Cryptocurrency exchange Binance is adding two new altcoin projects to Binance Launchpool. The projects are Sei Network (SEI) and CyberConnect (CYBER).
Binance users can stake BNB, TUSD, and FDUSD in the Launchpool pools and earn SEI and CYBER tokens.
Sei Network becomes the 36th project and CyberConnect the 37th project on Binance Launchpool. Users can start staking BNB, TUSD, and FDUSD in the Launchpool pools in the next 5 hours to earn SEI and CYBER tokens.
This announcement expands Binance’s offerings and provides more opportunities for users to earn rewards through staking.
Users can participate in the Sei Network and CyberConnect projects on Binance Launchpool by staking their BNB, TUSD, and FDUSD in separate pools. By doing so, they can farm SEI tokens for 30 days, starting on August 2nd at 03:00, for Sei Network, and CYBER tokens for the same duration and starting time for CyberConnect. This staking process allows users to earn rewards in the form of SEI and CYBER tokens during the 30-day period.
Token Distribution Details
Sei Network farming has allocated 300 million SEI tokens, which is 3% of the total SEI token supply. CyberConnect farming, on the other hand, has allocated 3 million CYBER tokens, equivalent to 3% of the total CYBER token supply.
When staking BNB, TUSD, or FDUSD in the pools, users will receive rewards. 80% of the total reward amount will go to BNB stakers for both SEI and CYBER, 15% will go to TUSD stakers, and the remaining 5% will be given to FDUSD stakers. This distribution applies to both SEI and CYBER token farming.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.