Binance Launchpool introduces Toncoin with 7.65M TON rewards; staking starts Aug 15, 2024.
Toncoin staking offers special APR on Binance Super Earn, which is available post-listing.
Binance sets hourly hard caps at 1,354.68 TON for the BNB pool, ensuring equitable distribution.
Binance, a leading global cryptocurrency exchange, has officially announced the addition of Toncoin (TON) to its Binance Launchpool, marking it as the 56th project on this innovative platform. This integration allows users to stake their BNB and FDUSD to farm TON tokens beginning August 15, 2024.
https://twitter.com/binance/status/1823349030354637290
The total token supply for Toncoin currently stands at over 5 billion, with 7,650,000 TON designated as rewards for participants in the launch pool.
The launch also coincides with the introduction of Binance Super Earn, a new platform feature that provides a Special Annual Percentage Rate (APR) for newly listed tokens. Users can benefit from this special APR by locking Toncoin into Simple Earn Locked Products immediately following its listing.
Farming and Staking Details
Participants in the Binance Launchpool can stake their BNB and FDUSD into separate pools to farm TON tokens over 20 days. The staking options include a majority share of rewards going to the BNB pool, which stands to gain 6,502,500 TON, representing 85% of the total rewards, and 1,147,500 TON allocated to the FDUSD pool, making up the remaining 15%.
The platform has set hourly hard caps for token rewards per user, with 1,354.68 TON for the BNB pool and 239.06 TON for the FDUSD pool. These caps are designed to ensure a fair distribution of rewards among participants. Furthermore, to maintain regulatory compliance, users that stake on Binance's Launchpool require KYC verification.
Regulatory and Access Considerations
Access to the Toncoin Launchpool and Super Earn features is subject to regulatory restrictions, varying by country and region. Due to local regulatory frameworks, users from certain jurisdictions, including Australia, Canada, Japan, and the United States, are restricted from participating. Furthermore, Super Earn is unavailable in additional regions such as Brazil, Hong Kong, and the United Kingdom.
Binance has emphasized the importance of users completing their account verification processes to ensure compliance and eligibility for participation. The platform also regularly updates its list of supported and restricted countries to reflect changes in global regulatory landscapes.
Platform Features and User Benefits
Binance continues to support a variety of user engagements through features like the BNB Vault and Locked Products, which are compatible with the Launchpool. Participants who have staked their BNB in these products will automatically partake in the new token rewards offered by Launchpool. This integration underlines Binance's commitment to providing diverse investment opportunities within its ecosystem.
Users may also reallocate or unstake their assets immediately, giving them more flexibility in managing their investments. The platform updates the Annual Percentage Yield (APY) and total pool balances in real-time, allowing members to make educated decisions.
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