In 2024, Binance led centralized exchanges by distributing 94% of launchpool rewards, totalling $2.64 billion. This significant figure far exceeds competitors like Bybit, which managed $125 million. Participants in Binance’s launchpools reported impressive returns, with APYs ranging from 11% to 436%. Key projects included Saga and Etherna, highlighting Binance’s dominance in the market and community engagement.
In 2024, Binance distributed 94% of all launchpool airdrops and rewards across centralized exchanges, totalling an impressive $2.64 billion. As the largest cryptocurrency exchange by spot trading volume, Binance accounts for approximately half of the global trading activity, solidifying its position as a leader in the sector. The exchange’s proactive engagement with community projects further enhances its status.
The insights from the report “Examining Token Listings on CEXes” reveal that Binance significantly outperformed competitors in distributing rewards via airdrops and launchpools. Launchpools provide investors with opportunities to stake assets for early access to new tokens, thus generating additional income. Through various initiatives, including MegaDrops and launchpads, Binance delivered substantial rewards to its users.
As indicated, Binance’s users enjoyed rewards amounting to $2.64 billion, dwarfing returns from other exchanges. For instance, Bybit, the second-largest player, provided a mere $125 million (4.62%) in rewards, while other notable exchanges like Bitget, KuCoin, and Gate.io issued $20.1 million, $5.4 million, and $5.2 million respectively. This stark contrast underscores Binance’s dominance in user rewards.
Participants in launchpool programs have also reported impressive returns, with a median Average Percentage Yield (APY) ranging between 11% and 112%. The normal APY varies notably, with figures between 52% and 436%, depending on specific assets staked and launchpool conditions.
Significant assets emerged as standout participants in Binance’s launchpools during 2024. For example, the Saga (SAGA) launchpool attracted over ten million staked BNB and issued 45 million SAGA in rewards, establishing it as a top performer. Other notable pools included Etherna (ETHERNA), which rewarded users with a cumulative 240 million tokens, and PIXEL, which dispensed over 280 million tokens during its farming period.
In conclusion, 2024 proved fruitful for cryptocurrency listings on centralized exchanges through innovative launch protocols, yielding average returns of 167.48%. Exchanges like Gate.io, Binance, Bitget, and Bybit recognised strong performance metrics among their listed assets.
This content serves as informational material and should not be construed as financial advice. The opinions expressed are those of the author and do not reflect The Crypto Basic’s views. Readers should undertake their own research before making investment choices, as The Crypto Basic disclaims responsibility for any financial losses incurred.
