The popular crypto exchange Binance has recently announced the opening of a new service on its website, Binance Launchpad, a vector for new tokens to raise funds.
According to a press release detailing some of the features of the new site, Launchpad “will allow at least one launch of a new token on a monthly basis during 2019,” starting with BitTorrent’s BTT and Fetch.AI.
According to Binance, this new platform “helps blockchain projects raise funds and increase their reach across the crypto ecosystem,” offering tokens from various projects to a user base that numbers in the millions. Of particular note is the fact that Launchpad is not only a means to give new tokens exposure but “it’s also a full advisory service for projects, which will benefit from [Binance’s] insights and experience.”
Binance has listed a fairly stringent set of standards that tokens must meet in order to take advantage of Launchpad’s services. In addition to “relatively mature-stage project development,” projects must also display “readiness for large-scale adoption, a strong and committed team” as well as the “potential to benefit the growth and development of the wider crypto ecosystem.”
BitTorrent’s BTT token, the first displayed on Launchpad, seems to incorporate many of these features. Already under the advisory of a fairly prominent digital company, BTT can also boast that it is “based on the [TRON] protocol, and it can be changed between users, and the benefits it will bring [are] faster network and downloads.”
Fetch.AI has fewer specific features listed in the press release, but is described as an artificial, intelligence-driven decentralized blockchain network.