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Binance announced the 21st project added to the Launchpool. Klaytn (KLAY) will be added for farming today at 00:00 AM (25th of June) and will be a shorter pool than usual, running for only two weeks.
This project will overlap with Automata (ATA) Launchpool and there holding BNB in the BNB Vault will reward both KLAY and ATA. The Automata Launchpool will finish in 6 days and to farm KLAY only, users must stake BINANCE Coin (BNB) in the KLAY pool. I am happy with 116 ATA farmed until today and I withdrew the hole stash of BNB and stake it for KLAY.
The Klaytn Network (KLAY) farming pools will become available from 14 days, and KLAY Binance users will farm KLAY by staking Binance Coin (BNB), and Binance USD (BUSD)! Create a Binance account here!
The Klaytn public blockchain was developed by Ground X, a branch of KAKAO. The Korean internet giant opened the blockchain branch as a method to create better products for their 50 million users and to avoid low performance such as performance limitations due to current out-of-date blockchain technology.
The protocol is governed by a board of ecosystem builders and service providers that will focus on the long-term evolution of the protocol. The Klaytn Board is one of the largest blockchain consortia consisting of global enterprises and will lead the network into a DeFi journey, NFT adoption and digital currencies.
The KLAY token is powering the Klaytn Network, and can be used for token transactions and fees, yield farming and liquidity provision, minting NFTs and secondary governance. 9.6 KLAY will be minted per block when the mainnet will go live.
KLAY has 10,602,731,555 total token supply and the Binance Launchpool will distribute 1,327,433 KLAY. The farming rate will not change during the farming period and the Binance Coin (BNB) pool has allocated 80% of the reward, 1,061,946.4 KLAY tokens. The Binance USD (BUSD) pool will distribute the remaining 265,486.6 KLAY tokens. The reward will be updated hourly and the APY will be updated in real time. All the staked assets and unclaimed rewards will be transferred in the Spot Wallet at the end of the campaign.
I staked in both pools and to do this I had to withdraw the BUSD from BSC Harvest Finance where they were staked for 7% APY. I staked them just few days ago, when the Automata (ATA) farming rate was reduced. Not they are coming back in the Launchpool to farm KLAY.
I staked BUSD in the KLAY pool and I will keep them in there for 14 days, unless a new Launchpool gets added or a DeFi project will add a pool with amazing BUSD APY.
I wanted to farm KLAY only, therefore I withdrew the Binance Coin from the BNB Vault. Staked all in the pool and in 1 hour I farmed 0.04 KLAY, which is approximately $0.04 as the token hoovers close to 1 USD. Happy farming my friends!
Project Links
Website: https://www.klaytn.com/
Whitepaper: https://www.klaytn.com/Klaytn_PositionPaper_V2.1.0.pdf
Telegram: https://t.me/Klaytn_EN GitHub: https://github.com/klaytn/klaytn
Twitter: https://twitter.com/klaytn_official
Resources and residual income:
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