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The world’s largest cryptocurrency exchange by trading volume, Binance, has introduced its latest altcoin project called Portal (PORTAL), an interchain gaming platform aimed at bringing more players into the Web3 world, on Binance Launchpool.
Details of the 47th Binance Launchpool: Portal (PORTAL)
Binance is preparing to launch its 47th Launchpool event with the Portal webpage, which will be unveiled in five hours. According to the announcement from the crypto exchange, users will be able to stake their BNB and FDUSD in separate pools to farm PORTAL tokens for a seven-day period starting at 03:00 AM local time on February 22, 2024.
Launchpool will allow staking in both BNB and FDUSD pools with a fixed hourly limit per user. Users will be able to farm up to 23,809 PORTAL tokens per hour from the BNB pool and 5,952 PORTAL tokens per hour from the FDUSD pool. Eighty percent of the rewards will be allocated to the BNB pool and twenty percent to the FDUSD pool.
The maximum supply of the token is capped at 1 billion PORTAL, with 50 million PORTAL tokens to be distributed through Binance Launchpool, representing 5% of the maximum token supply. The initial circulating supply of the token will be 167.13 million PORTAL, which means that 16.71% of the maximum token supply will be released initially.
The farming period for PORTAL will start at 03:00 AM local time on February 22, 2024, and end at 02:59 AM local time on February 29, 2024.
PORTAL to be Listed on Binance After Farming Period
Following the completion of the farming period, Binance will list PORTAL on February 29, 2024, at 01:00 PM local time, making it available for trading in the PORTAL/BTC, PORTAL/USDT, PORTAL/BNB, PORTAL/FDUSD, and PORTAL/TRY trading pairs.
A look at Portal’s smart contract details reveals that the token operates on the Ethereum Blockchain, is compatible with other Ethereum-based projects, and offers interoperability.
