Binance Launchpool offers a unique opportunity for cryptocurrency enthusiasts to earn new tokens by staking existing assets. This guide provides a detailed overview of the Manta (MANTA) mining event, including its mechanics, potential returns, and step-by-step participation instructions.
What Is Binance Launchpool?
Binance Launchpool is a platform that allows users to stake cryptocurrencies like BNB or FDUSD to farm new tokens before they list on the exchange. Unlike traditional fundraising methods, it requires no financial commitment beyond staking, and participants can withdraw their funds at any time. This model provides exposure to new projects with minimal risk.
The process is similar to initial public offerings (IPOs) in stock markets but tailored for the crypto space. It’s designed to be accessible, with no minimum investment requirements, making it ideal for beginners and experienced traders alike.
Understanding Binance Exchange
Binance is the world’s largest cryptocurrency exchange by trading volume, serving over 170 million users globally. Founded in 2017, it offers a wide range of services, including spot trading, futures, savings products, and token launch platforms like Launchpool and Launchpad.
The platform is known for its security, liquidity, and user-friendly interface, making it a top choice for crypto investors.
Introduction to Manta Network and MANTA Token
Manta Network is a modular blockchain ecosystem leveraging zero-knowledge proof technology (zkEVM) to offer scalable, low-cost transactions. Its native token, MANTA, facilitates governance, staking, and gas fee payments within the network.
The Binance Launchpool event for MANTA allows users to stake BNB or FDUSD to earn tokens before its official listing.
Manta Launchpool Event Rules
The event operates on a staking model where rewards are distributed hourly based on the proportion of assets staked. Two pools are available: BNB and FDUSD.
- BNB Pool: 24,000,000 MANTA allocated
- FDUSD Pool: 6,000,000 MANTA allocated
Rewards are calculated per hour, with caps per user to prevent dominance by large stakeholders. However, these limits are high enough that most participants won’t be affected.
Event Timeline
- Farming Starts: January 16, 2024, 08:00 UTC
- Farming Ends: January 18, 2024, 07:59 UTC
- Token Listing: January 18, 2024, 18:00 UTC
To maximize returns, stake your assets as early as possible and keep them deposited for the entire duration.
What Is FDUSD?
FDUSD is a USD-pegged stablecoin issued by First Digital Limited, a Hong Kong-based financial institution. It can be swapped for other stablecoins like USDT on Binance’s spot market.
Expected Returns and Risks
Returns depend on the total value staked in each pool. Fewer participants generally mean higher rewards per stakeholder.
Assumptions for estimation:
- BNB price: $310
- MANTA price: $2 (based on pre-listing OTC data)
- Staked amounts: 15,000,000 BNB and 1,400,000,000 FDUSD
Estimated rewards:
- BNB Pool: ~1.6 MANTA per BNB
- FDUSD Pool: ~0.0042 MANTA per FDUSD
Annual Percentage Rate (APR) approximations:
- BNB Pool: ~132%
- FDUSD Pool: ~153%
Key Takeaways
- The BNB pool may offer higher returns but carries exposure to BNB’s price volatility.
- The FDUSD pool provides stablecoin-based returns with no volatility risk.
- Using borrowed BNB involves interest costs, which may reduce net gains.
How to Participate in Binance Launchpool
Step 1: Create and Verify a Binance Account
Sign up for a Binance account and complete the Know Your Customer (KYC) verification process. This is mandatory for participation.
Step 2: Deposit Funds
Deposit BNB or FDUSD into your Binance wallet. If you hold other cryptocurrencies, convert them to one of these assets.
Step 3: Access Launchpool
Navigate to the Launchpad section from Binance’s homepage or menu.
Step 4: Stake Assets
Select the MANTA event and stake your BNB or FDUSD. You can participate in both pools simultaneously.
Step 5: Claim and Manage Rewards
Rewards accumulate hourly and can be claimed after the event ends. MANTA tokens will be credited to your spot wallet.
Frequently Asked Questions
What is Binance Launchpool?
It’s a staking-based platform where users can earn new tokens by depos supported cryptocurrencies like BNB or stablecoins.
Is there a minimum staking amount?
No, you can stake any amount. Rewards are proportional to your share of the total staked assets.
Can I unstake my funds during the event?
Yes, staked assets can be withdrawn at any time without penalties, but this will stop reward accumulation.
How are rewards calculated?
Rewards are distributed hourly based on your staking share. The more you stake, the higher your rewards.
What happens after the event?
Staked assets are returned to your wallet, and earned MANTA tokens become tradable after listing.
Are there risks involved?
The primary risks are price volatility of staked assets (like BNB) and potential fluctuations in MANTA’s listing price.
Conclusion
Binance Launchpool provides a low-risk avenue to acquire new tokens like MANTA. By staking BNB or FDUSD, users can earn rewards while maintaining flexibility. Always assess your risk tolerance and market conditions before participating.
For real-time updates and advanced tactics, 👉 check our latest guides.