What Is Binance Launchpad?
Binance Exchange is one of the world's most popular (and the largest) cryptocurrency exchanges. It offers some of the lowest transaction fees and highest liquidity among the leading exchanges in crypto space. Buyers who use its native utility token, BNB, get significant discounts on tradings, among other benefits.
The exchange features over 500 cryptocurrencies, notably Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), and its very own Binance Coin (BNB).
Binance Launchpad is a Binance-owned crowdfunding platform that assists crypto-startups in raising funds by offering their tokens to Binance users. It is the pioneer of Initial Exchange Offering (IEO) mechanism, a widely popular method among crypto-startups to gather funds.
Qualifying for the Binance Launchpad platform has a lot of benefits like:
- Such startups get featured on Binance, one of the top cryptocurrency exchanges by volume. It gives these projects exposure to millions of users from all over the world.
- Projects that are listed on Binance Launchpad eventually achieve high liquidity in several trading pairs.
- The newly listed cryptocurrency gets issued instantly to a huge user-base on Binance as it becomes a holder of that coin/token.
- Binance provides complete assistance and guidance to blockchain startups and helps them grow within the Binance ecosystem.
Since its inception in 2019, Binance Launchpad has raised over $107 million for 49 projects, at the time of writing.
Binance Launchpad leads the crypto industry in terms of fundraising and linking investors to new and potential blockchain companies. There have been many successful Launchpad projects so far, and to celebrate the most successful ones, each year an award is given to the highest performer. The nominees comprise of projects that were introduced during the last year that had a positive ROI during their initial exchange offering (IEO) but have not been purchased by Binance. Factors like ROI, market influence, and traction, as well as the amount of interaction with the Binance ecosystem, are considered while picking the winning project.
For the year 2020, the six nominees were Axie Infinity, Lab Sandbox, Safepal Tokocrypto, Injective Protocol, and Alpha Finance. The winner was Alpha Finance which offered DeFi investors leveraged yield farming services on both Ethereum and the Binance Smart Chain.
To summarize, Binance Launchpad is a platform that assists and guides crypto-startups on how to launch and promote their token in the most efficient way possible, apart from gathering funds for the project. It offers a comprehensive range of services, from consulting prior to the token's release through post-listing and marketing assistance to increase the token's popularity in the Binance ecosystem. Binance Launchpad lets project teams concentrate on project and product development while the Launchpad team handles marketing, visibility, and the first user base. A blockchain business with a unique and original vision in the crypto industry would be the ideal project for this platform.
