The platform will allow at least one launch of a new token on a monthly basis during 2019 and the debuting coin in BitTorrent’s BTT and Fetch.AI.
According to Binance, the platform Binance Launchpad “ helps blockchain projects raise funds and increase their reach across the crypto ecosystem.”
The platform will reportedly do this by “offering a project’s tokens” to its user base which currently flaunts more than 10 million people. This allows Binance to become a game changer in the space.
Binance also explained that their platform is more than a launch opportunity for new tokens, “It’s also a full advisory service for projects, which will benefit from our insights and experience.”
BitTorrent’s BTT & Fetch.AI
BitTorrent launched its native token BitTorrent (BTT) based on the Tron protocol, and it can be changed between users, and the benefits it will bring is faster network and downloads.
The tokens feature native TRC-10 compatibility., according to the press release shared with Cointelegraph.
This means that they adhere to a technical token standard that is supported by the Tron blockchain.
The other coin that is launched is Fetch.AI which is backed by Outlier Ventures. It is an artificial intelligence-driven decentralized blockchain network.
Rigorous review project
According to Binance, before a project’s token becomes available on the Launchpad, the project will have to pass through a strong review process to determine whether it passes through Binance’s standards.
Here are a few examples of requirements that a project must comply:
Relatively mature-stage project development
Readiness for large-scale adoption
A strong and committed team
Potential to benefit the growth and development of the wider crypto ecosystem