Binance, the largest crypto exchange on trading volume metrics, announced plans to list Velodrome Finance (VELODROME), adding the decentralized exchange (DEX) token to its spot trading catalog.
The exchange is also adding Vana (VANA) to its launchpool, with the project’s airdrop still in the pipeline.
Binance Lists VELODROME for Spot Trading
Velodrome Finance advertises as a next-generation DEX that serves as the liquidity hub for the superchain ecosystem. VELODROME token will be available for spot trading on Binance starting Friday, December 13, at 14:00 UTC.
It will trade against the USDT stablecoin. Of note, the new Binance listing comes with zero fees, which means traders can execute trades without incurring any charges.
“Users can start depositing VELODROME in preparation for trading 2 hours later. Withdrawals will open at 2024-12-14 14:00 (UTC),” Binance said.
Further, the exchange committed to a seed tag for this new listing, a precaution intended to distinguish VELODROME from any other token. Trading Bots and Spot Copy Trading functions will be enabled for the DEX token within 24 hours post-listing.
In the immediate aftermath of this listing announcement, VELODROME’s price soared by over 200%.
VELODROME Price Performance. Source: TradingView Binance Names New Project on Its Launchpool
In a parallel 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 their BNB and FDUSD to receive VANA airdrops over two days. Notably, farming will start from 2024-12-14 at 00:00 UTC.
Alongside the onboarding of VANA to Binance launchpool, the exchange will also list the token. It will be available for trading on Binance starting December 16.
“Binance will then list VANA at 2024-12-16 10:00 (UTC) and open trading with VANA/USDT, VANA/BNB, VANA/FDUSD and VANA/TRY trading pairs. The Seed Tag will be applied to VANA,” the exchange said.
VANA will have a maximum supply of 120 million tokens. Meanwhile, launchpool token rewards will be up to 4.8 million VANA. Further, the initial circulating supply when VANA is listed on Binance Spot will be 30,084,000 VANA tokens or 25.07% of the maximum supply.
Following this announcement, the value of the VANA token jumped by almost 70%. It marks a typical reaction from 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 targeting tech-savvy participants.
