Binance to Support New Cross-Chain Crypto Gaming Project Portal Through Launchpool
Popular cryptocurrency exchange Binance has announced plans to back an exciting new cross-chain crypto gaming initiative called Portal (PORTAL) through its Launchpool platform. The main objective of this project is to integrate games from different blockchains by utilizing its token platform.
Through Launchpool, crypto enthusiasts will have the opportunity to stake their coins to farm new assets. Starting Wednesday, Binance users can stake their BNB and the stablecoin First Digital USD (FDUSD) in separate pools for seven days, earning PORTAL tokens in return. PORTAL will then be available for trading on February 29th, but it’s important to note the token’s seed tag, indicating its potentially lower liquidity and higher volatility. Token holders will also be required to pass quizzes every 90 days to stay informed about potential risks.
Portal is collaborating with LayerZero to provide a seamless multi-chain gaming experience. PORTAL tokens will have various uses, including network fees, payments, governance, staking, and node purchases.
This move showcases Binance‘s continued support for innovative crypto projects and its dedication to expanding the blockchain gaming industry. With the integration of different blockchains, Portal aims to offer users a diverse gaming experience like never before.
Analyst comment
This news can be evaluated as positive for the market. The support from Binance for the cross-chain gaming project Portal through Launchpool indicates a positive outlook for the project. The integration of different blockchains and the diverse gaming experience it aims to offer could attract more users and investors. However, the potentially lower liquidity and higher volatility of PORTAL tokens should be considered.
