I have been participating in Binance launchpool for quite some time and its a great way to earn some free tokens. Through the launchpool new projects are introduced and some of them do well in the market I'm talking about the price of tokens in the market. There is an option for anyone to participate in the launch pool by staking the required tokens which are BNB and FDUSD. There is no risk on the investment because these tokens are used for farming and once that is over then we get these coins back in the same quantity hence there is no risk of losing them however it is always recommended to participate if you are holding the coins in exchange. When you participate then you lose the self custody because you will have to keep the coins in the exchange wallet and if you are OK with that then this option is for you.
The new project is called Ethena and its a synthetic dollar protocol. The farming period is 3 days and farming is ongoing. This duration is less I believe because ideally, this should have been for a week or something so that we get more tokens but that's how it is and it is not in our control hence it is better to participate and form whatever tokens you can depending upon your coin holding on exchange wallet.
My participation in Farming
I have participated in farming through the BNB pool and expect many tokens to earn. I have been participating for a long and some of the projects have given good profits hence I expect that this project is also going to be profitable like before. I don't know about the token price but my participation is ongoing and the exchange is going to list the token on 2nd April. The farming will be ending in approximately less than two days because more than one day is over already but its fine because by the time it is ongoing we will be able to accumulate more tokens from the new project. I have no idea about the expected price for the new token but hopefully, this should be good I do not hold such tokens because I'm not aware of the new projects and it is better to book the profit by selling all tokens that I follow.
These days Binance exchange has been listing many new projects quite frequently which I think is an opportunity for us to be part of and earn some free rewards. This is better than any airdrop because we don't need to perform some boring steps and also do not need to share our information or something else but I know that in this case also we need to deposit our tokens which I do not think is a problem. These tokens are not logged hence if you need the tokens before the farming ends then we can do this because this option is available and in that case, your token reward will be reduced.
Ethena is a synthetic dollar protocol built on Ethereum that will provide a crypto-native solution for money not reliant on traditional banking system infrastructure, alongside a globally accessible dollar-denominated savings instrument - the 'Internet Bond'.
If you are interested to know more about this project then here I share the link for their white paper which you can go through and understand more about the project. This project looks promising but again in Crypto, it is hard to judge something in the early days and it can go fantastic but there is also the possibility that it might not do as well as expected.
Not since I have already participated in farming and accumulated some tokens with the hope that the price for this token will be good in the market and I will be able to generate some nice free reward. It's hard to predict what price we are going to see for the tokens in the market but I expect that they should be good and for that reason, I am trying to harm as many as tokens possible through my BNB stake.
Thank you
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