Binance Changes Launchpad Token Sale Format into Lottery
“Additional market participants can see this as an opportunity, and countertrade to even out the fluctuations. ”
Binance Launchpad, as its name implies, is that the organization ’s market launching stage, which most recently concluded a $4 million purchase of Celer Network (CELR) tokens past week. The platform allegedly conducted the Fetch.AI (FET) token sale, which increased $6 million within 22 minutes in February.
Per the statement, the company “may use a new lottery arrangement for another project on Binance Launchpad.
As Cointelegraph recently reported, changes made to Binance’s Application Programming Interface seemingly reveal that the business is focusing on implementing gross trading.
The article also summarizes a lottery ticket method where participants will be able to claim as many as five tickets by holding Binance Coin (BNB) tokens within the 20 days leading up to the lottery, also having 1 ticket each 100 BNB. The market will announce the amount of winning tickets and the quantity of funds which the owner of a winning ticket will get.
Even though Binance admits that the new strategy may cause some changes in BNB trading prior to and after the photo time, its own reports which the side effects must be minimal incorporating:
Last Tuesday, two exchanges, LBank and Bit-Z, overtook Binance on the fixed trade volume cryptocurrency exchange rankings on CoinMarketCap, but research published on March 18 from the Tie suggests a lot of the volume is bogus.
Users will be able to choose the number of tickets they want to use to participate in a specific lottery in the 24 hours before the winners are selected, with the maximum amount according to their BNB holdings within the prior 20 day interval.
Top cryptocurrency market Binance announced major changes to the arrangement of its Launchpad token sale in a post on its own site printed on March 24.
Published at Sun, 24 Mar 2019 16:41:00 +0000