One of the main reasons why I am holding BNB is that I can farm new tokens on the Binance Launchpool and Launchpad. Starting today you can farm $HFT from the Binance Launchpool, finally, after a long time of waiting.
Let's take a look at how the Binance Launchpool works and what the new project Hasflow is all about. Finally, I also like to discuss with you if this may be one indicator of the current market sentiment.
What Is Binance Launchpool?
Binance offers different possibilities to earn passive income. One of these possibilities is the Binance Launchpool. The Binance Launchpool allows you to farm newly issued tokens by locking different tokens. BNB is always one of these tokens that you can lock in order to farm the new tokens.
Right now you can start farming the token $HFT on the Binance Launchpool. Hashflow is already the 31st project that is farmable on the Binance Launchpool.
For the next 30 days, you can lock $BNB and $BUSD into separate pools to start farming $HFT tokens.
In the past, you were also able to earn from the Launchpool with tokens that are locked in the BNB Vault. This time it is different. You need to stake your $BNB tokens directly into the Binance Launchpool. You won't receive any $HFT rewards with $BNB locked in the BNB Vault!
What Is Hashflow?
Hashflow is a decentralized exchange that aims to connect traders with professional market makers. The cool thing about Hashflow is that it works cross-chain. You can swap any assets on any blockchain within seconds. It is currently available on six different blockchains: Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, and Optimism.
$HFT is not tradable yet but Binance will add $HFT into the innovation zone on the 7th of November with $HFT - $BTC, $HFT - $BUSD, and $HFT - $USDT trading pairs.
New Projects, New Hope?
During the last few months, the Binance Lunchpool had been empty. also on Binance Launchpad was no new project launching over the last few months. I believe that this is a phenomenon of the bear market. Launching a new project during a bear market is extremely risky. Most likely, you can watch the newly issued token go down to earth right after launch.
That's why most cryptocurrency projects postpone their planned token launches. Of course, it is beneficial to launch a new token during a bear market. Most likely, the newly issued token will also go u during the bear market. Makes sense, or?
Considering these circumstances, the Binance Launchpool can be one indicator of the current market sentiment. Indeed, it feels good not only to see some green in the charts but also to see a new token added to the Binance Launchpool after such a long time.
My Final Words
In the past, farming new tokens on the Binance Launchpool has always been worth it. It is actually one of my favorite ways to generate passive income and it feels good to have this possibility again after a long period of nothing.
If you don't have a Binance account yet to start forming from the Binance Launchpool, please consider using my invitation link with the invitation code E3PGAJCE for signing up. It is a classical win-win situation because this will save you trading fees each time you perform a trade on Binance while at the same time supporting me without any additional cost.
Finally, I also like to remind you that my intention in this post is to raise your awareness of the new Binance Launchpool earning opportunity. My intention is not to replace your own research. I may look smart in my profile pic but I am not your financial sensei.
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