New month has started, and second half of the year is just about to make more opportunities for us in this lovely market of cryptocurrencies. But Binance, once again, is offering us another opportunities to earn a new DeFi token by staking one of the specific assets - BNB, DOT and BUSD.
Binance Exchange has announced a new project to be the 20th project in the Launchpool of Binance platform - the Automata (ATA) token of Automata Network.
What is Automata Network?
According to their Medium article;
Automata Network is a decentralized service protocol that provides middleware-like traceless privacy services for dApps on Ethereum and Polkadot to achieve privacy, high assurance and frictionless computation.
Learn more about it in their Medium page: https://medium.com/atanetwork
Automata (ATA) token has a maximum supply of just 10 billion tokens and 4% of it (approximately 4o million tokens) will be used as a reward to all stakers in the Launchpool.
What's good about this one?
Usually, the Binance Launchpool is only available for KYC verified users of Binance, but this time is different. Binance allows level 1 or non-verified users to participate in the ATA Launchpool with no limit on how much BNB, DOT or BUSD they will stake.
Asset's Pool:
There will 28,000,000 ATA tokens for BNB stakers.
4,000,000 ATA tokens for BUSD stakers.
8,000,000 ATA tokens for DOT stakers.
Farming ATA Tokens.
The staking of assets and farming had already started on June 1st and 2nd, respectively.
From June 2 to June 6, the daily rewards will be;
2,800,000 for BNB Pool.
400,000 for BUSD Pool.
800,000 for DOT Pool.
From June 7 to July 1, the daily rewards will be;
560,000 for BNB Pool.
80,000 for BUSD Pool.
160,000 for DOT Pool.
How To Participate in the Launchpool?
Participating in the Binance ATA Launchpool only requires you one thing - to have the assets available or supported in the Launchpool.
Usually, or should I say famously, BNB is the most famous and usual coin used in the Launchpool. So without getting any further, let's use BNB as an example.
If you don't have any BNBs in your Binance account, you can buy at least 0.1 BNB in the market which is around $42 at the time of writing. You need to have at least 0.1 BNB for a reason that it is the minimum amount to stake in the Launchpool.
Assuming that you or you already have a BNB, all you have to do is go to the Binance Launchpad, and inside you will find the available Launchpool for you to participate.
Upon clicking it, the very first you'll see is the available and currently Launchpool in the platform, which is ATA tokens.
You just need to click the "Stake Now" button and the next page will show for you to enter the amount of BNB you want to stake to farm ATA tokens, like this:
All you need is to confirm it and after that your BNB will be farming ATA tokens which you can claim every hour. Every time you claim the token, it will be automatically sent to your spot account.
Or you can just let it stay there for a while and see how much ATA tokens you have already.
Reminder: The Automata ATA Launchpool will have a 30 day locked staking. Meaning, you can only have access or unstake it after the 30 day period or when the Launchpool for ATA is over.
Final Say.
Even though Binance is a reliable Crypto exchange and have a good reputation, and no signs of any risks of losing your staked assets in the Launchpad, I will still recommended to everyone to still do their own research and to be responsible of managing their risks.
Since cryptocurrencies are volatile, if you have bought BNB for this Launchpool, the price of BNB can go up or down during the 30 day period and you should not blame anyone for your actions.
END.
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