Binance has announced the addition of Memecoin (MEME) to its exclusive token launch platform Launchpool. This represents a major collaboration between Binance and 9GAG’s new Web3 venture studio Memeland, which focuses on meme-themed blockchain projects.
For a 30-day period from October 28 to November 26, Binance users will be able to earn MEME tokens by staking Binance Coin (BNB), TrueUSD (TUSD), or FDUSD in separate pools on Launchpool. There are three different staking pools, one for each token. This allows users to choose which assets to lock up to participate in the MEME generation event.
To take part in Memecoin farming, users are required to complete Know Your Customer (KYC) identity verification. There will also be hourly caps imposed on the maximum amount of MEME tokens users can earn for staking in each pool. The platform will update staking rewards on an hourly basis, allowing users to track yield in real-time. Rewards can be claimed to users’ spot wallets at any point during the farming period.
The annual percentage yield (APY) and total balance for each MEME staking pool will be visible on the Launchpool platform. This lets users monitor data like reward rates and pool participation. Although users can only stake in one pool at once, they can split their funds across multiple pools if desired. Any MEME rewards and staked tokens left unclaimed at the end of the 30-day period will automatically transfer to users’ Binance accounts.
For those staking BNB in Binance’s locked BNB Vault program, funds will be automatically directed into MEME farming, earning daily rewards without any other action required. Overall, the addition of Memecoin represents a major meme token launch for Binance as it continues to expand Launchpool in collaboration with innovative partners like Memeland.
#Binance #Launchpool #Memecoin #Memeland #Cryptocurrency
