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    Home » Crypto News » WINk IEO Starts Trading on Binance, Generating 800% ROI

    WINk IEO Starts Trading on Binance, Generating 800% ROI

    Author: George Georgiev

    Last Updated Nov 13, 2019 @ 14:08

    The latest IEO held on Binance Launchpad was also a profitable one, despite the concerns of many that the new format would decrease investors’ returns. The WIN token began trading at 0.00000009 BTC while its IEO price was 0.00000001 BTC. 

    800% ROI For Binance’s Latest IEO

    The latest Initial Exchange Offering (IEO) held on Binance Launchpad was a blockchain-based gaming platform called WINk. Its associated token, WIN, began trading at 0.00000009 BTC, while the price during the IEO was 0.00000001 BTC. This gave investors a nice return of 800% if they managed to sell it quickly enough at the discovery price. 

    At the time of this writing, however, the price of WIN has dropped to about 0.0000005 BTC, which is still a nice return, given that there’s no real effort put into it. 

    The main downside of those who decide to participate in these IEOs is that they have to hold Binance Coin over a specified period of time. In the case of the latest event, it was seven days. Hence, if the price of BNB drops below the potential returns of the IEO itself, the investors could end up losing money, especially if they don’t receive any winning tickets. 

    Over the past 7 days, the price of BNB dropped by about 5%. Hence, if an investor didn’t receive any winning tickets, that would have been his or her realized loss. 

    BNB/USD. Source: CoinGecko.

    An Increased Amount of Winners, Smaller Returns

    In an official announcement, Binance revealed that the total number of participants in the WINk IEO was 43,604. They had bought a total of 837,808 tickets, out of which 200,000 were winning. This puts the percentage of the tickets which were winners at 23.87%. 

    To put things in perspective, the previous IEO, Elrond (ERD), only allocated 10,833 winning tickets, representing 11.07% of all tickets – less than half as many.

    However, ERD saw a staggering price increase of around 30x, which is substantially more than that of WIN. 

    On the other hand, the new format which allocates more tickets but allows for a smaller investment is supposedly better for average and smaller investors who can’t afford to hold upwards of 250 BNB over a significant period of time.

    It will be interesting to see whether Binance will stick to its new format. If things remain as they are, for the next project users will have to hold BNB for 15 days on average in order to qualify and receive tickets. This period will increase to 30 days for the project after that. 

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    Read more on: Binance Binance Launchpad IEO WINk

    About The Author

    George Georgiev View more posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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