Binance, the largest crypto exchange by trading volume metrics, has announced plans to list Velodrome Finance (VELODROME), adding the decentralized exchange’s (DEX) token to its spot trading catalog.
The exchange is also adding Vana (VANA) to the launchpool, with the project’s airdrop still ongoing.
Binance lists VELODROME for spot trading
Velodrome Finance bills itself as a next-generation DEX that serves as the liquidity hub for the superchain ecosystem. The VELODROME token will be available for spot trading on Binance starting Friday, December 13 at 2:00 PM UTC, or 11:00 AM ET.
It will be traded against the USDT stablecoin. In fact, the new listing on Binance comes with no fees, meaning traders can execute trades without incurring any charges.
Users can start depositing VELODROME in preparation for trading 2 hours later. Withdrawals will open this Saturday (14) at 11 am Brasília time, Binance said.
Additionally, the exchange has committed to a seed seal for this new listing, a precaution intended to distinguish VELODROME from any other token. The system will activate Trading Bots and Spot Copy Trading functions for the DEX token within 24 hours of the listing.
Shortly after the listing announcement, VELODROME's price soared by over 200%.
VELODROME Price Performance. Source: TradingView
Binance Names New Project on its Launchpool
In a side announcement, Binance announced the 62nd project on its Launchpool, Vana (VANA). The token is a native EVM-compatible Layer-1 (L1) blockchain for user-owned data. Based on the announcement, users will be able to lock up their BNB and FDUSD to receive VANA airdrops over the course of two days. In fact, mining will begin on 2024-12-14 at 00:00 UTC, or 9:00 PM Brasília time today (13).
Along with VANA’s integration into Binance’s launchpool, the exchange will also list the token. It will be available for trading on Binance starting December 16.
Binance will then list VANA and open trading for VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY pairs. The Seed Stamp will be applied to VANA, the exchange said.
VANA will have a maximum supply of 120 million tokens. Meanwhile, the launchpool token rewards will be up to 4.8 million VANA. Additionally, VANA will have an initial circulating supply of 30,084,000 tokens, representing 25.07% of the maximum supply, when it is listed on Binance Spot.
Following this announcement, the value of the VANA token jumped by almost 70%. This marks a typical reaction of tokens ahead of imminent listings on popular exchanges.
VANA Price Performance. Source: GeckoTerminal
Meanwhile, this listing announcement comes after Vana raised $25 million in a funding round co-led by Coinbase Ventures, Polychain Capital, and Paradigm. This capital raise sets the tone for the project’s expected airdrop, which is targeted at tech-savvy participants.
The article Velodrome Finance skyrockets 200% with Binance listing was first seen on BeInCrypto Brasil.
