Luisa Crawford
Aug 13, 2024 16:58
Binance announces Toncoin (TON) as the 56th project on Launchpool. Users can stake BNB and FDUSD to farm TON and participate in Super Earn.
Binance, a leading cryptocurrency exchange, has announced the addition of Toncoin (TON) as the 56th project on its Launchpool platform. According to Binance, users will be able to stake their BNB and FDUSD tokens in separate pools to farm TON tokens over a twenty-day period, starting from August 15, 2024.
TON Launchpool Details
Toncoin (TON) is a decentralized and open Layer 1 blockchain. The total token supply stands at 5,110,422,426 TON, with 7,650,000 TON allocated as Launchpool token rewards. Users must complete KYC verification to participate in the staking pools.
- Stake BNB: 6,502,500 TON in rewards (85%)
- Stake FDUSD: 1,147,500 TON in rewards (15%)
- Farming Period: August 15, 2024, 00:00 (UTC) to September 3, 2024, 23:59 (UTC)
TON Super Earn
In conjunction with the Launchpool, Binance has also introduced the ‘Super Earn’ program. This new initiative allows users to lock TON in Simple Earn Locked Products to enjoy a Special Annual Percentage Rate (APR). A separate announcement will be made when TON Super Earn opens.
The APR and Daily Percentage Rate (DPR) are limited-time offers, fully sponsored by the respective token project to Binance. These promotions are available for a limited period and until the allocated amount is fully subscribed.
Additional Information
Binance has outlined several important points regarding the staking and reward accumulation process:
- Snapshots of user balances and total pool balances will be taken multiple times each hour to calculate user rewards.
- Users can claim their rewards directly to their spot accounts at any time.
- Each pool’s annual percentage yield (APY) and total pool balance will be updated in real-time.
- Tokens can only be staked in one pool at a time but can be split between multiple pools.
- Funds can be unstaked at any time with no delay.
- Tokens staked and any unclaimed rewards will be transferred to users’ spot accounts at the end of each farming period.
- BNB Vault and Locked Products will support the Launchpool, allowing users to automatically participate and receive new token rewards.
There are certain restrictions on participation based on user location. Currently, residents of Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, the United States, and some non-government controlled areas of Ukraine are excluded from participating in farming TON. Additionally, Super Earn is blocked in Brazil, Hong Kong, and the United Kingdom.
For more detailed information, visit the announcement on Binance.
Image source: Shutterstock
Credit: Source link
