Binance, a leading cryptocurrency exchange, is delighted to announce two new projects to join its Binance Launchpool platform. Introducing Sei (SEI) and CyberConnect (CYBER), both aiming to revolutionize the world of blockchain technology and decentralized applications.
Introducing Sei (SEI)
Sei (SEI) is a Layer 1 blockchain optimized for the exchange of digital assets. As a fully open-source, general-purpose blockchain, Sei has made significant advancements in its underlying consensus mechanism and transaction processing. These advancements enable parallel execution, industry-leading finality, and a seamless user experience for applications built on the Sei blockchain.
Sei is designed to address scalability and user experience challenges that have hindered the mainstream adoption of Web3 applications. By optimizing the exchange of digital assets, Sei aims to become a universal function across various domains, including gaming, social networks, non-fungible tokens (NFTs), and decentralized finance (DeFi) applications.
Sei Launchpool Details
To support the growth of the Sei ecosystem, Binance Launchpool allows users to stake their BNB, TUSD, and FDUSD tokens into separate pools to farm SEI tokens over a 30-day period. The farming will begin on August 2, 2023, 00:00 (UTC) and continue until August 31, 2023, 23:59 (UTC).
The initial circulating supply of SEI will be 1,800,000,000 SEI, representing 18% of the total token supply of 10,000,000,000 SEI. To incentivize participation, Binance will provide Launchpool token rewards totaling 300,000,000 SEI, equivalent to 3% of the total token supply.
Supported Pools and Hourly Hard Cap
To ensure fair participation, Binance has implemented an hourly hard cap per user for each pool:
BNB Pool: Users can stake up to 33,333.33 SEI
TUSD Pool: Users can stake up to 6,250 SEI
FDUSD Pool: Users can stake up to 2,083.33 SEI
The supported pools will offer the following rewards:
Stake BNB: 240,000,000 SEI in rewards (80% of the total rewards)
Stake TUSD: 45,000,000 SEI in rewards (15% of the total rewards)
Stake FDUSD: 15,000,000 SEI in rewards (5% of the total rewards)
Listing and Trading of SEI
Following the farming period, Binance will list SEI on its platform on August 15, 2023, 12:00 (UTC). SEI will be tradable with BTC, USDT, and BNB, providing users with multiple trading pairs. The Seed Tag will be applied to SEI, signifying its participation in the Binance Launchpool.
Introducing CyberConnect (CYBER)
CyberConnect (CYBER) is another remarkable addition to the Binance Launchpool. It is a Web3 social network protocol empowering developers to create social applications that give users ownership of their digital identity, content, connections, and interactions.
The protocol comprises three core components: CyberAccount, an ERC-4337-compatible account system; CyberGraph, a censorship-resistant database built on multi-chain smart contracts to record usersâ content and social connections; and CyberNetwork, a gas-efficient and scalable L2 network.
CyberConnect Launchpool Details
Similar to Sei, Binance Launchpool will enable users to stake their BNB, TUSD, and FDUSD tokens into separate pools to farm CYBER tokens over a 30-day period. Farming will commence on August 2, 2023, 00:00 (UTC) and end on August 31, 2023, 23:59 (UTC).
The initial circulating supply of CYBER will be 11,038,000 CYBER, representing 11.04% of the total token supply of 100,000,000 CYBER. Binance will provide Launchpool token rewards of 3,000,000 CYBER, equivalent to 3% of the total token supply.
Supported Pools and Hourly Hard Cap
For fair distribution, Binance has set an hourly hard cap per user for each pool:
BNB Pool: Users can stake up to 333.33 CYBER
TUSD Pool: Users can stake up to 62.50 CYBER
FDUSD Pool: Users can stake up to 20.83 CYBER
The supported pools will offer the following rewards:
Stake BNB: 2,400,000 CYBER in rewards (80% of the total rewards)
Stake TUSD: 450,000 CYBER in rewards (15% of the total rewards)
Stake FDUSD: 150,000 CYBER in rewards (5% of the total rewards)
Listing and Trading of CYBER
Following the farming period, Binance will list CYBER on its platform on August 15, 2023, 12:00 (UTC). CYBER will be available for trading with BTC, USDT, and BNB trading pairs, providing users with various options for accessing the token. Like SEI, CYBER will also receive the Seed Tag upon listing.
Conclusion
The addition of Sei (SEI) and CyberConnect (CYBER) to the Binance Launchpool marks an exciting development in the blockchain and decentralized application space. Both projects hold great promise in advancing the exchange of digital assets and empowering users in the Web3 world.
As the farming period approaches, users are encouraged to explore the Binance Launchpool and take advantage of the opportunity to stake their tokens and participate in these groundbreaking projects. However, it is essential to conduct thorough research and exercise caution when engaging in any cryptocurrency investments or token participation.
Source: https://azcoinnews.com/binance-announces-exciting-36th-and-37th-projects-on-binance-launchpool-introducing-sei-sei-and-cyberconnect-cyber.html
