Binance, the world’s largest cryptocurrency exchange by trading volume, is supporting a new decentralized finance (DeFi) project that allows crypto traders to earn revenue by lending and borrowing certain digital assets, including Bitcoin (BTC), Ripple’s XRP, Binance Coin (BNB), among others.
According to the cryptocurrency exchange, Hard Protocol (HARD) will be supported via Binance Launchpad, its Initial Exchange Offering (IEO) platform.
About Hard Protocol (HARD)
Hard Protocol (HARD) is a cross-chain money market that uses the Kava blockchain for security, price feeds, and cross-chain features.
The project’s lending platform is to initially support Bitcoin (BTC), Ripple’s XRP, Binance Coin (BNB), BUSD, KAVA, and USDX.
The digital token HARD is the native governance token of the new platform and it will serve as a means to distribute rewards to miners and to the people who deposit and borrow the supported crypto assets mentioned above.
A report from Messari indicates that the users of Binance Launchpad have gained notably on projects that offer a large percentage of their tokens in public sales.
It is also of note that in recent months, projects that offer 9% or more have earned the most returns. Additionally, Binance’s Initial Exchange Offering (IEO) platform is distributing 7.5% of the total token supply for Hard Protocol (HARD).