Binance Will Revive Launchpad Platform With BitTorrent And Fetch.AI Crowdsales Launch
Cryptocurrency exchange Binance has decided to revive its platform for crowdfunding campaigns called Binance Launchpad.
“Launchpad helps cutting-edge blockchain startups raise the funding they need to develop their products and gives them access to the Binance ecosystem,” the exchange writes..
Investors who have passed identity verification and meet other criteria that can be determined on a case-by-case basis will be able to participate in campaigns on the Launchpad platform. In addition, Binance Launchpad will not be available for residents of China, USA, Belarus, Ukraine and some other countries..
BitTorrent and Fetch.AI were chosen as the first two projects to launch on the platform after its restoration. The exchange promises to provide other information regarding campaigns in the coming weeks..
Some details of the future BitTorrent cryptocurrency are given in their publication CoinDesk.
BitTorrent Token (BTT) will be based on the Tron protocol developed by the eponymous startup, which acquired the popular Torrent client in June last year.
It is expected that BTT tokens will be used to attract users who already have them to transfer files, which will speed up their downloads. Thus, users who downloaded the file will be more motivated to store it further, which in turn should have a positive effect on the functioning of the entire Torrent system..
In addition to Binance Launchpad, Tron CEO Justin Sun plans to distribute BTT tokens through airdrops, which he will announce on his Twitter..
Initially, the token will be available in the µTorrent Classic client for Windows, which has the largest number of users of any BitTorrent product today..
Binance Launchpad intends to exclusively provide its users with access to at least one token per month throughout 2019.
Recall that the launch of Binance Launchpad took place at the end of 2017, but so far only two ICOs have been held on the platform: the Bread crypto wallet and the protocol for distributing gift content on the Gifto blockchain.
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