How to Get Started with Binance Launchpool?

2020-10-10 02:46

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Video Tutorial

What is Binance Launchpool?

Binance Launchpool allows users to lock their crypto assets to get token airdrops. Users can lock BNB, FDUSD, and other tokens, to get new or existing tokens at no extra cost.

How to access Launchpool?

1. Log in to your Binance account and go to [More] - [Launchpool].

2. Scroll down to [Launchpool]. You’ll see a list of the available and completed projects.

How to participate in a new Launchpool project?

Let’s take IO as an example.

On the project page, you can see the project airdrop information, locking period, and the available options to lock your token. For example, [BNB Pool] means that you can lock BNB to get IO tokens.

Under [My Funds]:

  • You can view your locked assets and the available balance in your Spot Wallet. If you don’t have enough tokens to lock, you can click [Buy] to get more.
  • To participate in the launchpool, click [Lock].
  • To redeem your assets, click [Unlock]. You can redeem your assets any time.

Under [My Airdrops]:

  • You can view your unclaimed airdrop tokens. The number is updated every hour.
  • Click [Collect Airdrops] to claim the airdrop tokens to your Spot Wallet anytime you wish. All unclaimed tokens, along with the locked tokens in Launchpool, will be automatically transferred to your Spot Wallet within 90 minutes after the locking period ends.
  • To view your locking and token-claiming records, click [Launchpool History].

Frequently Asked Questions

1. What is Launchpool and how does Launchpool work?

Binance Launchpool allows users to lock their crypto assets to get new or existing tokens. Users can lock BNB, FDUSD, and other tokens, to get new or existing tokens at no extra cost.

2. Who can participate in Binance Launchpool?

Users who have completed identity verification for their Binance accounts and who are residing in an eligible jurisdiction can participate in Binance Launchpool.

Currently, users residing in the following countries or regions cannot participate in Binance Launchpool, including: Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine.

*Please note that the above list is not exhaustive and subjects to changes due to evolving local rules, regulations, or other considerations.

3. How to participate in Launchpool?

You can lock your BNB, FDUSD, or other tokens available for locking as stated on the Launchpool page during the locked period. If you’re eligible to participate, the airdrop tokens will be credited to your Spot Wallet after the locking period ends. You may also claim the accrued airdrop tokens anytime you wish.

If you’ve locked your BNB in BNB Flexible Products and/or Simple Earn Locked Products, it will automatically be counted as part of your BNB balance for Launchpool and you’ll be able to receive token airdrops. However, please note that BNB Flexible Products assets collateralizing against Binance Loans (Flexible Rate) are not entitled to Launchpool airdrops.

4. What is the minimum amount of token for locking in a Launchpool?

You need to lock a minimum of 0.01 token to participate in a Launchpool. This applies to all tokens available for locking.

5. Are the airdrops different for different pools?

Yes, the airdrop tokens allocated to each pool are different.

Your airdrop tokens will be distributed according to the proportion of your locking amount to the total locking amount of all users in that pool.

The airdrop tokens can vary depending on several factors:

  • Each pool has a different amount of airdrop tokens allotted.
  • The amount of tokens locking in each pool is different.

These factors determine the number of airdrop tokens each participant can earn in different pools.

6. Can I lock my tokens in Launchpool while they are held in other products?

Tokens in the following Binance Earn products are eligible to be counted as part of the total amount of token locked.

  • BNB in Simple Earn Flexible Products, excluding BNB that are pledged as Binance Loans (Flexible Rate) collateral; and
  • BNB in Simple Earn Locked Products (any duration).

In case of early redemption for Locked Product, you’ll still receive Launchpool airdrop tokens hourly until the locked assets have been fully returned to your wallet. This may be subjected to changes.

7. Are the Launchpool airdrops the same for the products mentioned in #6?

Yes, they can enjoy the same airdrops.

8. When will the Launchpool token be listed on Binance?

Please refer to the listing information on the Announcement page.

9. Can sub-accounts and corporate accounts participate in Launchpool?

Yes.

10. How are Launchpool tokens calculated?

Your airdrop tokens will be distributed according to the proportion of your locking amount to the total locking amount of all users.

Please note that the total snapshot locking amount and snapshot time are flexible. Balances and total pool balances are snapshot multiple times every hour to calculate users' hourly average balances and the amount of airdrop tokens they can receive. Airdrop tokens are accrued every hour.

11. When can I claim my airdrop tokens?

Airdrop tokens are accumulated hourly. You can claim them to your Spot Wallet anytime you wish.

12. What happens to my accrued airdrop tokens if I don't claim them?

All unclaimed airdrop tokens, along with the locked tokens in Launchpool, will be automatically transferred to your Spot Wallet within 90 minutes after the locking period ends.

13. I have locked FDUSD or BNB, but why am I not receiving any reward distribution?

The amount of reward distribution would differ based on the user’s locked asset amount and the respective token pool. If the hourly reward distribution is calculated to be less than 0.01, you may not receive a reward.

The hourly reward distribution is calculated using the following formula:

(User's locked asset amount / Total FDUSD or BNB locked) * (Today's Token Pool Airdrop / 24)

You may choose to increase the locked asset amount to increase the hourly reward distribution.

14. What are the differences between Megadrop and Launchpool?

Please refer to the image below for details.

15. I participated in Launchpool by subscribing my BNB to Simple Earn products or by placing my DeFi BNB assets in the Web3 Wallet. With multiple Launchpool projects currently ongoing, can I adjust the amount of BNB I have locked for each project?

Yes, you can. By default, your BNB positions in Simple Earn and DeFi BNB Assets in the Web3 Wallet will be distributed evenly across all ongoing projects. You can adjust the BNB allocation on the Launchpool page to set your preferred percentages. Please note that adjustments can only be made when there are multiple projects upcoming or ongoing.

To adjust the allocation on the website, go to the Launchpool homepage and click [BNB Allocation].

If you’re using the app, tap the adjustment icon on the Launchpool homepage.