I'm often on the lookout for new projects that are coming on the Launchpad in Binance. It's a good way to earn free tokens or coins if you have idle funds on the exchange, although I don't recommend leaving a huge amount there. The previous token, ACE had been a source of additional profits when its price pumped up to over 4000% after its listing.
Earlier today, farming of the 41st token (NFPrompt) on the Launchpad went live. As usual, only KYC-verified users and those residing in unrestricted countries are eligible to participate.
👉Launchpool Details
- Farming Period: 7 days, 20th December 00:00 UTC to 26th December, 23:59 UTC
- Token Rewards: 110 million NFP (11% of the Total Token Supply)
- Initial Circulating Supply: 25% of total supply (250 million NFP)
👉Supported Pools
There are 3 pools available for this and users are allowed to stake separately in any of them to earn NFP. The rewards are calculated every hour and users can claim them at any time. Any unclaimed earnings will be automatically credited to the user's Spot Wallet when the farming period ends.
Users who have BNB in the BNB Vault and other Locked Products will receive rewards directly to their Spot wallets as they are automatically considered participants.
And yes, there are no lockup periods when staking. There are no restrictions so users can easily remove their assets from it at any time. The total daily rewards for all 3 supported pools are 15,714,285.71 NFP (distribution details below).
1️⃣ BNB Pool
- Total rewards allocated to this pool are 88 million NFP (80% of the total Launchpool rewards)
- 52,380.9523 NFP per hour and 12,571,428.57 daily
- The hourly maximum cap per user is 52,380.95 NFP.
- Over 12.6 million BNB are currently staked on this pool at the time of this writing.
2️⃣ FDUSD Pool
- Total allocation: 11 million NFP (10% of total Launchpad rewards)
- Daily rewards: 1,571,428.57 NFP
- Hourly max cap per user: 6,547.62 NFP
- At the time of this draft, there are over $779 million FDUSD staked.
3️⃣ TUSD Pool
- Similar to the FDUSD Pool, 10% of the total Launchpad rewardsares allocated to TUSD pool (11 million NFP).
- Daily rewards: 1,571,428.57 NFP
- Hourly max cap per user: 6,547.62 NFP
👉Token Listing
Binance will list the NFP token with the Seed Tag (volatile asset) on the 27th of December at 10:00 UTC with the following trading pairs:
- NFP/BTC
- NFP/USDT
- NFP/BNB
- NFP/FDUSD
- NFP/TUSD
- NFP/TRY
Source
Brief Intro to NFP
NFPrompt (NFP) or Non-Fungible Prompt is an AI-driven User Generated Content (UGC) platform for Web3 creators. It's an all-in-one platform with the power of AI creation, social community, and commercialization.¹
Accordingly, users can create, own, socialize, and earn NFP.
Per Cointelegraph, it is the first AI-powered NFT platform that mints your imagination onchain. The NFPrompt platform has AI tools for anyone who wants to create their art through text prompts and truly own it.
NFPrompt is the first Prompt Artist Platform in Web3, which lets you mint your imagination into an AI-generated NFT. Collectors and enthusiasts can buy and sell the NFT together with the prompt that was used to generate the image.²
In simple words, NFPrompt is a platform where users can explore and unleash their creativity by making their AI-generated art and earning from it.
The platform has a creator community or a social media where content is rewarded (SocialFi) and allows AI art (music, PFP, images, video) generation. It has an AI marketplace on the opBNB network where created arts are traded.
Projects or brands can also create theme-creation contests or campaigns on the platform and incentivize the participants.
Token
- Token Type: BEP-20
- Ticker: $NFP
- Maximum Total Supply: 1 billion NFT
- Initial Circulating Supply: 250 million (25% of total supply) once it gets listed on Binance
Distribution
Binance Launchpool: 110 million NFP (11% of the total token supply)
Initial Airdrop: 100 million NFP (10% of the total token supply)
Investors: 100 million NFP (10% of TTS)
Team: 150 million NFP (15% of TTS)
Short-term Growth Fund: 270 million NFP (27% of the TTS)
Long-term Treasury Fund: 270 million NFP (27% of the TTS) - non-circulatable which means:
Cannot be spent or sold and they won't be in circulation. They can be used to participate in the ecosystem through methods like staking to share rewards and benefits from the project after they are vested, but they do not carry any governance rights. The rewards generated can be used for the long-term operation and sustainable growth of the project.³
Token Utility
Staking: Holders can stake $NFP to earn a share of the platform fee. Users will have to stake $NFP to get votes. They can also vote for their favorite art and participate in creative contests to win rewards.
Payment: NFP is used by brands or projects to pay for theme creation contests. Users also need to pay NFP to create images, videos, PFP, or music NFTs.
Campaign matching rewards: The NFP tokens are also used by the NFPrompt platform to match the sponsors' rewards to increase a bigger prize pool for the campaigns.
Community: NFP tokens are used by influencers to purchase signature collections in the SocialFi system and they can also use the token to promote their content.
Governance: NFP holders can vote and engage in the future governance of the NFPrompt ecosystem.
[Info Source: Binance Research and NFP website]
Thoughts
While there are certain risks associated with keeping one's assets on the CEX, the Binance Launchpool is a good way for users to get a share of new tokens that are being launched and eventually listed on the exchange.
NFPrompt sounds like a promising project and I intend to explore the platform further. I might even participate in the ongoing campaigns to see how it works.
For infotainment only. As always, none of these are an endorsement of the product. NFA. DYOR.
[References: NFPrompt / Binance Launchpool / Announcement / Research / NFP Whitepaper / Cointelegraph]
Lead image created on Canva. Images/Logo from NFPrompt and Binance. No copyright infringement intended.15:45ph