Launchpool Sets Out To Discover New Worlds!
Launchpool explores the gas-lite Binance Smart Chain with RAI Finance.
Another day, another exciting announcement to bring our Poolers! Today those who participated in our recent RAI Finance Pop-up-Pool (PuP) will be able to claim their $RAI tokens on Binance Smart Chain. Read on below for more details…
Launchpool’s goal has always been to provide everyone with the same access to deals, regardless of how much people are able to invest. As we embark on our journey in earnest to bring a #FairLaunch4All, we also want to ensure that we do everything in a way that is compliant with regulations to protect all stakeholders. What is also important is to provide the best possible service.
We have listened to the community feedback and we hear the continual request for cheaper transactions. Expensive gas fees hit smaller investors hard. Alternative blockchains provide cheaper transactions, while also giving up some characteristics such as decentralisation. Currently, the most successful blockchains trade these attributes off against each other in what Vitalik Buterin has famously called the “blockchain trilemma.”
Therefore, we are exploring the ability for Launchpool to be able to offer services on other platforms. Ultimately, we would like it to be the choice of our Poolers on which platforms they would like to do their investing. Launchpool would merely facilitate these services on the chain of choice by our Pooler community.
Your crypto. Your choice.
However, to get to this end goal we must first take small steps.
Launchpool Explores the Binance Smart Chain via Rai Finance!
The first step in our quest to explore new blockchain worlds is related to one of our PuP partners — Rai Finance. For those who are holding the $RHT token, pay special attention to the instructions for receiving it in this paragraph. The distribution of the actual $RAI token will take place on Binance Smart Chain. The advantages of this distribution are that not only can investors receive their tokens today, but they also can link their Launchpool KYC address on both Binance Smart Chain and Ethereum. We suggest checking out RAI’s new Pancakeswap pool to trade or add liquidity, both with extremely low gas fees! In the near future, we will support a liquidity pool for Rai Finance token holders to stake their $RAI and earn $LPOOL. There is much more news to come in relation to Launchpool staking pools, as we will be shuffling around their incentive structures, so please stay patient for announcements next week.
Today, we ask our Rai Holding token holders to set up their Metamask wallets on the BSC chain. It is very important that you use your exact same Ethereum address that is holding your $RHT token on Ethereum. You need to set up the same address so that it works on both Ethereum and Binance Smart Chain.
This very easy ‘How To’ from Binance Academy details what needs to be done.
We will airdrop the first tranche of $RAI tokens as soon as there are a few wallets registered. We can do this because holders will have the same wallet address, and thus the same private keys, on both chains. This is why it was so important to leave your tokens where they were in your wallet! Poolers need do nothing more than set up their wallet as directed in the Binance Academy article.
Cheap gas BEP20 $RAI tokens are in your near future!
Rest assured, we will only airdrop to those wallets once they exist on BSC, so you don’t miss out. Although we do recommend you do this as quickly as possible. We will only support BSC for this airdrop, not Ethereum. We ask our faithful and committed Poolers to step forward with us into this new frontier.
You may also want to consider KYCing this same address so that it works on both Ethereum and Binance Smart Chain for future Launchpool products!
RAI token contract on BSC:
(Be Sure to add this to Pancakeswap, do not search for RAI)
You must add this token to Metamask on the Binance Smart Chain as well as to Pancakeswap to be able to see the token there.
The trading pair on Pancakeswap is RAI / USDT.
This is just the first step in Launchpool’s journey to extending our services over multiple platforms with multiple partners. Keep an eye out for announcements as we shake up our staking format and pools to better support our community.
About Rai Finance
Rai Finance ($RAI) is a project to establish a decentralized finance (DeFi) ecosystem based on Polkadot blockchain. Rai Finance, combined with Polkadot’s cross-chain technology, is established to complement the problems of building DeFi-based digital assets and supplying liquidity to existing distributed financial ecosystems.
Launchpool ($LPOOL) leverages communities, knowledge, expertise, contacts and capital to provide crypto projects with the best possible start to life, maximising their chances for success in this fast moving & dynamic space.