Are you yet to know about binance launchpad? here is a brief explanation.
Binance launchpad is an ICO and IEO platform by binance for innovative blockchain projects which provide funding, mentorship, listing and other resources to help these startups.
Here's how it works:
Application and Screening: Blockchain and cryptocurrency startups can apply to launch their projects on Binance Launchpad. The Binance team screens the applications to ensure they meet certain criteria, including the team's experience and the viability of the project.
Fundraising: Once a project is selected, Binance Launchpad helps the project team to set the terms of their fundraising event, such as the price of the token, the total amount of tokens to be sold, and the fundraising target. The fundraising is conducted using Binance's own cryptocurrency, Binance Coin (BNB), or other cryptocurrencies that are accepted by the platform.
Token Sale: The token sale typically takes place over a fixed period of time, during which investors can purchase the project's tokens using BNB or other accepted cryptocurrencies. The tokens are usually sold on a first-come, first-served basis until the fundraising target is reached or the sale period ends.
Token Distribution: After the token sale is complete, the tokens are distributed to investors who participated in the sale. The tokens can be traded on Binance's exchange or other cryptocurrency exchanges that support the token.
Post-Launch Support: Binance Launchpad also provides post-launch support to the projects that launch on its platform, including marketing and technical support.
Overall, Binance Launchpad provides a streamlined and secure platform for blockchain and cryptocurrency startups to raise funds and launch their projects, while also providing investors with access to promising new investment opportunities.
