SFP is a new token from Binance that will be used to power the upcoming decentralized exchange, Binance DEX. SFP is an ERC20 token that will be used to pay for transaction fees on the Binance DEX.
The token will also be used to incentivize users to contribute liquidity to the Binance DEX.
The SFP token sale will begin on June 3, 2019 and will last for three weeks. There is a total supply of 100 million SFP tokens, with 60% of the tokens being sold during the token sale.
The remaining 40% of the tokens will be locked up for use on the Binance DEX.
The SFP token sale will have a hard cap of $10 million and will be open to accredited investors from around the world. The minimum investment amount is $1,000.
Binance plans to list SFP on its main exchange after the conclusion of the token sale. The listing price will be determined by the market demand at that time.
SFP is an important piece of the puzzle for Binance as it looks to launch its decentralized exchange. The token provides a way for users to pay for transaction fees on the exchange and also incentivizes them to contribute liquidity.
The upcoming token sale is a chance for investors to get in on the ground floor of this promising project.