Binance Reveal First Launchpad Project of 2020, WazirX

Binance Reveal First Launchpad Project of 2020, WazirX

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

The first Binance Launchpad project of 2020 has been announced, WazirX.

Binance Launchpad is the wing of the crypto platform by which they put their support behind innovative projects. Last year there were various projects of all shapes and sizes supported by this initiative and by working together with them they managed to raise their profile exponentially. Now the time has come for a new set of Binance Launchpad projects and they have unveiled details of the first of 2020, the Indian bitcoin exchange, Wazirx.

It is described by Binance as the most trusted within the sector of the industry it operates – mostly owning to the fact it has the world’s first auto-matching P2P (peer-to-peer) engine. The core aim of the platform is to solve the fiat-to-crypto currency conversion problem by simplifying the process of depositing and withdrawing fiat currencies which is precisely what the P2P solution solves. The platform also offers in the range of 80 digital assets on its platform, including Bitcoin, BNB, Bitcoin Cash, Litecoin and Dash, available to trade.

The Goal

While it is already established and prominent in India, on a wider scale it remains fairly obscure. This is precisely where Binance – who completed an acquisition of the firm in November – come in. Wazirx will still work independently but via the support they receive from Binance Launchpad they will be looking to expand and develop their business to cover other regions also. With a heavy emphasis on nations that are similar to India and where similar problems are present.

There are two ways by which Binance and their traders will be able to assist in this goal. The first of these is an IEO of Wazirx’s native token which works are the backbone of the platform’s ecosystem. This will happen on the platform on February 3, 2020, at 00:00 UTC with a lottery-format ticket claim. According to both firms’ CEOs, this will be a major step towards this goal.

Binance CEO and Founder, CZ (Changpeng Zhao), stated that “The WazirX token sale on Binance Launchpad will enable WazirX to introduce its technology outside of India and allow the Binance community, and beyond, to learn about and support the WazirX team.”

While his opposite number at Wazirx, Nischal Shetty, explained that, “WRX helped WazirX attract all the early crypto adopters in India, and currently, it’s the most popular exchange token in the country. The IEO of WRX will help us solve the fiat to cryptocurrency conversion problem globally for many more countries.”

WazirX Token Bounty

However, ahead of this, you can get involved in the project thanks to a bounty that is being held on Binance for the WazirX token where $100,000 worth will be up for grabs. These can be earned by users by completing 5 bounty tasks where are as follows.

Task 1: Buy a minimum of $10 USD equivalent via any of Binance’s fiat to crypto options.

Task 2: Complete a valid BNB trade (Buy or sell) during the activity period.

Task 3: Convert $10 or more of any eligible stablecoin to BUSD here.

Task 4: Refer a friend to open a Binance Futures account (Guide here).

Task 5: Complete a valid trade on any Binance Futures contract during the activity period.

The more tasks you complete, the higher share of rewards you will get. These have been detailed as follows:

  • Complete any 3 out of 5 tasks to share a prize pool worth $15,000 USD of WRX tokens.
  • Complete any 4 out of 5 tasks to share a prize pool worth $25,000 USD of WRX tokens.
  • Complete all 5 tasks to share a prize pool worth $60,000 USD of WRX tokens.

This will run from 2020/01/23 0:00 AM to 2020/02/02 0:00 AM (UTC) so you have up until 2 days before the IEO to get involved. Go to Binance now to get started!

Recently Similar News

Latest Guides

Latest News

Bitcoin,eToro,Trading

eToro Temporarily Raises Minimum Deposit To $1,000

For the past few weeks, the increase in Bitcoin’s price has led to a massive interest in cryptocurrency trading. eToro has been overwhelmed by new registrations and has decided to temporarily raise the minimum deposit from $200 to $1,000. Although 2021 has barely gotten started, it promises to be an exciting time to invest in […]

11 January, 2021
Bitcoin,Investment,Trading

Global Cryptocurrency Market Value Surpasses $1 Trillion

Thursday has proven to be a monumental day for cryptocurrencies as the world’s combined value tops the $1 Trillion mark. Energised by a substantial rise in the value of Bitcoin in recent months, the volatile crypto market has reached a once-unreachable value. Following the latest Bitcoin Halving in May 2020, the world’s largest digital token […]

10 January, 2021
Sponsored

Victory over virus: SiGMA Virtual Expo hosts 100+ exhibitors

SiGMA Europe and AIBC Virtual Expos launch with record breaking attendance, providing a cure to the industry’s events sector In the light of this year’s changes in our everyday lives, SiGMA was close to having to stop doing what it does best; creating networks for people through the company’s iconic physical events, but luckily, the […]

26 November, 2020
Blockchain,Changelly,Cryptocurrency,Exchange Platforms

Changelly Adds Ardor, Ignis, and NXT to Changelly PRO

Changelly, the online cryptocurrency exchanges, has added three more tradable assets to their Changelly PRO platform. Changelly, the large online crypto exchange, has recently added an additional three cryptocurrencies to their Changelly PRO platform, Ardor, Ignis, and NXT. All three tokens developed by Jelurida will be tradable against BTC as ARDR/BTC, IGNIS/BTC, and NXT/BTC. Jelurida […]

6 November, 2020
Crypto Wallets,Exchange Platforms,Kraken,Ledger

Ledger Phishing Scam is Targeting Crypto Wallet Users

Ledger, the cryptocurrency wallet company, has been massively affected by a data breach and phishing scam. Ledger, the world renowned cryptocurrency hardware wallet producer, is facing a lot of problems with a data breach that is being used to target their customers. Kraken Intelligence, the intelligence arm of the Kraken cryptocurrency exchange, analyzes this data […]

5 November, 2020
Bitcoin,Blockchain,Cryptocurrency,Ethereum

Ethereum on Track to be First Blockchain To Process $1 Trillion In Yearly Transactions

Ethereum, the second largest cryptocurrency by market cap, is preparing to break the $1 trillion mark in yearly processing. Ethererum, the largest cryptocurrency behind Bitcoin, is on track to be the first blockchain to process over $1 trillion in transactions in a single year. Currently, the Ethereum network is processing more than double the amount […]

4 November, 2020
Binance,Blockchain,Cryptocurrency,Exchange Platforms

Binance is Giving Away $20,000 in Fifth Learn and Earn Series

Binance, the largest online cryptocurrency exchange, is hosting its fifth learn and earn series, this time with Orion Protocol. Binance, the worlds largest cryptocurrency exchange, will be hosting their 5th Learn and Earn campaign in collaboration with the Orion Protocol. In this campaign, Binance will be giving away $20,000 worth of ORN, the native cryptocurrency […]

3 November, 2020
Bitcoin,Blockchain,Cryptocurrency,Exchange Platforms

Bitcoin Monthly Prices Finishes at Second All-Time High

At the end of October, Bitcoin has registered its second highest closing price of all time. Bitcoin bulls continue to rejoice as Bitcoin closes at its second highest monthly price in the history of the digital currency. Bitcoin closed October with a price hovering right around $13,800, the second highest monthly price finish besides the […]

2 November, 2020