Key takeaways:
- The Binance Launchpool Hashflow campaign started yesterday
- Binance users will able to farm HFT tokens with their BNB and BUSD until November 30
- Hashflow (HFT) will be listed in Binance’s Innovation Zone on November 7
Hashflow (HFT) gets listed as the 31st Binance Launchpool project
After a several months long hiatus, Binance has revealed the 31st blockchain project to get featured on Binance Launchpool, a platform that lets early investors generate liquidity for innovative, up-and-coming crypto projects, and earn crypto tokens in exchange.
The Launchpool for Hashflow (HFT) started on November 1, at 00:00 UTC, and is slated to run for 30 days. On November 7, at 13:00 UTC, Binance will list HFT, the project’s native utility and governance token in the Innovation Zone, and open HFT/BTC, HFT/BUSD, and HFT/USDT trading pairs.
The token generation event will see 1,000,000,000 HFT minted, with 1.5% of the genesis supply being allocated for Launchpool investors. In other words, 15,000,000 HFT will be distributed to Hashflow ICO investors staking their BNB and BUSD on Binance. 80% of the entire HFT farm amount will go towards BNB farmers, while the remaining 20% will be distributed to BUSD users. The Hashflow farm campaign is available exclusively to registered Binance users.
What is Hashflow?
Hashflow is an interoperable decentralized trading protocol supporting Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, and Optimism. The zero-slippage interoperability trading platform has facilitated $10 billion in trading volume since its launch last year.
Governance rights in the Hashflow network are determined by the amount and duration of HFT staked. “Staking tokens will grant users the right to vote and manage the future of the protocol. This includes decisions relating to protocol fees, marketing, and code development,” wrote Binance in its Hashflow research piece.
The latest project to get featured on Binance Launchpool, Hashflow enables DeFi users to swap crypto assets between chains in minutes without the need for external token bridges.
It is worth noting that HFT tokens have been available to private investors at a Hashflow price of $0.02, $0.10, and $0.40 during three rounds of private sales. In total, the team raised roughly $28 million in the sale of 25% of the total supply to private investors.
Binance’s Hashflow Launchpool is the exchange’s first farming event in six months
The listing of Hashflow on Binance Launchpool comes roughly six months after the conclusion of the Project Galaxy framing campaign. The reason for the long hiatus likely lies in the fact that the crypto markets have been facing severe bearish activity in the second half of 2022.
The price of the BNB token, which can be used to farm Hashflow crypto tokens, increased by more than +10% in the last 24 hours, largely ignoring the broader negative market trend.
