Binance has officially announced its 47th Launchpool project, Portal (PORTAL), an initiative to boost user engagement with a new staking opportunity for BNB and FDUSD holders, aiming to further integrate gaming platforms within the blockchain ecosystem. The platform will offer an exclusive seven-day window where users can stake their digital assets into distinct pools to farm PORTAL tokens.
After the farming phase, Binance is scheduled to list PORTAL on February 29, 2024, at 10:00 (UTC). The listing will introduce several trading pairs, including PORTAL/BTC, PORTAL/USDT, PORTAL/BNB, PORTAL/FDUSD, and PORTAL/TRY, broadening the accessibility for traders globally.
Launchpool Token Economics
The PORTAL token will have a maximum supply of one billion, with 5% allocated as Launchpool token rewards. Based on Ethereum’s innovative contract framework, the initial circulating supply will constitute 16.71% of the maximum. The staking process requires completing the Know Your Customer (KYC) verification.
Participants can engage in the Launchpool via two main pools –
and FDUSD – with a sizable hourly hard cap for each user. The BNB pool offers a larger reward portion, with a daily distribution reflecting this emphasis. Rewards accrue hourly and can be claimed at any time, transferred directly to users’ spot accounts.
Binance allows unstaking at any time without delay and immediate participation in other pools. The Binance BNB Vault and Locked Products will automatically include users in the Launchpool, distributing new token rewards accordingly. The system ensures equitable allocation even when multiple Launchpool projects are running simultaneously.
International users should note eligibility criteria based on residency and verification status. Binance has listed several excluded countries and regions where residents cannot partake in PORTAL farming, citing legal and regulatory frameworks. This list is subject to periodic review and updates to comply with international standards.
Source: https://blockchainreporter.net/binance-launches-47th-project-portal-portal-to-enhance-cross-chain-gaming/