PORTAL will launch on February 29, according to the Binance Launchpool campaign page, and the crypto exchange will list the token at 10am UTC (or 5am EST). The Launchpool campaign will debut tomorrow, February 22, and offer token staking rewards ahead of the listing.
Binance customers who stake either Binance Coin (BNB) or the FDUSD stablecoin into PORTAL liquidity pools can earn a share of the total rewards pool, which numbers 50 million tokens—that’s 5% of the total PORTAL supply of 1 billion Ethereum-based tokens.
According to Binance, the token will debut with a circulating supply of 167,134,615 PORTAL, or about 16.7% of the total supply. However, Binance’s Launchpool campaign is not available to users in many countries, including the United States, Canada, Australia, Japan, and more. A full list can be found here.
Portal has yet to announce details about the actual airdrop distribution following a farming campaign that spanned November and December last year. A Portal representative told Decrypt’s GG that details will be announced before the Binance token listing.
In pre-market trading on Whales Market, the PORTAL token is commanding bids of $1.02, which puts the total estimated value of the Binance rewards pool at just a hair over $50 million.
What is Portal? Billed as a cross-chain crypto gaming platform and token, it’s designed to bridge the gap across various ecosystems, providing one place to play, discover, and transact across popular blockchain games.
⚡ Portal x @binance ⚡
The moment you’ve all been waiting for is nearly here. On Feb 29, 10am UTC, $Portal will officially launch on @binance.
This is just the beginning. We’ve got so much to show you about Portal and the products we’ve been building. Get ready! https://t.co/zge4Prs1n1
— Portal (@Portalcoin) February 21, 2024
Some of Portal’s founding team members and advisors are associated with SuperDuper, the startup behind Ethereum NFT collection Creepz, including Chief Business Officer Dan Keene, who serves the same role at SuperDuper. Advisors Jamie King (ex-Rockstar Games) and Matt Dixon (ex-Electronic Arts) are among those who also advise SuperDuper.
Portal is represented by prominent Hollywood agency WME. Beyond the airdrop farming campaign, the project also held a presale in December that attracted nearly $10 million worth of interest across Ethereum and Solana in just 15 minutes alone.
The Portal campaign comes right after Binance concluded a Launchpool push for PIXEL, the Ethereum token of the Ronin network game Pixels. PIXEL was listed Monday and generated more than a billion dollars worth of trading volume in less than a day, making it one of the top 10 most-traded cryptocurrencies in the world that day, per data from CoinMarketCap.
Edited by Ryan Ozawa.