Project Galaxy (GAL) on Binance Launchpool
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Binance is excited to announce the 30th project on Binance Launchpool - Project Galaxy (GAL), a Web3 credential data network.
Users will be able to stake their BNB, BUSD and CAKE into separate pools to farm GAL tokens over 30 days, with farming starting from 2022-04-29 00:00 AM (UTC).
Binance will then list GAL into the innovation zone at 2022-05-05 12:00 PM (UTC) and open trading with GAL/BTC, GAL/BNB, GAL/BUSD and GAL/USDT trading pairs.
GAL Launchpool Details:
Token Name: Project Galaxy (GAL)
Total Token Supply: 200,000,000 GAL
Launchpool Token Rewards: 3,000,000 GAL (1.5% of total token supply)
Initial Circulating Supply: 35,161,333 GAL (17.58% of total token supply)
Staking Terms: No upper limit. KYC required
Stake BNB: 2,100,000 GAL in rewards (70%)
Stake CAKE: 600,000 GAL in rewards (20%)
Stake BUSD: 300,000 GAL in rewards (10%)
Farming Period: 2022-04-29 00:00 AM (UTC) to 2022-05-28 11:59 PM (UTC).
GAL Farming Distribution
Dates (00:00:00 - 23:59:59 UTC each day)Total Daily Rewards (GAL)BNB Pool Daily Rewards (GAL)CAKE Pool Daily Rewards (GAL)BUSD Pool Daily Rewards (GAL)2022-04-29 - 2022-05-05214,285.71150,000.0042,857.1421,428.572022-05-06 - 2022-05-2865,217.3945,652.1713,043.486,521.74
Read about Project Galaxy (GAL) in our research report here.
Snapshots of user balances and total pool balances will be taken each hour to calculate user rewards, which will also be updated each hour.
Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.
Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.
Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.
Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.
Tokens staked in each pool and also any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.
BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Please note that Binance Labs has an investment interest in Project Galaxy.