Binance Reveal First Launchpad Project of 2020, WazirX

Binance Reveal First Launchpad Project of 2020, WazirX

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 owing 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!

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

ChangeNOW,Decentralised,Fraud

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021
CFD Trading Platform,eToro,Trading

eToro Lowers The FTD Minimum Across Several Countries

eToro, the social trading and multi-asset platform, has decided to lower the minimum first time deposit, or FTD. Until further updates, users who sign up today using the link below will be able to fund their trading account with as little as $50. This offer is only valid to users in selected countries. To participate […]

24 September, 2021
ChangeNOW,Cryptocurrency,Investment

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021
eToro,Investment,Trading

eToro Becomes An Official Partner Of RB Leipzig

The world’s leading social investment network, eToro, has recently announced a new and exciting partnership. According to an announcement on eToro’s Twitter page, the company has become the latest partner of the German football team, RB Leipzig. A two-year partnership agreement has been signed between the parties. Running until 2023, this agreement can be extended […]

24 August, 2021
Binance,Bitcoin,token

PSG’s Messi To Receive Part Of His Salary In Cryptocurrency

The Argentinian footballer, Lionel Messi, has made headline news several times in the past few weeks. Following his surprise departure from FC Barcelona, the player confirmed that he will be joining Paris Saint-Germain FC. The move was significantly newsworthy but got even more interest when it was announced that part of the footballer’s salary will […]

23 August, 2021
Blockchain,Casino,Ethereum

KingTiger Casino Announces Shut Down

KingTiger Casino has announced that it has ceased all operations until further notice. According to its website, the casino has had to “temporarily close” due to Ethereum network congestion. It is not yet clear if and when this online Bitcoin casino will reopen. Meanwhile, we invite you to check out other Bitcoin casinos from our […]

12 August, 2021
Binance,Casino,Cryptocurrency

CryptoCasino Announces Temporary Close

CryptoCasino has stopped operating until further notice. According to a landing page on their website, the casino is undergoing an update. There is no information about when the casino will reopen or the reason why an update required the website to shut down temporarily. Players who hold a crypto wallet account with CryptoCasino need not […]

11 August, 2021
Binance,Bitcoin,SEPA

Binance Suspends SEPA Inward Payments Until Further Notice

Binance Suspends SEPA Inward Payments Until Further Notice Binance has just announced that it has temporarily stopped all incoming SEPA payments. As a result, users will no longer be able to deposit euros using the primary European payments network. The world’s largest cryptocurrency exchange did not provide any specific information regarding the reason behind this […]

12 July, 2021