Binance LaunchPool adds ATA, how to stake and earn with it
After a lot of time with not much activity, Binance Launchpool has launched a new project, Automata (ATA).
ATA is the native token of Automata, a decentralised service protocol that provides privacy midleware layers for dApps in different blockchains. The total supply of ATA will be 1,000,000,000 and upon launch its listing the initial circulating supply with be 17.3%.
The use cases of ATA token are the following:
Governance (for token holders)
Mining rewards
Protocol fees
Geode allocation
Binance launchpool was introduced in order to filter new projects and allow them to distribute their tokens to users and attract a wider community. Through the diligence and support of Binance, these new projects take-off and users are protected from the ICO scams and rug-pulls of 2017/2018, a dark era for investing in new crypto projects. This is a win-win scenario where projects get the exposure of the massive and global Binance community and distribute part of their tokens to them, while users are protected from scam and dubious projects.
To enter the launchpool and claim your ATA tokens, you need to hold and stake either BNB (Binance native token), DOT (Polkadot blockchain token), or BUSD (Binance's stablecoin). Another benefit of the Launchpools is that when staking BNB into them, you do not lose the benefits of holding BNB such as airdrops and being able to participate in Launchpads.
How it works
First open the Binance App in your phone or laptop. Then click on the Launchpad icon in the menu.
This will take you to the Launchpool menu. You will see here that ATA is the only one in progress. The total number of ATA rewarded by the launchpool farming is 40,000,000 or 4% of total supply. This will be allocated gradually in the following 30 days. (29 and some hours left now as it started at 01/06 00:00 UTC).
If you click on the Stake BNB button it will take you to the interface for staking BNB. On the yellow stake button you can chose how much BNB you want to stake, the minimum amount being 0.1 BNB. On the top it shows the total amount of ATA in this pool, which is distributed to users according to the percentage of BNB they have staked. For the ATA, 70% of total rewards (28,000,000 ATA) will be distributed to the ATA/BNB pool.
Then it's the Polkadot/ATA pool. Here you can stake your DOT tokens and farm ATA. Follow the same procedure as with BNB and the minimum amount you need to stake 0.1 DOT. The reward of the DOT pool is 20% of the total ATA reward (8,000,000). I have already staked the DOT tokens I had been holding and staking in the various locked staking offers of Binance.
Last it's the BUSD Pool. BUSD, is Binance USD, Binance's stablecoin. The procedure is the same as with the other two tokens, and it will reward the 10% of total ATA rewards. I haven't staked anything here yet as I have my stablecoins in other platforms staked with higher yield right now.
ATA will be listed in Binance's Innovation Zone on June 7th, and the offered trading pairs will include ATA/BNB, ATA/BTC, ATA/BUSD, ATA/USDT initially.
If you don't have an account yet you can register one here.
Farm your Automata tokens now and see your passive earn portfolio grow!