Binance is excited to announce the 2nd project on Binance Launchpool - Wing (WING), a credit-based, cross-chain DeFi lending platform built on Ontology.
Users will be able to stake their BNB, BUSD or ONT tokens into three separate pools to farm WING tokens over 30 days, with farming starting from 2020/09/15 0:00 AM (UTC). Users will now be able to receive BOTH WING and BEL tokens for staking their BNB and BUSD in the respective flexible savings products.
Binance will then list WING at 2020/09/16 2:00 AM (UTC) and open trading for WING/BTC, WING/BNB, WING/BUSD and WING/USDT trading pairs.
WING Launchpool Details
- Token Name: Wing (WING)
- Launchpool token rewards: 130,000 WING (6.5% of Total Token Supply)
- Total Token Supply: 2,000,000 WING
- Maximum Token Supply: 10,000,000 WING
- Private Sale Token Price: No private sale
- Farming Period: 2020/09/15 0:00 AM (UTC) to 2020/10/15 0:00 AM (UTC).
- Staking Terms: No upper limit. No KYC required.
- Stake BNB: 65,000 WING in rewards (50%)
- Stake BUSD: 13,000 WING in rewards (10%)
- Stake ONT: 52,000 WING in rewards (40%)
For further information about the project and yield calculations of each pool, refer to the detailed project page here.
Read about Wing (WING) in our research report here.
How to participate and stake your BNB, BUSD or ONT?
Users can stake their tokens by going to the Binance Savings page and clicking on the BNB, BUSD or ONT flexible savings products with a “Launchpool” label.
Please note: Users that have participated in the Bella Protocol Launchpool will automatically have their BNB and BUSD balances included in the calculation of WING farming. Users will need to have saved an amount above 0 ONT into their ONT flexible savings account after 2020-09-06 08:00:00 (UTC) for their current ONT flexible savings balance to be included into their WING farming calculations.
How do I calculate my WING rewards?
Staked BNB, BUSD and ONT balances will be recorded each hour for 30 days after the staking period begins to get an average daily staking balance for each day. Rewards allocated to each pool will be split evenly every day over the 30 day period. For example, the BNB pool will reward a total of 130,000 x 50% / 30 = 2166.667 WING tokens per day to BNB stakers.
Each participant’s rewards will then be calculated every day based on their ratio of BNB staked compared to all BNB staked in each pool. For example, User A stakes 5,000 BNB for 12 hours during the 1st day of staking. The average amount of BNB staked across 24 hours from all participating users during the same day was 100,000 BNB. User A will receive ((5,000 x 12 / 24 ) / 100,000) x 2166.667 = 54.167 WING tokens for the first day.
Find our FAQ on how to farm WING tokens on Binance Savings here.
Terms & Conditions
- Users will be able to un-stake their funds at any time with no delay and participate in any other available pools immediately.
- Rewards are calculated and distributed daily on the following day to user spot wallets between 0 AM and 1 AM (UTC).
- Users will also receive interest from the standard flexible savings products by depositing tokens into each product. Distributions will be made at the same time as above.
- Only tokens in your spot wallet will be able to be staked into Launchpool.
- BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
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