By
Svetlana Soroka
July 2nd, 2024
As over 35 million community members await the listing, the Telegram-based coin has provided multiple options for members to manage their NOT tokens.
Notcoin, a Telegram-based game, has sparked interest among crypto enthusiasts as its airdrop claim has opened, allowing players to stake their tokens. This move came ahead of the much anticipated official listing on several crypto exchanges starting from May 16. Players within the Telegram-based game token now have the opportunity to decide what to do with their Notcoin (NOT) tokens, which are being awarded at a conversion rate of 1,000 to 1. This means that if a player mined 100,000 in-game coins, they would be eligible to claim 100 NOT tokens on The Open Network (TON).
Staking and Withdrawal Options Fuel Investor Appetite
As over 35 million community members await the listing, the Telegram-based coin has provided multiple options for members to manage their NOT tokens. Players can choose to deposit their tokens on crypto exchanges like Binance, OKX, or ByBit; they can also decide to go to the wallet app on Telegram. The developer behind the token, however, made it known that the deposit will be temporarily paused on Wednesday for the upcoming listing.
More so, in an official post by Telegram, they have also made it known to the players that they can stake their tokens to earn a higher status level within the ecosystem that will give them premium access to better conditions and exclusive projects. Not only that, participants will be allowed to withdraw their NOT token to a personal wallet.
Exchanges Roll Out Staking Rewards Ahead of Notcoin Debut
The staking rewards campaign launched by crypto exchanges such as Binance and OKX, which offer a share of the Notcoin tokens to their users, has amassed lots of buzz. The exchanges will distribute over 4 billion NOT tokens, accounting for more than 4% of the total supply.
Binance had 3 billion NOT tokens set aside for its Launchpool campaign, to which platform members have responded with much enthusiasm. They have staked a combined $13.7 billion in Binance Coin (BNB) and the FDUSD stablecoin, and towards the end of Monday, the amount was rising above $14 billion.
A post on X by BMS, a crypto researcher and DeFi analyst with over 150 thousand followers, revealed that Notcoin had broken the Portal’s record as the best-performing project on the Binance launchpad. He further stated that $16 million in BNB was staked for Portal, another digital gaming platform, while $18 million is currently being staked for NOT.
Notcoin Broke $portal's Record as the best performing project on binance launchpad.
16M $BNB was staked for $portal
18M $BNB is currently being staked for $NotSomething is cooking…!
— BMS (@bloomstarbms) May 14, 2024
Another crypto enthusiast and airdrop hunter, Chikwendu Moses, who has been closely following the token’s progress, commented on BMS’s post. He predicted that Notcoin could hit $3 upon listing.
The level of staking interest that NOT has gathered in its launchpool is similar to that of successful crypto projects. If this frenzy continues, the project can amass billions of dollars in crypto market capitalization in no time, which would have a ripple effect on its price.