What is Binance Launchpad? How to Participate in Token Sales?
Binance Launchpad is a platform that allows cryptocurrency projects to raise funds after issuing their own tokens and go on sale before being listed on Binance. During this process, some projects could not reach many people, while others took the money and ran away because they were scammers.
Binance chooses the projects to be sold on Binance Launchpad and runs the whole process itself. Projects offered for sale are listed on Binance in a very short time.
How Can I Join Binance Launchpad?
First, you need to have an account on the Binance exchange. By registering with Binance here, you can earn 20% commission discount on all your lifetime transactions, and if you use Binance’s own token, BNB, you can also earn an additional 25% discount.
Registration: Click for Discounted Membership
After you become a member, you have to submit your ID card and confirm your account. If you have problems during the KYC process, you can read the article here.
In order to participate in the projects that will be sold on Launchpad, you need to have BNB in your account. Although the rules may change a little when each project goes on sale, in general, the more BNB you hold, the more shares you can get from the sales in your account. My suggestion would be to keep BNBs in your spot account, especially during the Launchpad time. When calculating your average BNB balance, the amount of BNB in your account is constantly checked. As you can see in the table below, your BNBs on “DeFi Staking”, “Locked Staking” and “Liquid Swap” are not included in the average. In order to avoid confusion during the preparation period of Launchpad, it would be best to keep it in the spot account in case these rules may change in the future. This period is usually 7 days and the dates are announced in advance.
After calculating how much BNB everyone holds on average, the participation period starts, this process is very important. “Token Purchase Agreement” will appear on the Launchpad page, you only need to confirm it once. After that, you should lock up as much as the BNB balance you want to join. The time given to do this is about 4 hours. If you want to join Launchpad, you may need to follow Binance’s related page and announcements closely, wake up by setting an alarm if necessary and join. If you forget to participate during this time, you lose your chance.
The next step is to calculate how many tokens everyone can buy. If there is a lot of interest in the project, you may encounter less tokens than you expect, the extra BNBs you lock are returned to your account.
The final stage is token distribution. The next process you need to follow is when the project will be listed on Binance and the start time of trading. Since there is a very volatile pricing in the first minutes for the tokens listed on Binance, you still need to pay attention to this process, if necessary, you may need to wake up by setting an alarm and buy and sell.
More than 20 projects have been put up for sale on Binance Launchpad to date. For example, the Coin98 project is currently on sale. This is how information about the sale is included on the Launchpad page.
There are also detailed reviews of Binance Research about the projects that are on sale on Launchpad. You can find the review of the Coin98 project here.
Alp IŞIK
⚠️The information, comments and recommendations contained here and in my social media accounts are not within the scope of investment consultancy.
