Investors Stake Almost $14 Billion Notcoin On Binance Ahead Of Exchange Listings
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PXL
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Investors have staked over $13.7 billion worth of NOT, the native token of the viral Telegram-based game Notcoin, on Binance ahead of the token’s listings on several crypto exchanges.
This was after the developer Open Builders activated in-game claims for Notcoin’s approximately 35 million players on May 14.
Binance Launchpool Distributing Over 4% Of Notcoin Supply
Players were able to decide what to do with their earned NOT tokens. Awarded at a 1,000-to-1 ratio based on the in-game coins mined earlier this year, players could deposit their NOT to Binance, OKX, ByBit, or the Wallet app on Telegram yesterday.
Deposits will be paused today, as the team gears up for NOT’s listings on a number of major centralized exchanges. After the listing, tokens holders will be able to deposit their tokens to their self-custody wallets.
The countdown is on ⏰
Not long to go before staking for the $NOT #Binance Launchpool ends.
If you haven't staked yet, get involved below.
➡️ https://t.co/wv8B7j1NdT pic.twitter.com/CZwkTgLvPy
— Binance (@binance) May 15, 2024
Players were also given the opportunity to stake their tokens through the staking reward campaigns launched by Binance and OKX on May 13. This allowed players to earn a higher status level, which will give them “access to better conditions and exclusive projects,” according to an official Telegram post.
Combined, the exchanges will offer over 4 billion NOT tokens, making up more than 4% of the altcoin’s total supply. Binance will give out the largest amount of tokens of the two platforms, with over 3 billion tokens up for grabs in its Launchpool campaign.
Of the $13.7 billion staked on Binance’s Launchpad, over $2.6 billion has been staked in the FDUSD pool.
NOT Showing The Same Early Success As PORTAL And PIXEL
Investors have rushed to stake their tokens in anticipation of tomorrow’s listings, with NOT displaying a similar trend to those of competitors Pixels (PIXEL) and Portal (PORTAL) during the early stages of their respective launches.
— Notcoin Ø (@thenotcoin) May 14, 2024
Both of these gaming projects brought in billions of dollars worth of staking interest. Thereafter, they debuted to fairly large market caps. PIXEL is currently valued at over $259 million, while PORTAL’s market cap stands at more than $141 million.
Another GameFi crypto that’s about to launch is SPONGE V2, with more than $19 million worth of the meme coin staked and bridged. This comes amid the project’s expansion into the blockchain gaming sector, with the upcoming launch of its play-to-earn racer game.
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