The Launchpool is one of my favourite platform, mainly because all new coins, tokens and projects have the BINANCE seal of approval. Last month I farmed $30 of ALPHA, Flamingo (FLM) and Venus (XVS) from the Binance Launchpool. See October Residual Income Report for a detailed breakdown.
If all the above ended at the end of October, CertiK (CTK) for Binance Coin holders is still live until the 8th of November. I was waiting for Binance to announce their 7th Launchpool project for update came came this morning. Hard Protocol (HARD) is now in the preparation period and Binance users will be able to stake Binance Coin, Binance USD and KAVA from tomorrow, the 3rd of November.
Hard Protocol is a decentralized and permissionless cross-chain money market build on KAVA, which will perform cross-chain asset lending and borrowing. It will allow over-collateralized borrowing and liquidity providers will be able to supply Bitcoin, Ripple (XRP), Binance Coin, Binance USD and USDX. HARD token is the governance token and will be used as reward for providing liquidity and borrowing cross-chain assets. HARD will be available for farming in the Launchpool for 30 days, starting from tomorrow. On the 6th of November, at 6 AM (UTC), HARD will be listed into the Innovation Zone, pairing for trades with Bitcoin, Binance Coin, Binance USD and Tether.
HARD has a total token supply of 80,000,000 and the maximum token supply could reach 200,000,000. The Launchpool will reward 7.5% (6,000,000) of the total token supply as farming/ staking reward. No staking cap and no KYC is required for HARD farming. The share between pools 60% (3,600,000 HARD) for Binance Coin holders, 30% (1,800,000 HARD) for KAVA holders and 10% (600,000 HARD) for Binance USD holders.
I currently have all my BNB on Certik farming and I will probably keep them there until the 8th of November when the project will end. Kava will go out from Binance Savings, where I was getting 2.5% APY and will end up straight into the HARD farming pool. The farming process will follow the same pattern as all previous projects, with snapshots of users balance taken hourly. The claim can be done every hour, as long as a reward has been generated, and once claimed will go straight into the Spot Wallet. The APY will be updated in real time and the assets can be unstaked at any time without any delays. At the end of the campaign, all staked assets and unclaimed reward will be transfereed into the Spot Wallet. The Binance Coin staked into the Launchpool is still considered for benefits and airdrops, such as the Swipe (SXP) distribution.
The only question for the first days is if users will prefer a lending token (HARD) or a security token (CertiK) as their farming option. If you want to learn more about Hard Protocol make sure you finish the keywords and don't ask google to search for a HARD P.
* currently testing ReadCash
Links and referrals:
HARD - KAVA
HARD whitepaper
Binance Launchpool - HARD
October Residual Income Report
Binance Launchpool: CertiK (CTK) for Binance Coin holders
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