- Binance introduces Toncoin to Launchpool, offering users attractive staking rewards through BNB and FDUSD pools.
- The new Super Earn program provides a higher APR for locking TON tokens, attracting more participants to the TON ecosystem.
Binance has announced the 56th project in its Launchpool initiative: Toncoin (TON). Binance users will be able to stake BNB or FDUSD and win TON token rewards between August 15 and September 3, 2024.
Introducing Toncoin $TON on #Binance Launchpool and Super Earn!
Lock your tokens and earn Special APR rewards.
Find out more
https://t.co/Y8vHwg2a92 pic.twitter.com/3m1khH1APB
— Binance (@binance) August 13, 2024
Significant TON Rewards Allocated: 85% for BNB Stakers
The entire reward pool is significant, with 7.65 million TON tokens set aside for this farming period. Notably, 85% of these rewards are reserved for BNB stakers, with the remaining 15% going to FDUSD stakers.
Toncoin, The Open Network’s native cryptocurrency, has grown in popularity rapidly, thanks in part to its tight integration with Telegram, a messaging app with nearly 900 million active users as of 2024.
Following regulatory challenges, particularly from the SEC in the United States, this blockchain project—originally developed by Telegram—has transformed into a community-led initiative.
In addition to the Launchpool, Binance has created a new tool known as Super Earn, which allows users to lock their TON tokens in Simple Earn Locked Products.
This program offers a higher-than-average annual percentage rate (APR), although the specific rate has yet to be revealed. The Super Earn initiative aims to encourage more users to stake by offering large rewards financed directly by the respective coin projects.
As of writing, TON is trading around $7.05, representing a remarkable 10.72% rise over the last 24 hours. The trade volume has increased by more than 38%, reaching $557.73 million.
Toncoin, on the other hand, recorded an open interest of $287 million in early July, indicating high investor interest and a huge influx of funds.
Despite the impressive trade volume and liquidity growth, on-chain data suggested a slowing of network development and trading velocity, as ETHNews previously reported.
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