Binance Launchpad: New Projects Coming Soon
Binance Launchpad, the exclusive token launch platform of Binance, is planning to infer users to about one new token launch every month in 2019, starting with BitTorrent and Fetch.AI.
The Binance Launchpad token launch platform helps blockchain projects raise funds and increase their reach across the crypto ecosystem. We do this by offering a project’s tokens to up to more than 10 million Binance users*. With this platform, we grant our users the chance to be part of potentially game-changing projects.
Binance Launchpad is more than a platform for offering tokens. It’s also a full advisory service for projects, which will benefit from our insights and experience. We ensure that the projects can focus their efforts on where it matters: developing their product and increasing adoption.
As with any technology-related field, there are always worthwhile ideas and projects within the blockchain ecosystem that await to be discovered and nurtured. Binance has a track record of supporting these projects either through Launchpad, or our investment arm Binance Labs, which now directly supports 21 startups, or Binance itself, as in the case of Trust Wallet and TravelbyBit.
BitTorrent and Fetch.AI: Coming Soon to Binance Launchpad
BitTorrent is a TRON-affiliated blockchain project for peer-to-peer file sharing. BitTorrent’s protocol is empowering a new generation of content creators with the tools to distribute their content directly to others on the web. BitTorrent’s new BTT token will allow BitTorrent peers to incentivize activities that lead to better file sharing, like using faster networks and enabling longer seeding periods. This integration of ”BitTorrent peer-to-peer network and the TRON blockchain network via a set of BitTorrent protocol extensions, a custom token, and an in-client token economy” aims to benefit each of their 100 million monthly active users (MAU) across 138 countries.
Meanwhile, Fetch.AI, an Outlier Ventures project, is an artificial intelligence-driven, decentralized blockchain network, wherein the economic activity is performed by Autonomous Economic Agents (AEAs) -- digital entities that can transact without needing human intervention and can represent themselves, devices, services, or individuals. The project aims to provide use cases for hospitality, transportation, energy, and supply chain sectors.
We will soon unveil more details about the timing and procedures for each offering on Binance Launchpad.
How Binance Launchpad Works for Projects
Before a project goes into the Binance Launchpad platform, it goes through a rigorous review process to determine if it passes through Binance’s standards. Some of the factors we look for in a project include:
- Relatively mature-stage project development
- Readiness for large-scale adoption
- A strong and committed team
- Potential to benefit the growth and development of the wider crypto ecosystem
Once a project makes it through this selection process, it then gets featured on Binance Launchpad (https://launchpad.binance.com), in full view of Binance users who may be interested in participating in that project’s token offering.
How Binance Launchpad Works for Users
Here’s a step-by-step guide on how to participate in token offerings by projects on Binance Launchpad. Here’s where we note that we also have certain requirements and terms for contributing to any token offering.
- Complete your Binance account verification. This is to ensure that token sales are being done in compliance with regulatory requirements in users’ jurisdictions.
- Go to the Binance Launchpad website to see the projects we have lined up.
- Click the project page and study the details. As with any activity of this nature, do your own research.
- Once you’ve decided to take part in the token sale, click the “Buy Now” button. Depending on the terms of the token sale, you can use cryptos such as Binance Coin, Bitcoin, Ethereum, or others.
NOTE: Each user can contribute up to a certain maximum amount in each token sale round -- an amount that will vary from project to project -- to give more users a chance to participate in each sale. The rates of exchange for the token sale will be locked in usually the day prior or on the day of each token sale, and locked-in rates for each session will be announced promptly.
- Be fast. The token sales will work in a “first-come, first-served” format, whereby the first users to click the “Buy Now” button will be able to buy a certain amount of each project’s tokens. The sale will continue until the total token amount displayed on Binance Launchpad runs out, at which point users will not be able to contribute anymore.
- Get your tokens soon. After the token sale event, users will be credited with the respective tokens to their Binance account.
NOTE: Each project will go through the rigorous token listing review process, after which users will be able to either directly trade the token (if listed) or withdraw the tokens to their personal wallet once the tokens are unlocked.
What Binance Launchpad Means to the Blockchain Ecosystem
At Binance, we believe in the long-term potential of blockchain technology and recognize our duty of moving the whole ecosystem forward, encouraging the next impactful projects wherever they may emerge. Binance Launchpad is a significant part of our holistic support when it comes to supporting blockchain startups.
Let’s say you have a promising idea for a blockchain-related app or service. You will have various ways to raise capital, but first, you’ll have to work hard to craft a product that has a compelling use case. Once that part’s almost done, you’ll face numerous questions regarding what’s the optimal way to receive support.
With the Binance ecosystem, you have a multitude of options. Do you have a product that will be attractive to a community of crypto holders and will work better through a crowdfunding effort than other methods? Then Binance Launchpad will be there for your project.
For instance, in December 2017, BREAD, a financial services platform that aims to build the world's largest decentralized bank, was able to sell out US$6 million worth of its tokens within 216 seconds. In the same month, GIFTO the token of major live streaming app Uplive, sold out US$3.4 million worth of tokens in 98 seconds.
We look forward to the projects that will get featured on Binance Launchpad in the coming months. For more details about the platform, upcoming token launches and how each offering will be conducted, head to https://launchpad.binance.com now.