The Wealth Code Behind Binance Launchpool and a Detailed Explanation of the Latest Fusionist (ACE) Participation
Author: Biteye Core Contributor Lucky
Editor: Biteye Core Contributor Crush
On December 11th, Binance Launchpool announced the launch of the 40th new coin mining project, Fusionist, attracting immediate attention from the market. Within just two days, the funds invested in Launchpool exceeded $4 billion.
What sparked such enthusiasm among users? What is the expected price of the project after its launch? How have the wealth effects of previous Launchpool projects been?
This article aims to analyze the wealth code behind Binance Launchpool and introduce the new coin mining project of this period.
01 Introduction to Launchpool
Binance Launchpool is a service provided by Binance Exchange, aimed at helping projects with initial token distribution, while allowing users to earn new project tokens by staking cryptocurrencies. This section is also known as new coin mining.
The service was launched by Binance in September 2020, at a time when Yield Farming in DeFi was very popular. Binance Launchpool combines the convenience of DeFi's Yield Farming with Binance CEX, providing users with the opportunity to earn new token rewards by staking encrypted assets.
Currently, the staking assets used in Launchpool to mine new tokens are BNB and mainstream stablecoins, making these two assets perennial favorites.
Why is that? Let's take a look at the historical performance yield of Launchpool below👇🏻
02 Historical Performance of Launchpool
The following two tables are:
1) Recent mining yield of Launchpool tokens
2) Performance of coins listed on Binance in the past six months
From the statistics of the two tables above, we can see that:
In terms of Launchpool's mining APY, the daily performance of the listed prices ensures a yield of around 15%-20% in both bearish and bullish market environments, with the highest SUI reaching over 400%. Meanwhile, most stablecoin mining in DeFi products, which are safe, yield around 5%-7% (using RWA), less than half of Launchpool's annualized yield. Therefore, participating in Launchpool can be considered a relatively safe and high-yield mining method, regardless of whether the market is booming or in a downturn.
Among the coins listed on Binance in the past six months, ORDI has been the most outstanding performer. After its listing on Binance, ORDI steadily rose from a closing price of $13 on the first day to $27 in just over a week, with a net increase of 107%. It then experienced a pullback, dropping to $18 at its lowest, before soaring to $61.5, reaching as high as $69.8, more than quintupling in value. It can be said that ORDI is one of the dark horses of this round, and its appearance and ample liquidity and convenient trading methods on Binance are closely related.
In addition to ORDI, recent tokens issued by Launchpool, such as the token $MEME of the Metaverse project Memeland and Neutron from the Cosmos ecosystem, rebounded by 3 times and nearly 5 times, respectively, after a brief decline, showing very good performance.
From the coins listed on Binance, we can see that there are many high-quality projects, which is also one of the important reasons for the subsequent price increases. Most of the high-quality projects are issued through Launchpool, such as Pendle, the leader in the derivatives track of LSD, and CyberConnect, the leader in the social track, as well as the emerging project Memeland in the Metaverse, all of which have very good fundamentals and a strong user base.
It can be said that the projects launched on Binance Launchpool to some extent have selected coins with good fundamentals, and they also have coins with potential for future development. If you conduct a certain amount of research on these coins and then get involved, the returns will not be too bad.
- From the overall increase ratio above, in the past six months, the coins newly listed on Binance Launchpool have seen an increase ratio of at least 200%.
It is important to note that if you mine stablecoins, the tokens obtained are essentially "free." If held for a long time, you can steadily gain from this increase in value.
03 Introduction to Participation in Launchpool
- Currently, the staking assets in Launchpool are BNB and FUSD. BNB is well known to everyone, a perennial favorite, and its price tends to rise before each Launchpool/Launchpad due to high demand. If you are concerned about price fluctuations, you can hold BNB and hedge, although there will be a certain amount of interest rate erosion.
FUSD, on the other hand, is a stablecoin backed by high-quality reserves (cash and cash equivalents). Players who do not want to stake with BNB usually choose to exchange this currency for staking, with minimal loss.
(FUSD's parent company, First Digital Trust, is a qualified custodian and trust company headquartered in Hong Kong. This stablecoin is regulated in Asia, and First Digital Trust officially announced the launch of FDUSD, a stablecoin pegged to the US dollar, on June 1st of this year.
On the same day, Binance's former CEO, Zhao Changpeng, tweeted about First Digital and FDUSD. A little over a month later, Binance officially listed this stablecoin. Considering Binance's support for FDUSD and the on-chain minting situation, this may be a centralized stablecoin alternative that Binance has chosen to support after BUSD, and Binance may provide more support in the future.)
Deposit the specified tokens into the Launchpool section to receive new token rewards. The tokens obtained by users from Binance Launchpool are calculated on an hourly basis and can be claimed at any time. The quantity of tokens obtained is directly proportional to the proportion of the user's contributed tokens to the total contributed tokens.
During the staking period, players can redeem their assets at any time. Players concerned about exchange rate fluctuations can redeem in advance. For those who do not manually redeem, all tokens invested will be automatically transferred back to their spot wallet after the mining period ends.
Overall, Binance Launchpool provides users with a convenient way to earn new token rewards through simple staking operations, allowing them to fully participate in cryptocurrency mining while preserving the value of their assets.
04 Introduction to the Latest New Coin Mining Project $ACE
On December 11th, Binance Launchpool announced the launch of the 40th new coin mining project: Fusionist ($ACE).
The total mining volume is 10.29 million tokens, with a distribution ratio of 4:1 for BNB and Fdusd. Mining will start on December 13th and last for 5 days, ending on December 18th.
Fusionist is a game universe created by the Unity engine, featuring multiple collectible NFTs. Its team comes from well-known Web2 gaming companies such as Tencent and IDFAME.
The game ecosystem mainly consists of 3 games:
- Colonization (construction simulation)
- Conquest (turn-based strategy)
- Alliance (SLG)
The game is set in the year 2800, where human overdevelopment has led to environmental degradation on Earth, making it uninhabitable.
With mature space travel technology, wars for resources have erupted. Players take on the role of commanders of mech forces, managing their own planets, building industrial production lines, collecting rare resources, upgrading technology, scanning blueprints, and crafting mechs.
Ultimately, through PVP and PVE, players establish interstellar fleets for intergalactic warfare to conquer the galaxy.
Fusionist has been in development for about a year and is currently in the beta testing phase.
In addition to the Fusionist game, the team has also developed Endurance—the underlying mainnet for Fusionist, which serves as the infrastructure layer for social interaction and game operation.
Endurance officially launched on January 31, 2023, with over 610,000 users within 7 days of launch and 114,800 daily active wallet addresses. It has accumulated over 1.86 million holding wallet addresses and has facilitated over 100 million transactions.
$ACE is the governance token on Fusionist and Endurance, designed to allow users to participate in the network and earn rewards. The token release details for $ACE are as follows: (Initial circulating supply is approximately 21,969,520)
Currently, the main 3A games in the blockchain gaming sector are Bigtime and Illuvium, with the former having a market value of $190 million and the latter having a market value of $380 million.
- If compared to the current circulating market value of Bigtime, the price of $ACE is approximately 8.8U.
- If compared to the current circulating market value of Illuvium, the price of $ACE is approximately 17.5U.
At the same time, the current OTC transaction price is between 10-12U. Therefore, the market expectation indicates a value of 12U or higher, which is expected to be higher than the market value of Bigtime. Therefore, a price range of 12-20U may be a more reasonable price for $ACE after its launch.
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