Binance Announces Support for New Cross-Chain Crypto Gaming Project on Launchpool – The Daily Hodl

Binance plans to roll out support for a new cross-chain crypto gaming project via its Launchpool platform.

The top global crypto exchange says the 47th Binance Launchpool project will be Portal (PORTAL), a project that aims to unite games from different blockchains on its cross-chain token platform.

Launchpool allows users to stake coins to farm new assets.

Starting on Wednesday, Binance users will have seven days to stake BNB and the stablecoin First Digital USD (FDUSD) in separate pools to farm PORTAL tokens. The exchange will then list PORTAL for trading on February 29th and apply a seed tag to the asset.

Binance applies seed tags to lower-liquidity tokens that have more volatility potential, and users who own assets with tags are required to pass quizzes every 90 days to ensure they’re aware of their inherent risks.

Portal has partnered with LayerZero, an omnichain interoperability protocol, to “enable a seamless multi-chain experience for gamers.”

Explains the project,

“Portal’s technology delivers gamer access and game distribution for a vast array of titles, paving the way for a smooth transition for Web2 gamers into the Web3 universe.”

The PORTAL token will be used for network fees, payments, governance, staking and node purchases, according to the project’s whitepaper.

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