What is Binance Launchpad?
Let's find out Binance Launchpad meaning, definition in crypto, what is Binance Launchpad, and all other detailed facts.
Binance Launchpad is a crowdfunding platform in the Binance ecosystem. It aims to provide crypto startups with support for their funding, development, and marketing. Binance Launchpad offers the tokens created by startups to the user base.
Binance Exchange, the company hosting Launchpad services, is one of the biggest cryptocurrency exchange platforms in the world. It offers crypto-to-crypto exchange services in over 500 cryptocurrencies and tokens, including some of the best-known names like Bitcoin (BTC), Ethereum (ETH), and the platform’s native token, Binance Coin (BNB).
Binance Launchpad was the first crowdfunding platform to establish the Initial Exchange Offering (IEO) mechanism with the BitTorrent Coin in 2019. IEO is a popular method for crypto startups to raise funds for their projects by selling utility tokens via crypto exchange platforms.
There are numerous benefits to crowdfunding a crypto startup on Binance Launchpad:
- Exposure to the Binance user base of nearly 30 million. As one of the largest crypto platforms in the world, Binance creates many opportunities for startups to be discovered;
- High liquidity in multiple trading pairs is commonly achieved by projects crowdfunded on Binance Launchpad;
- The tokens are issued to the Binance users, helping build a community in the early stages of crypto development;
- Binance provides support to blockchain-based startups and promotes their growth in the ecosystem.
Binance Launchpad is one of the world’s leading crowdfunding platforms in terms of bringing startups and investors together. The platform has overseen some successful projects, like Axie Infinity, The Sandbox, and KAVA.
The best-performing startups are awarded yearly for their achievements. In 2021, the decentralized finance (DeFi) protocol Alpha Finance Lab was selected as the recipient. The winner is chosen based on three criteria: token price performance ROI, market influence and gained traction, and Binance ecosystem integration.
Since 2019 when Binance Launchpad started its crowdfunding mission, it has raised more than $120 million in support of over 60 projects, at the time of writing.
Binance Launchpad’s core mission is to help crypto startups grow into full-fledged projects while promoting their tokens efficiently within the Binance ecosystem. The platform offers a number of services for startups, like pre-launch consultations and marketing support.
Binance Launchpad takes over the responsibility of campaign marketing, growing the brand visibility, and building the initial user base. The startup project teams can concentrate all their offers on product development.