Binance had recently announced the third project in 2019 and the fifth in total, to hold its fundraising on Binance Launchpad. The Launchpad has already had four successful sales, the most popular of which were BitTorrent’s fundraising on January 28th, as well as Fetch.AI (FET) on February 25th; both gained 600% and 400% respectively on their price discovery.
Continuing with its goal of hosting one token sale event per month throughout 2019, Binance has announced that the third token-sale will be held on March 19th, featuring Celer Network (CELR).
Celer Network aims to provide quick, easy, and secure off-chain transactions by using its layer-2 scaling platform. The platform goes beyond payment transactions, and it can also be used for dApps, as well as for smart contracts creations and executions.
While multiple platforms offer similar possibilities, such as Ethereum, EOS, and TRON, Celer Network is different because it does it off-chain. By doing so, Celer Network hopes to provide better speed and efficiency. Meanwhile, the platform uses its native token, CELR, for a variety of purposes, such as paying service fees.
As mentioned, CELR token sale will be held on March 19th, starting at 14:00 (UTC), and the coins will only be obtainable by purchasing via Binance’s native cryptocurrency — Binance Coin (BNB). The Launchpad will offer to the public 597,014,925 CELR, for $0.0067 a coin. The minimum purchase amount per individual will be $20 worth of coins, which can be bought via BNB, as mentioned.
The two recent token sales, of BTT and FET, ended in 18 minutes following technical issues and 10 seconds respectively. Hence, if you are planning to participate, better be quick.
Interestingly enough, however, this doesn’t seem to be the first fundraising event for the Celer Network project. Reports show that it also held a private sale last summer, raising as much as $23.5M after selling 15.5% of the total token supply. At the time of the private sale, CELR tokens went for $0.015 a pop, which indicates that the current Launchpad fundraising will be offering them with a discount of around 55%.
Binance Coin has seen a significant increase in price in the last several months. So much so, that the coin managed to grow by over 140% since December 2018. As of writing this, BNB is the seventh largest cryptocurrency by means of market capitalization.
There are likely several reasons for this, such as being the native coin of the world’s largest exchange by volume. Besides, it is rewarding those who use it with benefits, including trading fee discounts. In addition, Binance is burning BNB coins under a schedule which reduces the supply over time.
Another unique use case for this coin is that it is the only cryptocurrency that can be used on Binance Launchpad. In other words, whoever wishes to participate in one of the Launchpad’s token sales can only do it through BNB.