Louisa Crawford
13 Aug 2024 16:58
Binance announced Toncoin (TON) as the 56th project on Launchpool. Users can stake BNB and FDUSD to earn TON and participate in Super Earn.
Leading cryptocurrency exchange Binance has announced that it has added Toncoin (TON) as the 56th project on its Launchpool platform. According to Binance, users will be able to farm TON tokens by staking BNB and FDUSD tokens in a separate pool for 20 days starting August 15, 2024.
TON Launcher Details
Toncoin (TON) is a decentralized and open layer 1 blockchain. The total token supply is 5,110,422,426 TON, and 7,650,000 TON has been allocated as Launchpool token rewards. Users must complete KYC verification to participate in the staking pool.
- BNB Staking: 6,502,500 TON Rewards (85%)
- FDUSD Stake: 1,147,500 TON Reward (15%)
- Farming Period: August 15, 2024 00:00 (UTC) ~ September 3, 2024 23:59 (UTC)
TON Super Accumulation
Binance has also introduced the ‘Super Earn’ program with Launchpool. This new initiative allows users to lock their TON in Simple Earn Locked Products and enjoy special annual percentage rates (APR). A separate announcement will be made when TON Super Earn opens.
APR and Daily Percentage Rate (DPR) are limited-time promotions sponsored entirely by Binance’s respective token projects. These promotions are available for a limited time and will be available until the allocated amount is fully subscribed.
Additional information
Binance has outlined some important points regarding the staking and rewards accumulation process.
- Snapshots of user balances and total pool balance are taken multiple times per hour to calculate user rewards.
- Users can claim their rewards directly to their Spot account at any time.
- The Annual Percentage Yield (APY) for each pool and the total pool balance are updated in real time.
- Tokens can only be invested in one pool at a time, but can be split across multiple pools.
- You can release your funds at any time without delay.
- Staked tokens and unclaimed rewards will be transferred to the user’s Spot account at the end of each farming period.
- BNB Vault and Lock products support Launchpool, allowing users to automatically participate and earn new token rewards.
There are certain restrictions on participation depending on the user’s location. Currently, residents of Australia, Canada, Cuba, Crimea, Iran, Japan, New Zealand, the Netherlands, North Korea, Syria, the United States, and some non-government controlled areas of Ukraine cannot participate in TON farming. Super Earn is also blocked in Brazil, Hong Kong, and the United Kingdom.
For more details, please refer to Binance’s announcement.
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