The cryptocurrency community is buzzing as Binance, the world’s largest crypto exchange, announced the upcoming Vana (VANA) airdrop through its Launchpool platform. This initiative offers users a chance to farm VANA tokens by locking BNB and FDUSD, with farming set to begin on December 14, 2024, at 00:00 UTC.
The announcement has already had a market impact, with Binance’s native token BNB surging +3.41% following the news.
Farm VANA on Binance
How to Farm VANA Tokens
Participants can earn VANA tokens by locking either BNB or FDUSD in dedicated Launchpool pools during the two-day farming period.
Supported Pools:
- BNB Pool: Offers the majority of rewards, with up to 8,500 VANA tokens per user.
- FDUSD Pool: Features smaller rewards, capped at 1,500 VANA tokens per user.
In total, 4,800,000 VANA tokens (4% of the max supply) have been allocated as farming rewards:
- 85% of rewards for the BNB pool.
- 15% of rewards for the FDUSD pool.
The farming period ends as Binance prepares to list VANA on its platform.
VANA Crypto Listing Details
Binance will officially list VANA on December 16, 2024, at 10:00 UTC, enabling spot trading with the following pairs:
- VANA/USDT
- VANA/BNB
- VANA/FDUSD
- VANA/TRY
Binance will apply a Seed Tag to the VANA token, signifying its status as a newly introduced asset on the platform.
Key Token Information:
- Token Name: Vana (VANA)
- Max Supply: 120,000,000 VANA
- Genesis Supply: 112,641,600 VANA (93.87% of max supply)
- Launchpool Rewards: 4,800,000 VANA (4% of max supply)
- Initial Circulating Supply: 30,084,000 VANA (25.07% of max supply)
Market Reaction: BNB Price Spikes
The announcement has generated significant interest, as evidenced by a +3.41% surge in BNB’s price shortly after the news broke. Binance’s Launchpool platform has proven to be a strong driver of market activity, with traders and investors quickly accumulating BNB to participate in farming opportunities.
Important Notes:
- Binance will be the exclusive listing platform for VANA initially, with trading to commence only after December 16, 2024, at 10:00 UTC. Be cautious of any pre-listing sales.
- Participation in the Launchpool requires KYC verification.
- The Launchpool webpage for locking BNB and FDUSD is already live.
As the countdown to VANA’s farming and trading begins, excitement is building across the crypto ecosystem. The Launchpool event, combined with the strong market performance of BNB, signals yet another impactful project for the Binance community.
Farm VANA on Binance
Source: https://coincodex.com/article/57423/bnb-price-rises-as-binance-announces-vana-airdrop/