Binance Announces Launch of New Web3 Gaming Altcoin on Launchpool Platform
Binance, the leading global crypto exchange, has revealed its plans to list an upcoming social Web3 gaming altcoin called Pixels (PIXEL) on its Launchpool platform. This blockchain-based game is centered around farming and exploration, offering users an open-ended gaming experience.
Stake BNB and FDUSD to Farm PIXEL Tokens in Binance’s Launchpool
Starting this Friday, Binance users will be able to stake BNB and the stablecoin FDUSD in separate pools over a period of 10 days to farm PIXEL tokens. This presents an exciting chance for users to earn new assets through staking their existing coins. The exchange is set to list PIXEL for trading on February 19th and will assign a seed tag to the asset.
Seed Tags and Quizzes: Managing Volatility and Educating Users
To manage the potential volatility of lower-liquidity tokens like PIXEL, Binance applies seed tags to these assets. Users who own assets with seed tags are required to pass quizzes every 90 days as a way to ensure they are fully aware of the risks associated with these tokens. This demonstrates Binance’s commitment to educating users and promoting responsible investment practices within the crypto space.
Pixels Game Gains Traction with Over 180,000 Daily Active Users
Pixels has experienced remarkable growth, surpassing more than 180,000 daily active users in 2023. The game attributes its success to its thriving, engaged, and passionate community, as well as its migration to Ronin, a gaming-focused Ethereum sidechain. The introduction of Pixels to the players in the Ronin ecosystem has expanded its core community and driven its explosive growth.
Phasing Out BERRY for PIXEL: Rewards and Transition Plans
Pixels is transitioning from its in-game currency, BERRY, to PIXEL tokens. The project will reward BERRY holders with a proportionate number of PIXEL tokens, ensuring a seamless transition for its users. Additionally, BERRY will be replaced with an off-chain coin in the game, enhancing the gameplay experience for players while maintaining the value and utility of PIXEL tokens.
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Analyst comment
1. Binance Announces Launch of New Web3 Gaming Altcoin on Launchpool Platform: Neutral news. There is no explicit positive or negative impact on the market. However, the launch of a new altcoin may attract attention and potentially increase trading volume on Binance.
2. Stake BNB and FDUSD to Farm PIXEL Tokens in Binance’s Launchpool: Positive news. This presents an exciting opportunity for users to earn new assets through staking their existing coins, which may drive increased demand for BNB and FDUSD.
3. Seed Tags and Quizzes: Managing Volatility and Educating Users: Positive news. Binance’s commitment to managing volatility and educating users promotes responsible investment practices, which can contribute to a healthier and more informed market.
4. Pixels Game Gains Traction with Over 180,000 Daily Active Users: Positive news. The significant growth of Pixels indicates a thriving community and increased interest in blockchain-based gaming, potentially attracting further investment and market growth.
5. Phasing Out BERRY for PIXEL: Rewards and Transition Plans: Positive news. The seamless transition from BERRY to PIXEL tokens, along with the rewards for existing BERRY holders, can enhance user engagement and drive demand for PIXEL.
6. Stay Informed with The Daily Hodl for Crypto News and Insights: Neutral news. The promotion of news and insights platforms does not directly impact the market, but it can help readers stay informed about market trends and potentially make more informed investment decisions.
