Memecoin, a product of Binance’s partnership with 9GAG’s Memeland, is available on its Launchpool platform and gives users a 30-day staking window across several pools.
Memecoin (MEME), the newest addition to the popular cryptocurrency exchange Binance’s Launchpool—a platform only available to Binance users—allows them to stake their existing tokens and earn new ones.
With the introduction of Memecoin, the exchange and 9GAG’s Web3 venture studio, Memeland, have entered into a significant partnership. Users of Binance will be able to farm MEME tokens through FDUSD, TrueUSD (TUSD), and Binance Coin (BNB) staking.
The farming program will begin on October 28 and last thirty days, ending on November 26. To make this procedure easier, three distinct staking pools have been created for TUSD, FDUSD, and BNB.
It is necessary to comply with Memecoin’s Know Your Customer (KYC) requirements to participate in Launchpool. Users’ ability to stake MEME tokens in each pool will be subject to an hourly hard cap set by the platform.
The hourly incentives that scorers can expect to receive can be redeemed at any moment immediately into their spot accounts. For users’ convenience, each staking pool’s total pool balance and Annual Percentage Yield (APY) will be updated in real time.
Tokens may only be staked in a single pool at a time, according to Binance, although users are free to divide up their holdings among several pools. When the farming period ends, any unclaimed awards and staked tokens will automatically transfer to the users’ spot accounts.
The platform will immediately direct BNB holders who have committed their holdings in Binance’s BNB Vault into the MEME Launchpool, streamlining the procedure and guaranteeing daily MEME rewards.
