Binance has introduced two new projects on Binance launchpool at the same time. For the rest of August, you can farm $SEI and $CYBER. Let's take a look at the details of these two projects and explore some potential farming tactics.
Farming New Tokens On Binance Launchpool
The Binance Launchpool is a platform where users can stake certain cryptocurrency tokens and earn new ones over a specific period, usually 30 days. $BNB is always a stakable asset in the Launchpool, although the other tokens may vary.
Starting today, you will be able to stake $BNB, $TUSD, and $FDUSD into separate pools to farm either $SEI or $CYBER tokens.The rewards are allocated in the same manner for both tokens. The biggest chunk of 80% of the allocated rewards goes into the $BNB pools, 15% into the $TUSD pools, and 5% into the $FDUSD pools.
What Is Sei $SEI?
Sei is a layer 1 blockchain that is optimized for the exchange of digital assets. That's why some call Sei the Nasdaq of crypto. The Sei blockchain is extremely fast, the fastest in the industry. This is important in trading. While in crypto, trades on a DEX can take quite some time, it only takes milliseconds on SEI.
The total token supply of $SEI is 10,000,000,000 and 3% of its total supply is allocated to the Binance Launchpool.
Project Website: https://www.sei.io
What Is CyberConnect $CYBER?
CyberConnect is a social network that utilizes Web3 technology. It allows developers to create social applications that give users control over their digital identity, content, connections, and interactions. Its smart contract can record the content and social connections of a user including built-in monetization tools.
$CYBER has a total token supply of 100,000,000 and 3% of it is allocated to the Binance Launchpool.
Project Website: https://cyberconnect.me
Launchpad Farming Strategies
As there are two projects on Binance Launchpool at the same time, you should have a strategy. Depending on your favorite token or depending on the highest rewards, you can allocate everything either to the $SEI or to the $CYBER Launchpool.
I am going to farm both of the new tokens via the $BNB Vault on Binance. This is a strategy that many users are not aware of. The $BNB Vault allows you to earn multiple rewards from Simple Earn and Launchpools with your $BNB. So when you use the $BNB Vault to farm the new tokens, you will also get some $BNB rewards on top of Simple Earn, currently 0,6%.
The rewards are distributed daily and compounded directly into your Earn Wallet.
My Final Conclusion
Which project on Binance Launchpool are you most interested in? Are you planning to farm both or just one? Also, have you heard about the $BNB Vault before? It would be great if you could share your thoughts in the comments.
By the way, if you haven't registered on Binance, you can sign up using my referral link and the code E3PGAJCE. By doing so, you'll save on trading fees every time you make a trade on Binance.
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You may also like: Binance Is Starting To Fire Warning Shots At Non-Developing Projects
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