Binance Launchpad vs. Binance Launchpool: Key Differences Explained
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Launching or investing in a new crypto project can be tricky business. Whether you're an investor or developer, there are so many platforms and options to choose from these days that it's hard to pick a winner.
>>>>> What Is Binance Launchpad?
Binance Launchpad is a platform that helps launch new cryptocurrency projects in a fair and open way.
In the crypto realm, launchpads (also known as incubators) make it possible for infant projects and tokens to grow. A typical launchpad will allow new projects to showcase themselves to investors and sell early-access tokens in order to raise funding. The lure for investors is the chance of making big gains when the token's value hopefully begins to increase as the project's popularity grows.
>>>>>> What Is Binance Launchpool?
When a new crypto project wants to distribute its tokens, it can partner with Binance Launchpool. Binance will then allow its users to stake BNB, BUSD, and other eligible tokens in a separate pool for that project.
For example, let's say NewCryptoCoin is launching and doing a Launchpool with BNB. You can stake your BNB in the NewCryptoCoin BNB pool. While your BNB is staked, you'll earn NewCryptoCoin tokens as rewards.
The more and longer you stake, the bigger your share of the rewards. So, if you can lock up your BNB for the full staking period (usually around 30 days), you can maximize your earnings.
