Hello Friends,
Good day to you. I hope the day is going well for you and it's going well for me too.
For the last few weeks, I have been trying to track the projects coming to LaunchPool on the Binance exchange. I have not invested in any project and it is also not easy because the price of BNB tokens is high but we also have the option for FDUSD stablecoin. I am trying to figure out how this entire mechanism works and how the users are rewarded. The exchange has got this option through which the exchange listing for the project is easy and this is why they come through the launch pool. With this option, the exchange users are rewarded with tokens if they are participating in the event.
The event is basically to participate through farming and for that purpose, they are required to deposit the tokens as expected on the project. These are BNB and FDUSD coins and these need to be deposited for farming. It is a fantastic option to choose from because I have seen people earning good money and some of the people I know also participate. People who purchased B N B tokens in the early days must be very happy now because they are earning good just for holding the coins in an exchange wallet. This exchange is blocked in India so must be very difficult for many users but somehow I can access it using the VPN. It is not advisable to use a VPN for accessing the exchange URL but I do because I don't perform any financial transactions so there is no problem even if it is blocked. I don't think this will result in the block case because I just accessed the website to see how is it going and it is more of my knowledge.
The coin for the latest launch pool project is listed on the spot market and this is called saga. It is one of the best projects out of the ones that are listed in exchange and I am saying this based on the price value in the market. Below is the graphical representation for this project where you can see that there is a lot of money inflow and the outflow percentage is also the same overall. The numbers are looking good and I can see a lot of people in the lodge buy. More buying on any project can add value to the price and it can also make the coin more valuable in the market.
Generally, people start dumping the token after the listing but with this project, I can't see that happening and this is why its a clear indication that the project is fundamentally strong. I have not gone through the project in detail but the white paper is provided on the page so I'll be trying to go through that to have a deep understanding. Looking at the overall statistics for this project after listing looks like it is going to be even more valuable. Or any coin the utility is the major component and if any project can build it it's going to be a great value for the entire project.
Conclusion
I would not say that it's financial advice but if you are holding the appropriate coins in the exchange wallet, it can be a good idea to participate. I wouldn't say that it's financial advice that you need to follow instead do your research and see how this launch pool system works. Whatever I have figured out so far is worth that participation in such an event can be a great opportunity provided you are doing it at the right time and I don't see that there can be any loss-making situation just for participating in the launch pool. Overall I can say it's a good option to go from and I'll be trying to do this if it is possible for me in future..
Thanks for stopping by