Binance introduced the new Launchpool project. In addition, the exchange announced Dual Investment and margin changes in various altcoin projects. Here are the details…
Binance announced the 41st Launchpool project: NFPrompt!
Binance, one of the leading cryptocurrency exchanges, introduced NFPrompt (NFP), its 41st project on Binance Launchpool. NFPrompt is designed specifically for Web3 content creators. It is also an innovative AI-driven User Generated Content (UGC) platform. The platform will go live in just 5 hours and will allow users to stake BNB, FDUSD, and TUSD to collect NFP tokens over a seven-day period, starting on the night of December 20, 2023.
A notable aspect of this launch is the implementation of Fair Mode by Binance Launchpool. This model aims to protect and promote the interests of the community and individual users. Under Fair Mode, a significant portion of the tokens are planned to be allocated to the community in the first circulation phase. All Launchpool tokens will then be released before listing. Additionally, Fair Mode will effectively reduce inflationary pressure by permanently preventing certain allocations from circulating.
Details of the listing: It will enter the stock exchange on December 27
After this period, Binance will list NFP on December 27, 2023 at 13:00 CET. Trading will begin with a variety of trading pairs including NFP/BTC, NFP/USDT, NFP/BNB, NFP/FDUSD, NFP/TUSD and NFP/TRY. The Seed Tag will be applied to NFP. The total token supply is 1,000,000,000 NFP and Launchpool token rewards will be 110,000,000 NFP. That means rewards will account for 11 percent of the total token supply. The initial supply amount in circulation will be 25 percent of the total token supply. So 250,000,000 NFP will be in circulation.
NFP, NFPrompt’s native token, serves a variety of functions on the platform, including staking to earn platform fees, voting, participating in creative contests, creating NFTs, and facilitating campaign matching rewards. The token also plays a role in the community by enabling influencers to purchase signature collections and promote their content.
New regulations for futures transactions
On the other hand, Binance Futures attracted attention with its last update on December 19, 2023. The platform has adjusted leverage and margin levels for various USDⓈ-M perpetual futures contracts. This change, which is valid as of 12:00 CEST, does not affect existing positions before the update. The regulations apply to TRBUSDT, BLZUSDT, UNFIUSDT, RNDRUSDT and BAKEUSDT contracts. Significant changes include shifts in leverage limits, position thresholds and maintenance margin rates.
Binance announces new Binary Investment products
Binance continues to innovate in the cryptocurrency space. It also offers a new suite of Binary Investment products with revised Target Prices and Settlement Dates. These products allow users to participate in Buy Low or Sell High strategies, offering them the opportunity to earn rewards from popular cryptocurrencies. Binary Investment products operate on a first come, first served basis. Users can choose between Buy Low or Sell High with the freedom to choose their desired price and date for future payments. There is no fee for Binary Investment subscriptions. Cryptos subject to this service include BTC, ETH, SOL, MATIC, ADA, BNB, DOT, BCH, AVAX, FTM, ALGO, NEAR, ATOM, XRP, DOGE and LTC.
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