Binance Launchpad will change the order …
Binance Launchpad Changes Token Sale Order To Benefit Large BNB Holders
Binance’s Initial Exchange Offering (IEO) platform this Sunday announced a campaign change that will increase the chances of large BNB holders.
According to the new rules, “the next token sale on Binance Launchpad will be a lottery, not on a first come, first served basis.” This means that the distribution of tickets for participation in the lottery will be carried out in accordance with the number of BNB tokens in user accounts for the last 20 days..
The maximum number of tickets for one account is 5, which corresponds to 500 BNB. Users with less than 100 BNB ($ 1,650) on their accounts will not be able to receive tickets.
Every day at 03:00 Moscow time, the exchange will record the balances of user accounts. If on one of the days in a twenty-day period the amount of BNB falls below the set value, the user will receive tickets in accordance with the lower level. For example, if a user had 301 BNB for 19 days out of 20, but one day his account balance dropped to 299 BNB, he will be able to claim only 2 tickets.
Binance promises that the lottery will be conducted through a “transparent and randomized system.” In each case, the exchange will announce in advance the maximum number of possible lottery winners and the allocation of tokens due for each winning ticket.
The exchange recognizes that the proposed model carries a number of risks. For example, volatility in the BNB market can increase during the daily fixing of user balances. “The BNB rate will change over a twenty-day period. If it falls, it is likely that this factor will completely block the profit received from the new token. But to do this, initially you need to win the lottery. In addition, a rise in the price of a new token is not guaranteed. It can also drop in price, the company writes, adding that all the risks lie with the users themselves. – We strongly discourage holding BNB for the sole purpose of participating in Binance Launchpad events. If you don’t want to hold BNB otherwise, please don’t. “.
Binance Launchpad Next IEO Announced Within Two Weeks.
Against the background of this news, the BNB rate rose by 10%, continuing the rapid ascent of recent months.
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