpool tab. Once you enter Binance’s Token Launch Platform, you will find Launchpool projects by selecting the Launchpool tab.
  3. Select your preferred pool and subscribe. Click [Stake now] the Binance Fan Token you wish to collect. Withdraw or subscribe more tokens later and harvest newly collected tokens any time.
  4. Click [Confirm Purchase]. Once the subscription period is over, your BNB or BUSD and all newly collected Binance Fan Tokens will be transferred to your Spot Wallet.
Please note:
  • Snapshots of user balances and total pool balances will be taken each hour to calculate user rewards, which will also be updated each hour.
  • Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.
  • Each pool’s rewards and total pool balance will be updated in real-time.
  • Tokens can only be subscribed in one pool at a time. For example, User A cannot subscribe to the same BNB into two different pools at the same time but can allocate 50% of their BNB into pool A and 50% into pool B.
  • Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.
  • Tokens staked in each pool and also any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each harvesting period.
  • BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility, and VIP benefits.