In the previous part of this series, we talked about Binance Launchpad and how to use it. We also introduced you to Flexible Terms and how you can participate in Flexible Savings. In this part, we will talk about Launchpool and BNB Vault.
Launchpool is a new product offered by Binance that allows the users to stake their BNB, BUSD, and other tokens and farm new tokens as a reward. Users receive rewards daily.
There is no such upper limit of token staking. However, the users are required to stake a minimum of 0.1 of each token. They can also withdraw or stake some more amounts at any time.
- You can earn the new token for a total of 30 days.
- The first seven of those days are before the token is listed on Binance.com, at which point you can immediately trade any tokens you have earned.
- Tokens earned in the first seven days can’t be traded until the project has been listed on Binance.com.
- From the 8th day onwards, once the trading is live, you can trade any tokens that you will earn.
- You can see the advertisements for the upcoming projects listing on the launchpool from the homepage.
- Click on it to get more details about the projects and token distribution.
You can see the list of projects currently available where you can farm new tokens by staking your BNB or any other tokens.
We have selected the project called REEF Finance where you can stake your BNB and farm the new token REEF.
Click on it to get more stats about the project and token farming, including the project reward and the approximate annual percentage yield (APY).
The available balance shows the user’s token balance. You can also buy crypto by using the Buy BNB link.
Click on Stake and enter the amount of token you want to stake.
The minimum amount to be staked should be .1 BNB.
At any time, users can unstake the locked token by clicking on the Redeem link, and the tokens will be returned to your spot account from the launchpool account.
Users can see the rewards earned under the My Rewards pane. The rewards are calculated and updated on an hourly basis. Users can claim all the unclaimed rewards, and once claimed, the earned tokens will move to the spot wallet.
Use the tab Staking History and Claim history to see the details of your token staking and rewards claimed transactions.
Vault is a BNB yield aggregator. That means if you are depositing BNB into the vault, then you will be participating in Launchpool, Savings, Defi staking, and other projects and gaining rewards at the same time.
BNB Vault is equivalent to participating in multiple projects at the same time. The interest and the calculation of income depend upon the different product rules. After transferring Savings, users will receive Savings interest, and the income will be calculated on the second day.
- Easy to stake.
- Just one click to gain the benefit of earning multiple incomes.
- Flexibility to redeem your assets whenever you want.
- The income is calculated daily and distributed to the user’s spot account.
- The BNB Vault income will begin to accrue interest at 0:00 AM (UTC) on the second day of staking, and the income will be paid on the third day.
- The income from DeFi Staking or other products will be distributed according to the actual income.
- The staked BNB assets in the BNB Vault will be deposited in Flexible Savings and are still eligible for BNB holding benefits from the Daily BNB Balance Calculation, such as airdrops, Launchpad holding position, VIP rights, etc.
You can check the interest earned from Binance Vault from the Check Now button.
Click on that and it will show your staked BNB details.
At any time, you can unstake your staked BNB by clicking on the Unstake button.
Binance offers two methods to unstake your tokens:
- Fast Redemption
- Standard Redemption
With fast redemption, a maximum of 100,000,000 BNB can be redeemed daily, and the redeemed quantity is returned on the same day. With standard redemption, the redeemed quantity will be returned tomorrow. Users will be entitled to earn today’s accrued interest.
You can check your accrued rewards from the Rewards pane.
You can further check the reward distribution of different tokens in BNB Vault from the Distribution Record link.
Now under Earn, you can see the different schemes which you can choose. Each scheme has different conditions and benefits.
In the next part, we will discuss the remaining offerings under Earn, the Fixed Terms, and the High-Risk Products.