Binance Launches Toncoin on Its Launchpool and Super Earn Initiative

Cryptocurrency exchange Binance unveiled Toncoin The Open Network (TON) is now being featured as the next addition to Binance’s Launchpool. This opportunity allows users to stake BNB and FDUSD for earning TON over a period of 20 days, starting 00:00 UTC on August 15th.

There are dedicated staking pools for BNB and FDUSD, offering a combined 6,502,500 TON and 1,147,500 TON in rewards, respectively. Daily distributions will total 382,500 TON, with the BNB pool contributing 325,125 TON and the FDUSD pool providing the remaining 57,375 TON.

In addition, there will be options for users to lock their TON in Binance's Simple Earn Locked Products, enabling them to earn a Special APR through the Super Earn program, offering a whopping 1,350,000 TON over 20 days.

What Is Toncoin (TON)?

The Open Network (TON) operates as a Layer 1 Proof-of-Stake (PoS) blockchain and is comprised of several distinct components, including a Blockchain, Virtual Machine, Payment Mechanism, DNS, Storage Options, and Sites. TON employs a Byzantine Fault Tolerance protocol called 'Catchain Consensus' to maintain network integrity, create blocks, and authenticate transactions, which is specifically designed to suit the unique architecture of TON's shard-based system.

Toncoin This token serves as a utility asset essential for powering decentralized applications (dApps) within the ecosystem. It's utilized for a variety of functions, including covering transaction fees, facilitating cross-chain transactions, and providing staking incentives that bolster the security of the blockchain. Moreover, it finances decentralized data storage, DNS services, and other charges incurred on TON-based platforms. TON ecosystem At present, the overall supply of TON stands at 5,110,422,426 tokens. Out of this, 7,650,000 tokens are earmarked for rewards through Launchpool, with notable limits set per individual participant: 1,354.68 tokens daily in the BNB pool and 239.06 tokens for those staking FDUSD.

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