{"id":13146,"date":"2019-03-25T00:00:00","date_gmt":"2019-03-25T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2019\/03\/25\/binance-bnb-new-token-sale-format-launchpad-platform\/"},"modified":"2019-03-25T00:00:00","modified_gmt":"2019-03-25T00:00:00","slug":"binance-bnb-new-token-sale-format-launchpad-platform","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/binance-bnb-new-token-sale-format-launchpad-platform\/","title":{"rendered":"Binance [BNB] Announces a New Token Sale Format on Its Launchpad Platform"},"content":{"rendered":"
Binance is moving on to a new token sale format for token issuance on its Binance<\/a><\/strong> Launchpad platform. Following an increasing number of unhappy customers missing out on the highly demanded tokens launched through the Launchpad, Binance CEO promised that they will be shifting to a new and relatively fairer format of decided who gets to land the coveted tokens.<\/p>\n On Sunday 24th, March, Binance announced<\/a><\/strong> the new format that will integrate a lottery system as opposed to the current first-come-first-served format. The announcement stated that,<\/p>\n \u201cIn a fast-changing world, we listen, learn and adapt. We will use a new lottery format for the next project on Binance Launchpad.\u201d<\/em><\/p>\n The new lottery format is geared towards rewarding Binance Coin<\/a><\/strong> [BNB] hodlers as opposed to those who only purchase BNB to participate in the token sales. According to the new lottery format, the more BNB held by a user over the 20 days preceding the day of the lottery, the more ticket entries the user will be awarded<\/strong>. The maximum is five tickets for a user who has maintained a balance of more than 500 BNB during that period.<\/p>\n The least amount of BNB a participant will be required to have held within the 20 days preceding the lottery day is 100 BNB. Binance states that the \u201clottery draw will be done via a transparent, randomized system with a random selection of lottery tickets based on tail digits.\u201d<\/em><\/strong><\/p>\n <\/a><\/p>\n The market responded positively to the news as most prospective investors rushed in to purchase BNB for the upcoming token sale. The price of Binance Coin rallied by 15% from $15.02 right before the announcement to an intraday maximum of $17.37 according to data from Coinmarketcap. The price receded following this rally and is now trading at $16.90.<\/p>\n The launch of the new token sale issuance model was necessitated by the fact that despite the successful launches in the previous token sales on the Launchpad, there was a growing number of investors that was missing out on the token sale.<\/p>\n