Binance has a Launchpad as part of its earn program for BNB holders. You may also say that it's a form of IEO.
Basically you hold BNB on Binance and once in a while (this time it is a loooooooog while due to bear market) a new project will be announced for subscription that basically scan your BNB balance for a period of time (7 days) and you are entitled to buy the new token at a very very cheap price proportional to your BNB averaged balance.
The latest Launchpad project is Hooked Protocol.
Web3 Gamified Social Learning Platform.
After the subscription, you will be allocated the tokens and the trading pair(s) will be initiated.
Based on my numbers, I got HOOK tokens worth roughly at $100 with like 15.5 BNBs (all I have).
So the return rate will be like 2.2% solely for this event.
Seems not too bad. If there is only 5 events like this one, it would be a 11% APR - good for a big coin like BNB.
For now I will HODL $HOOK as it's not really a big amount for me to cash in. I am willing to bet on it getting bigger. It's not like that I have DYOR, I am just a die hard gambler. XD