Earlier today, Yi He, Binance’s co-founder, tweeted about Binance launchpad and launchpool, promising to scour for more good projects. This comes after reports of months of inactivity associated with the two Binance projects; the launchpad and launchpool. BNB’s reaction following the tweet indicates that public confidence in the Binance network increased.
Binance Launchpad and Launchpool to Find More Projects
Binance launchpad helps new crypto-focused projects to release coins and garner community followings at an early stage. Binance launchpool is more DeFi-focused, where investors stake tokens like BNB and BUSD to earn newly released tokens. The two Binance tools have been in operation for quite some time. Just recently, a Binance network co-founder Yi He, tweeted:
“We’d like to thank everyone for your great passion and enthusiasm for Launchpad and Launchpool. Roger that! To relentlessly serve what our community needs as we’re always committed to! We’ve set out to hunt for promising projects for you now.”
Based on the tweet, Yi He showed gratitude to the Binance community for always being ready to support the launchpad and launchpool. Yi He indicates that the Binance network is already looking for more reliable projects to launch via the launchpool and launchpad. Searching for new projects is a show of their gratitude to the community.
Launchpad Idle for Months
Reports show that the two Binance-based launch tools have been relatively inactive in the past few months. The launchpad has not hosted any sales for around eight months, since March this year. The last IEO on Binance’s launchpad was STEPN‘s in March. The STEPN move-to-earn token attracted massive attention within a very short period courtesy of Binance’s support.
The launchpool, which has also been relatively inactive, just recently listed Hashflow, a new project performing exceptionally well. According to the release by Binance, Hashflow was the 31st project ever listed on the launchpool, where investors stake BNB and BUSD in different pools and receive HFT tokens. Following some publicity in a short period, Hashflow announced that it would be listing HFT on Binance and MEXC.
IEOs and launchpools offer opportunities to invest in newly issued coins at low costs and earn significant profits quickly. The inactivity seen in Binance’s two launchpools means that investors have gone for months without getting earning opportunities from the two platforms. Hence, the fact that the community still supports the two Binance tools needed recognition.
Binance Coin Reacted After Yi He’s Tweet
Yi He made the tweet at just around 08:13 AM UTC, and within 1 hour, the BNB coin gained massively by about 2%. When Yi He made this tweet, the BNB coin was trading at just about $344.8. About 35 minutes after the tweet, the coin hit $350.05. The coin continued with the uptrend till about 9:20 AM UTC, when it hit $352.
Today’s bullish direction taken by the crypto space masked the price changes accompanying Yi He’s tweet. During the same period, some of the most significant coins by market cap, Bitcoin, Ethereum, Cardano, Solana and Doge, recorded losses. The tweet by Yi He boosted investors’ confidence in the Binance network and BNB token.
Source: https://crypto.news/binance-co-founder-yi-he-promises-to-find-more-projects-for-launchpad/