Binance Launchpool: Earn NFPrompt (NFP) Tokens by Staking BNB or Stablecoins

Binance, the leading cryptocurrency exchange, has announced NFPrompt as the next project featured on their Binance Launchpool staking platform.

Until December 27, you can earn NFPrompt (NFP) tokens on Binance simply by staking your BNB, FDUSD, or TUSD. You can withdraw the coins you’ve staked at any time and keep the NFP rewards.

You can earn NFP on Binance Launchpool between December 20 and December 27. The amount of token rewards you earn will depend on how many coins you stake.

Earn NFP Tokens on Binance

Binance plans to distribute 11% of the total NFP token supply to users on Launchpool. This translates to 111 million NFP tokens out of a total supply of 1 billion tokens.

80% of these rewards will be distributed to BNB stakers, while the FDUSD and TUSD staking pools will receive 10% of the rewards each. However, this doesn’t necessarily mean that you will earn more NFP if you stake BNB rather than stablecoins. It all depends on how big the size of your stake is relative to the size of the entire staking pool. 

In addition to featuring the NFP coin on its Launchpool platform, Binance will also be listing NFP for trading on the Binance exchange. The token will be available for trading starting on December 27 in trading pairs against BTC, USDT, BNB, FDUSD, TUSD, and TRY. 

Introducing @nfprompt $NFP on #Binance Launchpool!

Farm #NFP by staking #BNB, $FDUSD and $TUSD.

➡️ https://t.co/WiTyYNaqGG pic.twitter.com/WMwuuB4F7Y

— Binance (@binance) December 19, 2023

It is worth noting that Binance will be listing ACE with the “Seed Tag”, which is used to label crypto projects that are still very early in their development. Cryptocurrencies with this tag were previously known in the “Innovation Zone”. The purpose of the Seed Tag is to let users know that the cryptocurrency might be more volatile and risky compared to most other cryptos listed on the exchange.

In addition, NFPrompt is the first project featured on Binance Launchpool under the “Fair Mode” system, which aims to protect retail users by imposing limitations on initial circulation and reducing inflation pressure. Here’s how Binance explains the new system:

“Fair Mode will allot significantly more tokens to the community under its initial circulation phase, and all Launchpool tokens will be released before the listing. Additionally, Fair Mode will permanently prevent some allocation from entering circulation to further reduce inflation pressure.”

What is NFPrompt (NFP)?

NFPrompt (short “for non-fungible prompts”) is an AI-powered platform that allows users to generate AI art by using prompts and mint it as a non-fungible token (NFT). In addition, NFPrompt seeks to provide a way for users to provide verifiable ownership of their AI art, which is instrumental for those who want to monetize their AI-generated creations.

King NFPengu, the official maschot of the NFPrompt project. Image source: NFPrompt

The core of NFPrompt is its ability to generate creative content from prompts. Users can input descriptions, styles, or specific instructions to guide the AI engine in producing unique artworks, images, videos, or even music. Once users are content with their AI-generated content, they can mint it as an NFT. This process involves embedding the artwork onto the blockchain, creating a unique and verifiable digital asset.

The NFPrompt marketplace allows users to browse, purchase, and trade NFTs created by others. They can also participate in themed campaigns, vote on featured NFTs, and earn rewards through various activities.

NFPrompt utilizes its native token, cNFP, to power its ecosystem. cNFP – the native token that represents the native token, NFP – is used for minting NFTs, participating in campaigns, and governance. It also serves as a reward mechanism for users who contribute to the platform.

In addition to the Launchpool campaign, the NFPrompt team plans to airdrop NFP tokens in the future to reward early adopters. While there’s no official timeline for the airdrop, the team has stated they will consider factors such as wallet activity, visibility of NFT creations, and event participation when distributing the airdrop.

How to earn NFP tokens on Binance Launchpool?

If you want to earn NFPrompt, the first thing you’ll need is a Binance account.

Create Binance Account

Please keep in mind that only users who complete an identity verification process with Binance are eligible to participate in NFPrompt token farming on Binance Launchpool.

Once your account is ready, you’ll need some BNB, FDUSD, or TUSD tokens to stake. If you already own these tokens, you can deposit some to your Binance account. Otherwise, Binance offers plenty of ways of buying these tokens with either crypto or fiat. 

After your account is verified and loaded up with some BNB, TUSD, and/or FDUSD, head over to the menu on the top side of the Binance interface and select “More“. Then, go to “Launchpad & Launchpool“.

Then, find the available NFPrompt farming pools. Depending on which tokens you want to stake, select the FDUSD Pool, TUSD Pool, or BNB Pool. Then, follow the instructions provided by the exchange.

It is worth noting that the last project to be featured on Binance Launchpool, Fusionist (ACE), recorded more than +3,800% gains after the exchange listing and an impressive +200% APY during the 5-day farming period.

As a final note, here’s a quick breakdown of key dates and information about the NFPrompt Launchpool campaign: