Binance has introduced its 46th project on its LaunchPool, Pixels (PIXEL), a social web3 game developed on the Ronin Network. Pixels is a game that allows users to create their own games that natively integrate with the platform. The native token of the game is PIXEL, which is built on the Ronin Network and is used as an in-game currency to buy upgrades, items, and more.
Binance Launchpool is a platform where users stake crypto assets to earn new tokens from newly launched projects, providing an opportunity for early project participation and rewards. It involves locking up assets for a specified period and earning new tokens in return. Unlike yield farming in decentralized finance (DeFi), Binance Launchpool focuses on token launches.
Introduced in September 2020, it’s a free platform for staking and earning new tokens, appealing to investors seeking passive income. Users sign up, complete KYC verification, stake assets in available projects, and can redeem assets and claim rewards at any time.
Ronin is a layer 2 blockchain tailored for game developers focusing on player-owned economies. Notably associated with the success of Axie Infinity, it offers quick transactions and minimal fees and has gained prominence in the Web3 gaming space.
Achieving 250,000 daily active addresses, $5 billion TVL, and 15% of NFT transactions in its first nine months. With its native token, RON, Ronin provides scalability, cost-effectiveness, and global access for game studios, making it an appealing choice for developers in the blockchain gaming community.
Pixels will have a maximum token supply of 5,000,000,000 PIXEL, and Launchpool rewards at 350,000,000 PIXEL (7% of the maximum token supply), while its initial circulating supply will be 771,041,667 PIXEL (15.42% of the maximum token supply). Users who want to stake must undergo and can stake using the BNB pool or FDUSD pool.
The farming period will be from 2024-02-09 00:00 (UTC) to 2024-02-18 23:59 (UTC). Farming distribution will start on 2024-02-09 and end on 2024-02-18. Binance added that the token will be listed for trading on 2024-02-19 at 10:00 (UTC) with these trading pairs: PIXEL/BTC, PIXEL/USDT, PIXEL/BNB, PIXEL/FDUSD, and PIXEL/TRY.