Portal, the cross-chain platform that aims to unite games and gamers from various blockchain networks, becomes the 47th project launching on the Binance Launchpool this week.
Users can earn the platform's token, $PORTAL, by staking in the supported pools. The farming period started a little over 10 hours ago and will run for 7 days (ends on the 28th of February at 23:59 UTC).
The total reward allocated is 50 million $PORTAL which accounts for 5% of the maximum token supply. As usual, only KYC-verified users can participate and earn the token.¹
The token will then be listed on the exchange for trading on the 29th of February, 10:00 UTC with PORTAL/BTC; PORTAL/USDT; PORTAL/BNB; PORTAL/FDUSD and PORTAL/TRY.
Staking Pools
▶️BNB Pool
- 40 million PORTAL or 80% of the total reward is allotted for those who stake BNB or have BNB holdings in locked products and on BNB Vault.
- Rewards are claimable at any time, and any unclaimed rewards will be credited to the user's Spot Wallet at the end of the farming period. The maximum hourly reward per user is capped at 23.8k PORTAL
- 16.2 million BNB are currently staked in this pool at this time of writing.
- 20 million PORTAL or 20% of the total reward is allocated (1.428 million PORTAL daily)
- Maximum reward per user is capped at 5.9k PORTAL per hour.
- At the time, there are already 2.2 billion FDUSD staked on this pool.
PORTAL Tokenomics²
- Ticker: PORTAL
- Token Type: ERC-20
- Smart Contract: Ethereum
- Total Maximum Supply: 1 billion PORTAL
- Initial Circulating Supply: 167,134,615 PORTAL or 16.71% of the maximum token supply will be available upon listing on Binance
↪️Distribution
The total supply of $PORTAL will be minted at genesis and vest to the
community treasury periodically over time.³
- Binance Launchpool: 50 million (5% of the total token supply)
- Team & Advisors: 23 million (23% of the total token supply)
- Treasury: 23 million (23% of the TTS)
- Private Sale Investors: 22 million (22% of the TTS)
- Public Sale Investors: 11 million (11%)
- Community Incentives 1 - 10 million (10)
- Community Incentives 2 - 4 million (4%)
- Liquidity Reserve: 2 million (2%)
↪️Utility
According to the project's Whitepaper, PORTAL is the native utility token of the Portal platform and it is vital in its ecosystem. It is to be used as transaction fees, node validation services, node purchases, governance, staking, exclusive purchases and access to partner networks, and platform payments (needed in Portal's marketplaces like MagicEden to buy or sell game assets.⁴
But wait, what exactly is Portal Platform?
Accordingly, it is a platform that offers a single or unified access point for players of any Web3 games and game-related transactions.⁵
Portal aims to provide a seamless, social, and secure Web3 gaming experience.⁶
From what I understand, it will serve as a one-stop login solution for any games on any chain. It will showcase different games on its platform and players can log in to it to discover and play.
It is indicated both on the site and on its Whitepaper that there are over 200 games in the Portal library.
Portal has partnered with Solana, Avalanche, Kalyton, Base, and Polygon. It will be releasing the Portal Wallet with Web 2 authentication, SDK Marketplace, and others in the next quarter. For further information and the project's roadmap, check them here.
For infotainment only. DYOR.
Sources: Portal / Whitepaper / Binance
Lead image created on Canva. Image from Portal. Screenshots linked to source. No copyright infringement intended 22022024/21:00ph