Binance Launchpool is a fantastic way to earn new tokens by staking your existing cryptocurrencies. Essentially, it's a centralized yield farming service that allows you to earn passive revenue from your crypto portfolio ¹.
Here's how it works:
- *Staking*: You stake your existing cryptocurrencies, such as BNB or stablecoins, for a specified period, usually 30 days.
- *Earning Rewards*: You earn new tokens as rewards, which are calculated every hour based on the amount you've staked, the advertised return (APR), and the total amount committed to the pool.
- *Flexibility*: After the initial seven-day farming period, you can trade your accrued tokens, add to your investment, or withdraw your tokens ².
Binance Launchpool offers a range of benefits, including:
- *Early Access*: Get early access to new projects and tokens.
- *Passive Revenue*: Earn passive revenue from your existing cryptocurrency holdings.
- *Security*: Benefit from Binance's secure and trusted platform.
Keep an eye on Binance's website and social media channels for announcements about new Launchpool projects and opportunities ¹.
