- Binance has announced the 56th project on its Launchpool.
- Users will farm the project’s native token over twenty days.
- The token was already listed on Binance for trading.
The world’s largest crypto exchange by trade volume, Binance, has announced Toncoin (TON) as its next Launchpool project after IO.NET (IO).
Toncoin is the native token of The Open Network (TON), a decentralized and open L1 blockchain initially built by developers behind the messaging app Telegram. The network has grown substantially over a short period, thanks to its massive integration with Telegram, which had nearly 900 million active users as of 2024.
Toncoin (TON) on Binance Launchpool
On August 13, Binance unveiled TON as the 56th project on Binance Launchpool and invited users to farm the token by staking BNB and FDUSD into separate pools. The farming period will commence on August 15 at 00:00 (UTC) and run for twenty days until September 3 at 23:59 (UTC).
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The Launchpool token rewards feature 7,650,000 tons, representing about 0.5% of the token’s total supply of 5,110,422,426 tons. 85% of the tokens earmarked for rewards in the Launchpool will be available in the BNB staking pool, while those who stake FDUSD will farm the remaining 15%.
“Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B,” Binance said.
Per the statement, rewards will be calculated each hour, enabling users to claim TON directly to their spot account at “any time.” Unclaimed rewards will be automatically moved to individual user spot accounts at the end of the farming period.
Unlike other tokens previously featured on Binance Launchpool, TON joins the program after being officially listed for trading on the platform. The exchange listed TON for trading on August 8 under the TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY pairs.
Learn how to stay safe from the rising phishing attacks on the TON ecosystem:
TON Ecosystem Phishing Attacks on the Rise: How to Stay Safe
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