BNB Skyrockets as Sleepless AI Launches on Binance
Binance's native token, BNB, saw a substantial surge in value following the announcement of Sleepless AI's launch on the platform.
This development introduces a week-long opportunity, starting December 28, for Binance users to stake BNB, FDUSD, and TUSD in exchange for AI tokens, marking Binance’s 42nd project on its Launchpool.
Sleepless AI, an innovative gaming platform merging AI and blockchain, aims to disrupt the gaming sector with its pioneering approach. The team’s expertise is harnessed to redefine the gaming landscape.
The staking process on Binance necessitates KYC verification, featuring hourly reward caps for users. The rewards are divided across different staking pools, with the majority—56,000,000 AI—reserved for BNB stakers (constituting 80% of rewards). Additionally, 7,000,000 AI each is allocated for FDUSD and TUSD stakers (10% each of rewards).
This staking opportunity runs until January 3, 2024, assuring a fair distribution of Sleepless AI tokens.
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Come January 4, 2024, Binance will list the AI token, presenting various trading pairs. The AI token’s total supply stands at 1 billion, with 70 million (7%) earmarked as Binance Launchpool rewards. Initial circulation encompasses 13 million AI tokens (13%). Token holders can leverage these tokens for discounted in-game purchases.
In response to this announcement, Binance Coin (BNB) surged by 9.45%, reaching a trading value of $288.75. The 24-hour trade volume soared by 71.06%, peaking at $1.3 billion, while BNB attained a one-month high of $288.79.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
