Binance Launches Toncoin (TON) on Launchpool Platform
Binance, one of the prominent cryptocurrency exchanges, has introduced Toncoin (TON) as the 56th project on its Launchpool platform. This exciting development allows users to stake BNB and FDUSD tokens in separate pools to farm TON tokens over a twenty-day period starting from August 15, 2024.
Details of TON Launchpool
Toncoin (TON) operates as a decentralized and open Layer 1 blockchain, with a total token supply of 5,110,422,426 TON. Among these, 7,650,000 TON tokens have been designated as Launchpool rewards for users. To participate in the staking pools, users are required to complete the KYC verification process.
- Stake BNB: Users can earn 6,502,500 TON in rewards (85%).
- Stake FDUSD: Users have the opportunity to receive 1,147,500 TON in rewards (15%).
- Farming Period: The farming period is set from August 15, 2024, 00:00 (UTC) to September 3, 2024, 23:59 (UTC).
Introducing TON Super Earn
In addition to the Launchpool offering, Binance has launched the ‘Super Earn’ program. This innovative program enables users to lock TON tokens in Simple Earn Locked Products to access a Special Annual Percentage Rate (APR). Further details regarding TON Super Earn will be communicated through a separate announcement.
The APR and Daily Percentage Rate (DPR) associated with this program are exclusive offers, fully supported by the respective token project for Binance users. These promotional rates are available for a limited time and are subject to full subscription.
Important Points to Note
Binance has highlighted key information relating to the staking process and reward accumulation:
- Snapshots of user balances and total pool balances will be taken multiple times per hour to calculate rewards.
- Users have the flexibility to claim their rewards directly to their spot accounts at any time.
- The annual percentage yield (APY) and total pool balance for each pool will be constantly updated in real-time.
- While tokens can only be staked in one pool simultaneously, users can distribute them across multiple pools.
- There are no delays in unstaking funds, and they can be accessed at any time.
- At the conclusion of each farming period, tokens staked and any unredeemed rewards will be transferred to users’ spot accounts.
- The BNB Vault and Locked Products offer support for the Launchpool, enabling users to automatically participate and receive new token rewards.
Restrictions and Exclusions
There are certain limitations on participation based on user location. Currently, residents of Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, the United States, and some non-government controlled areas of Ukraine are restricted from farming TON. Additionally, Super Earn is unavailable in Brazil, Hong Kong, and the United Kingdom.
For more detailed insights, you can refer to the official announcement on the Binance website.
Hot Take 🚀
Embrace this opportunity to stake your BNB and FDUSD tokens, and farm TON tokens on Binance’s Launchpool platform. Stay tuned for updates on the TON Super Earn program and seize this chance to earn rewards through staking. Dive into the world of cryptocurrencies and make the most of the offerings available to you!
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