Binance, the leading cryptocurrency exchange, recently announced the introduction of Portal, its new altcoin project. Portal, an interchain gaming platform, aims to bridge various gaming ecosystems and attract a broader audience to the Web3 environment. This initiative will be part of Binance’s 47th Launchpool event, granting users the opportunity to stake their digital assets and earn PORTAL tokens.
Staking Opportunities with Portal
The upcoming Portal event invites participants to stake BNB or FDUSD to earn tokens over a one-week period. This staking opportunity is anticipated to commence on February 22, 2024. Binance has designed the staking process to include hourly caps for each participant, distributing a significant majority of the rewards to BNB pool stakers.
Portal’s token supply is fixed at 1 billion, with Launchpool distributing 50 million PORTAL tokens. This release represents 5% of the total supply, with an initial circulation of approximately 16.71%. The staking period will conclude on February 29, 2024, paving the way for the token’s subsequent listing on Binance.
Trading and Token Listing Post-Farming
After the farming period, Binance has scheduled PORTAL to be listed for trading on February 29, 2024. Multiple trading pairs will be available, such as PORTAL/BTC and PORTAL/USDT. Portal’s smart contract is based on the Ethereum Blockchain, offering compatibility and interoperability with other Ethereum-based projects.
The platform’s strategic launch through Binance Launchpool signifies Binance’s continuing efforts to expand its ecosystem and enhance its offering in the gaming and Web3 sectors. Portal is positioned to foster a more inclusive and interconnected gaming community through its innovative approach to token farming and staking.