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    Home » Crypto News » Binance Just Announced Its 4th Launchpad Sale for 2019 And The Format Is Changed

    Binance Just Announced Its 4th Launchpad Sale for 2019 And The Format Is Changed

    Author: Felix Mollen

    Last Updated Apr 1, 2019 @ 13:43

    Binance has announced the fourth project to be held on its Launchpad fundraising platform in 2019. So far, all of the previously held ones (BitTorrent, Fetch.AI, Celer Network) turned out to be massively successful, raising their designated hard caps in a matter of minutes and sometimes seconds.

    However, this time the format of the sale will be different, as the leading cryptocurrency exchange took measures to handle the incredibly high participation demand for the Binance Launchpad.

    Binance Launchpad Recent Token Sales

    Name Status Date
    sandbox_logo Sandbox finished13/08/20
    Cartesilogo2 Cartesi finished21/04/20
    WazirX logo WazirX finished03/02/20
    Matic logo MATIC Network finished24/04/19
    celer network logo Celer Network finished19/03/19
    KAVA logo Kava finished23/10/19
    Band Protocol logo Band Protocol finished16/09/19

    About Matic Network

    The Matic Network is designed to be a layer 2 scaling solution which uses side chains for off-chain computation, while also ensuring asset security by using the Plasma framework and Proof-of-Stake (PoS) consensus algorithm.

    It’s worth noting that Matic Network has also been a significant contributor to Ethereum’s ecosystem and has done a lot of work on the implementation of Plasma MVP (Minimum Viable Plasma).

    The aim of the project is to become the go-to platform where developers will be able to deploy and to run their decentralized applications.

    #Binance Launchpad announces @maticnetwork as next project under its new token launch formathttp://t.co/W2sr608fO9

    — Binance (@binance) April 1, 2019

    Binance Launchpad New Lottery Format

    Regarding the token sale, it’s going to take place on April 24th. Binance Launchpad will allocate a total of 19 percent of the entire token supply, which is 1,900,000,000 MATIC tokens.

    The price during the public sale is set to $0.00263.

    More interesting, however, is the fact that the Matic sale will happen using Binance Launchpad’s new lottery model. As reported by Cryptopotato, Binance decided to change the format to a lottery one in order to cope with the huge participation demand.

    So, in the new format, instead of trying to buy MATIC tokens directly, users will have to purchase Lottery tickets, which will then be selected randomly, allowing their holders to buy a predetermined amount of MATIC tokens per ticket.

    The allocations per winning tickets for this sale is $300 or 114,068.44 MATIC tokens. Users won’t be able to buy more than that for one ticket.

    The maximum amount of winning lottery tickets is set to 16,666. There is also a 20-day minimum BNB holding balance requirement. In order to participate in the Matic sale, each person should hold a minimum of 100 BNB tokens for the past 20 days prior to the sale.

    Additionally, the more BNB one holds, the more lottery tickets he’d be able to take advantage of. However, the maximum amount of tickets one can get is limited to 5, in order to allow more people to get in.

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    About The Author

    Felix Mollen View more posts by this author

    Felix got into Bitcoin back in 2014, but his interest quickly expanded to everything blockchain-related. He's particularly excited about real-world applications of blockchain technology. Having worked as a professional content writer for three years before that, Felix transitioned to working on blockchain-centered projects and hasn't looked back ever since.

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