Did you know that two different pools will present the entire list of Santos? It includes the BNB pool which will pay out 80% of the estimated reward of 1.5 million Santos Tokens. Moreover, the other one is the BUSD pool which has up to 20% reward allocation. In one of its significant ways of supporting the football clubs, Binance has taken an interest in launching fan tokens.
Their intention to list the Santos FC fan token will be launched on November 26th, 2021. Finance has been known to us as the world’s largest exchange in terms of transaction volume. According to the sources close to the authority, users will be able to stake their BNB and BUSD in separate pools now. They intend to grow the Santos token over 30 days. The activation of the status will start from 2021-11-27 00: 00 (UTC).
More on the Santos FC Coin
After the staking period has ended, the trading platform has announced that it will list the token positively. Moreover, it is structured on the Binance smart chain in the innovation zone on 12/1/2021 at 11:00 a.m. (UTC). In addition to that, it has been linked with open trading with SANTOS / BTC, SANTOS / TRY, SANTOS / BRL, and SANTOS / USDT.
These are the trading pairs respectively that they have come up with. However, Launchpool will distribute a total of 1,500,000 SANTOS tokens as a form of reward. As a result, it represents 5% of the total token supply. Access to the Santos token will require users to go through the KYC procedure.
Know Your Customer procedures is a critical step as with it the trading platform will explore ways to align with regulations at all levels. The entire Santos FC list will have to be presented in two different pools. As we have already mentioned, the first pool is the BNB pool which will pay 80% of the estimated reward. It rakes up to 1.5 million Santos tokens.
While BUSD pool with a 20% reward allocation. The trading platform has confirmed that a user can wager the token at a time. For example, the user cannot invest the same amount of BNB in two different pools at the same time. However, the user can allocate 50% of their BNB to pool A and the remaining to Pool B.
The authority wanted to promote flexibility in its procedure. That is why Binance has allowed the users to leverage to withdraw their funds at any time. Moreover, they can do it without any delay. This immediate participation in any other available pool makes it efficient.
Binance has democratized the sports tokens
Binance has made one of the differences by helping various sports teams. They have assisted various sports teams around the world. What they aim to do is help the teams raise capital through crowdfunding. Moreover, the majority of the tokens that Binance has launched are the AC Milan FC fan token, Manchester City FC fan token, and FC Barcelona token.
Introducing Brazilian football club @SantosFC, our 1st #BinanceFanToken partner in LATAM. đź–¤
— Binance Fan Token (@BinanceFanToken) November 26, 2021
Get your $SANTOS Fan Token ➡️ https://t.co/W01B6sjYVt https://t.co/C2k4ThxHVt
These are the tokens that Chili’s blockchain has built. Moreover, the BSC backed Binance exchange. Currently, it is now used by the new generation of fan tokens launched. However, securing funds in one of the decentralized manners has left many options to the club. The club fundraises using such a token. In this way, they tend to connect with their fans around the world.
By holding such tokens around their system, fans can easily participate in restricted aspects of club governance. So, in other words, it may even include the selection of shirts for players. The reader around the sports club fan tokens has also conformed to a global reader. Generally, it surrounds digital collectibles or non-fungible tokens.
By holding such a token, the user will legitimately become an integral part of the club. Moreover, it looks forward to enhancing the economic benefits.
What has the CEO said?
About the launch of the Santos token, the Binance CEO, and co-founder has laid down some positive stances. He has said that it represents a “powerful new way for fans to express their support and love for their favorite teams”. He further claimed that
“Receiving Santos on our platform is an important milestone, as the club is one of the most traditional in Brazil – a country where football is an important part of the national identity.”
Changpeng Zhao
About the entry into Latin culture, the CEO has claimed that Binance will promote amazing activities. He said, “Binance will promote amazing activities and new engagement opportunities for fans across the continent who are ready to venture into the world of fan tokens.”
Ending note
With the help of Binance’s fan token platform, the fans of Santos FC can now collect and use NFTs. They can participate in the exclusive polls as well as unlock badges. Moreover, they have a reward-based system that will enhance engagement as well.
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