The Binance Launchpool project of the year award has held annually since its inception.
This year, the award was given at the BinanceTurns5 in-person event where Binance, in appreciation, awarded volunteers, influencers, and projects contributing to the Binance Ecosystem.
Binance started the Launchpool in 2020 to help emerging crypto projects grow their valuation and in their words, ‘distribute their tokens to a wider audience’.
The Launchpool, however, has recorded huge success in a short time. In less than a year, it had listed 19 projects distributing a total of $85.3 million in tokens from 17 completed projects.
These tokens are valued to be worth $209.8 million now.
In 2021, the Binance Launchpool project of the year nominees were:
- My Neighbor Alice
- Hard Protocol
- Unifi Protocol
The award was won by My Neighbor Alice; a blockchain multiplayer builder game.
How Is The Binance Launchpool Project Of The Year Nominated?
To nominate projects, Binance excludes all projects they’ve acquired and considers the ROI performance, market influence and traction, and level of integration (of the remaining projects) with the Binance ecosystem.
Broken down, this is the success factor to consider before selecting nominations:
- Token price performance ROI: 50%
- Market influence and gained traction: 30%
- Binance Ecosystem integration: 20%
The Project Of The Year 2022
The award for project of the year 2022 was given in the Binance Innovation Awards category. This category recognizes the best projects on the Launchpool, Launchpad, BNB Chain, and in the Binance NFT ecosystem.
This year, Project Galaxy won the Launchpool project of the year award.
In May, Project Galaxy recorded a huge trade volume of over $500 million in less than 24 hours when it started to trade on Binance.
The credential network, as it is often called, records on-chain and off-chain user activities and provides this information to Web3 developers and projects to help them build better projects and communities.
The Binance Launchpool offers a lot of benefits to emerging projects.
Though one project emerged as the project of the year, every project listed on Binance Launchpool enjoys equal access to Binance’s marketing resources, connections to other projects within the Binance ecosystem, and increased asset liquidity, among others.