Hello Friends,
Good day to you. Hope the day is going well for you and it's going well for me also.
I have been trying to cover many aspects of the crypto market and recently I got to know about LaunchPool in the Binance exchange. I have not used this exchange so I was not aware of what is this all about but through one of the news articles I got to know about it. Interestingly, we can do farming for new projects just by depositing our coins. I don't know what exactly people think about this but as far as I know, it is a good option to go for.
People look for the airdrops and in most cases these airdrops are fake. I'm not sure but maybe even 1% of airdrops are genuine and legit so this way looks like the launch pool is the best option. The first requirement is to have the required coins which can be BNB or FDUSD. One is the exchange coin and the other is a stable coin adopted by the exchange so if we have either one or both then we have the option to be part of the launch pool.
The recent project called Ethena Farming is over now. Today the exchange will list the coin on the spot market. Listing on this exchange is a big thing and many projects are struggling. The reason why people use this exchange is because of the higher liquidity. This is also good for the projects because they get higher trading volume and also earn good revenue through trading. Based on the available data on the Internet this is one of the biggest international exchanges. It doesnt operate in India officially because recently Indian government has blocked its URL so the only option Indian users have is to use a VPN to access the exchange. The application is also removed from the Play Store and Apple Store. But if you have the application already on your phone you can access it.
The project which I just talked about is getting the exchange listing today and people who did the farming must be waiting for the listing. This is a good opportunity for people who are holding the required coins on exchange as they can earn free tokens which is free money for them. I think it is better than airdrop because we are not risking the money and it is completely legit so we need not worry about the security and many other issues. I have never participated in airdrop because I don't feel comfortable. I like this concept but I don't know if the exchange will be registering in India if they do I will try to be participating in future projects. I'm sure there will be listing many more projects in future and it can be a good option to participate and earn free tokens.
Conclusion
This coin will be listed today and very little time left so people who are holding the coin must be excited because they are going to get some free money and I think this is good. I hope someday I can also set up my account in this way so that I can be eligible to be part of such a project and earn some reward. It will take some time for me but I am trying to explore and understand all possible ways to understand it well and become part of it in future.
Thanks for stopping by