Binance Launchpool (SafePal) - How did it go? Was it worth it?
So, yesterday I decided to give a Binance Launchpool a try for the first time. I decided to enter the SFP launchpool with some BNB, and as a result, get some SFP tokens. It was a bit scary since I haven't been a part of such before, only some ICO's back in 2017, and that never went really well.
But, I decided to give it a try because I trust Binance, and I also believe in the SafePal project itself.
How it worked?
First of all, I have some BNB tokens on Binance, and based on my average holdings in the last days before the Launchpool start, I was allowed to dedicate my average number of tokens to the pool. And so I did. It felt scary, because I have worked hard to get those BNB tokens, and I fear losing them!
Luckily, this was all a quick process, so I had four hours in total to add my BNB tokens to the launchpool, and then I had to wait one hour, before I could see the result. And that is when my true shock came!
I was only able to use 0,7% of the BNB tokens I wanted to use (or something like that). In other words, if someone submitted 10 BNB tokens to the pool, they would receive 9,93 BNB tokens in return, and only receive SafePal tokens for 0,03 BNB. Man, that felt kind of sad.
And it made me feel even worse when the token was launched and the price went from the original sale price of 0,1 USD to 1,7 USD. In other words, 17x profit if you sold at the top (and that is approximately where it is located in price right now).
So, this was one crazy launchpool, and I wish I would have received some more SFP tokens. But, I didn't.
No matter what, it was a crazy ride, and I guess I will give it another try in future launchpool projects on Binance, because even if I just got a few tokens, I still had a really nice interest for those few hours, so that was great!
This might not be so interesting to everyone, but I just wanted to share my experience, in case anyone else is interested in checking out a Binance Launchpool in the future! You can also read the Binance summary of the SafePal tokens sale at: https://www.binance.com/en/support/announcement/389a3dd800d8408cac1eb13ce4be3b1c
This is an original article written by me for Project Hope!