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Binance Launchpool 47th – Portal

Just one day after the conclusion of the Pixel Launchpool event, Binance swiftly announced the 47th Launchpool project – Portal. The event is set to run for 7 days, starting from February 22, 2024.

Binance Launchpool 47th Portal
Source: Binance Announcement

Within just 24 hours from the beginning of the Launchpool, over $8.6 billion was staked. This figure surpasses any previous project launched on Binance’s Launchpool, indicating significant anticipation and excitement from the community.

1. About Portal

Simply put, Portal is a Web3 gaming platform that allows users to access and choose their favorite games for download and play. The concept of Portal is somewhat similar to Steam in the traditional market.

With its Cross-chain solution built on LayerZero, Portal enables users to play games across various blockchains like Solana, Polygon, and soon other chains as well. Currently, Portal’s library has attracted over 200 game titles across various genres. These games will utilize a common infrastructure and the unified token $PORTAL.

Beyond players, the Portal ecosystem also allows users to earn daily rewards by becoming node validators for the platform.

Portal What Are Founder Nodes
Source: portalgaming.com

Some of the project’s standout features include:

  • Portal Launchpad acts as the arena for Web3 game projects on Portal to fundraise and bond with players via a Stake-To-Access scheme. Gamers wielding PORTAL tokens can stake their way into exclusive events like token or NFT launching.
  • Portal Passport is developed by Portal as a solution to create a unified identity for gamers across all blockchains, enabling them to access over 200 games on Portal without the need to create new accounts for each game. This facilitates a seamless exploration of different games without multiple logins, enhancing the gaming experience for a diverse audience.
  • Portal Wallet, the embedded non-custodial wallet within Portal, breaks down barriers for Web3 gaming newbies, offering straightforward entry points through well-trodden Web2 social platforms like X (the new face of Twitter), Discord, and beyond.

2. Portal’s tokenomics

The $PORTAL token is widely used within the project’s ecosystem. According to the project’s introduction, $PORTAL holders can:

  • Participate in staking to join the Portal Launchpad.
  • Use it as a transaction fee within the ecosystem (for activities like buying/selling game items).
  • Exercise governance rights.
  • Gain special access to events of game projects within the ecosystem (such as priority in buying NFTs).
  • Use $PORTAL as a transaction medium on partner projects like Magic Eden.
Binance Launchpool 47th Portal Utility
Source: portalgaming.com

The total supply of $PORTAL is 1 billion, with the project having allocated 33% of the supply for sale to investors. The price in the most recent funding round was $0.0879/PORTAL.

Portal Takenomics
Source: cryptorank.io

Notably, at the time of TGE, besides those participating in the launchpool, Private & Public sale investors as well as Team & Advisors are all allowed to unlock tokens. Specifically:

  • Private Sales Investors: 2.8%.
  • Public Sale Investors: 1.65%
  • Team & Advisors: 0.8%

This is somewhat different from typical projects where the allocation for private investors and the team is usually locked for a fixed period (about 6-12 months).

Portal Coin
Source: cryptorank.io

At the time of writing, the pre-market price of $PORTAL is trading at $2.86/PORTAL, with a trading volume of nearly $5M.

Portal Token
Source: app.whales.market

If listed on Binance at this price, private investors can expect a minimum profit of 30 times. Consequently, the project’s FDV would reach ~$3B, relatively large compared to other gaming projects at the current time ($1.5B). Therefore, users should be cautious when making investment decisions.

The information provided in this article is for reference purposes only and should not be considered as investment advice. All investment decisions should be based on thorough research and personal evaluation.

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