Ad

WEB3

What is Portal Coin: The 47th Binance Launchpool Project?

by BSC News

February 21, 2024

chain

Portal Coin aims to connect diverse blockchain gaming communities and developers through its cross-chain gaming ecosystem.

Binance has introduced its 47th Launchpool project—Portal (PORTAL). This project focuses on revolutionizing the gaming landscape through a cross-chain gaming platform.

The primary objective is to empower this ecosystem, connecting diverse blockchain gaming communities and developers to create an integrated and fluid gaming experience across multiple blockchain networks.

With the Portal Foundation at the forefront, the focus is on community-centric values, open standards, interoperability, and user experience, as well as robust developer support.

Technological Backbone: Leveraging Advanced Blockchain Technologies

At the core of Portal's capabilities is the implementation of advanced blockchain technologies, notably the LayerZero protocol. This technology facilitates cross-chain interactions, reportedly addressing a significant challenge in the current blockchain landscape—interoperability.

Using Portalcoin, gamers and developers are able to utilize the unique strengths of each blockchain without compromising security or speed.

Key Components of the Portal Ecosystem

The Portal ecosystem comprises crucial components aimed at enhancing the gaming experience:

Portal Passport: A unified identity solution for gamers across the blockchain universe, simplifying access to games and communities.

Middleware Solutions: Developer-centric tools and services for managing on-chain transactions, deploying cross-chain functionality, and ensuring a streamlined user experience.

Portal Wallet: A specialized gaming-focused wallet supporting multiple cryptocurrencies, serving as a gateway to Web3 gaming.

Tokenomics and Binance Listing

The vitality of the Portal ecosystem revolves around its native token, PORTAL, designed with diverse utilities to ensure sustainability. PORTAL will be listed on Binance at 10:00 (UTC) on 02/29/2024 with pairs such as PORTAL/BTC, PORTAL/USDT, PORTAL/BNB, PORTAL/FDUSD, and PORTAL/TRY.

To kickstart the ecosystem, Binance introduced a seven-day staking opportunity for users starting on 22.02.2024 00:00 (UTC).  According to Binance's announcement, users can stake BNB and FDUSD in dedicated pools to farm PORTAL tokens, starting at 03:00 AM local time on February 22, 2024. 

Users can potentially farm up to 23,809 PORTAL tokens per hour from the BNB pool and 5,952 PORTAL tokens per hour from the FDUSD pool. Eighty percent of the rewards are allocated to the BNB pool, with the remaining twenty percent going to the FDUSD pool.

The maximum token supply is capped at 1 billion PORTAL, with 50 million tokens set for distribution through Binance Launchpool, representing 5% of the total token supply. The initial circulating supply will be 167.13 million PORTAL, constituting 16.71% of the maximum token supply.

Related News