Binance Launches NFPrompt (NFP) on Launchpool
Binance has introduced NFPrompt (NFP), an AI-driven project designed for Web3 creators, offering staking opportunities with BNB, FDUSD, and TUSD.
The world’s largest cryptocurrency trading platform, Binance, made an announcement on Tuesday about its 41st project on Binance Launchpool, unveiling NFPrompt (NFP). This move has garnered significant attention from the crypto community, providing a unique opportunity for users to farm NFP tokens by staking BNB, FDUSD, and TUSD.
Farming NFP Tokens: A Unique Opportunity for Crypto Enthusiasts
According to a statement released by Binance, NFPrompt (NFP) is an AI-powered User Generated Content (UGC) platform that aims to benefit Web3 creators. Starting from December 20, 2023, users can stake their BNB, FDUSD, and TUSD in separate pools to farm NFP tokens over a 7-day period.
Binance has outlined plans to list NFP on December 27, 2023, at 10:00 UTC, offering multiple trading pairs such as NFP/BTC, NFP/USDT, NFP/BNB, NFP/FDUSD, NFP/TUSD, and NFP/TRY. This listing is expected to enhance the liquidity and accessibility of NFP tokens in the broader crypto market.
Binance Launchpool Fair Mode reflects the platform’s commitment to safeguard and enhance the interests of the community and retail users. This model ensures a more equitable distribution of tokens during the initial circulation phase and aims to reduce inflation pressure by preventing some allocations from entering circulation.
The total token supply for NFPrompt is capped at 1 billion NFP, with 11% (110 million NFP) set aside for Launchpool token rewards. Initially, only a fourth of the total tokens will be in circulation. As per the staking terms, KYC verification is mandatory, in addition to hourly hard caps per user for each pool.
Following Binance’s announcement, the BNB price rallied over 5% to $251, indicating that the overall market sentiment around the project is positive. This uptick also highlights the growing interest in innovative projects within the crypto space, especially those underpinned by AI, and that focus on content creation in the Web3 landscape.