Summary
TLDR: Binance launched the Portal gaming token, attracting over $8.6 billion in staked funds. The token will be listed on the exchange on February 29. Portal aims to be a cross-chain gaming platform and has ties to SuperDuper and Rockstar Games co-founder Jamie King. BNB price surged amid the staking frenzy.
Key Points
1. The launch of the Portal gaming token next week has generated enormous pent-up demand, with over $8.6 billion worth of Binance Coin (BNB) and FDUSD stablecoin staked in Binance’s rewards pools for Portal.
2. Binance is offering 50 million PORTAL tokens via the pools, equivalent to 5% of the total supply of 1 billion tokens. The current bid price for Portal is $0.57 per token, with an estimated reward pool value of about $28.5 million.
3. Portal is a cross-chain gaming token and platform aiming to provide a single place for users to play and interact with blockchain games across various chains. The project plans to integrate chains like Solana and Polygon, with involvement from team members and advisors tied to SuperDuper and Rockstar Games co-founder Jamie King.