Binance Launchpool Announces 62nd Project VANA, What’s Next?

Binance Launchpool has recently announced to addition of Vana (VANA) as its 62nd project, gaining investors’ attention. Notably, the listing or any positive announcements from the top exchanges often fuel market optimism, as it hints towards growing confidence of the exchange towards the asset.

Binance Launchpool Adds Vana As 62nd Project

Binance announced VANA as its latest addition to Launchpool, lauding the project’s compatibility as an EVM-compatible Layer 1 blockchain. According to the announcement, users can farm VANA tokens by locking Binance Coin (BNB) and First Digital USD (FDUSD) in designated pools. Farming will occur over a brief two-day period, starting December 14, 2024, at 00:00 UTC.

Notably, the farming rewards are capped at 4,800,000 VANA tokens, accounting for 4% of the token’s total supply. Besides, 85% of the rewards will be allocated to the BNB pool, while the FDUSD pool will receive the remaining 15%. Each user is restricted by hourly caps to ensure equitable distribution, with 8,500 VANA available per hour in the BNB pool and 1,500 VANA in the FDUSD pool.

Meanwhile, after the farming, the exchange will list VANA on December 16, 2024, at 10:00 UTC. Trading pairs will include VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY. This launch adds to the leading crypto exchange’s reputation for introducing promising blockchain projects to its platform.

VANA’s Market Appeal Soars

VANA’s unique focus on decentralizing user-owned data positions it as a standout project in the blockchain ecosystem. Its initial circulating supply will be 30,084,000 VANA, representing 25.07% of the maximum token supply. This calculated release strategy aims to balance demand and supply, potentially driving price stability during its early trading phase.

The market’s enthusiasm for VANA stems from Binance Launchpool’s announcement and its structured approach to launch. Research reports and tools, set to be available prior to farming, aim to educate investors and enhance transparency.

Binance’s launch of VANA not only highlights the platform’s commitment to blockchain innovation but also provides investors with new opportunities for diversification. As the trading date approaches, all eyes will be on VANA’s performance and its potential to disrupt the user-data-centric blockchain sector.

Meanwhile, the USUAL token also noted a strong rally after the same platform added it as the 61st project on its platform last month. Considering that, the market is anticipating a similar move by VANA following the listing on the top crypto exchange.

The post Binance Launchpool Announces 62nd Project VANA, What’s Next? appeared first on CoinGape.