$ 29,824.00 1.14%
$ 1,946.77 3.34%
$ 48.18 4.19%
$ 0.083119 1.29%
$ 7.31 3.93%
$ 1.37 3.33%
$ 0.000168 3.96%

Binance coin adapts lottery format for next launchpad sale

binance coin adapts lottery sale for next round

A lottery format is set to facilitate participation in the next project on Binance launchpad. This measure comes as the consequence of numerous complaints from the community regarding the technical problems that were faced during the last three token sales. These lottery tickets would be given out on the basis of the Binance Coins (BNB) possessed by a user.

It was reported by Bitcoinist in the last week, that the CEO of Binance, Mr. Changpeng Zhao, indicated interest in a modified model for carrying out the Launchpad sales, that is expected to provide an incentive to the BNB users to transition to ‘holders.’

It has not been a very long time since he expressed these views which already seem to be taking shape into existence, with Binance launchpad declaring that it is working on a project that is intended to be launched through a lucky draw-based format. This will enable the users to buy tickets for the draw.

The catch in this strategy is that the amount of tickets a user will be given is dependent entirely on the number of BNB coins they have held within twenty days period before the event.

A user will be allowed to claim five lottery tickets at the most, depending on their Binance Coin credit over this period.

Every ticket will signify a particular amount that it as allocated and users who claim the lottery tickets are in fact signing up to take part in the sale in the event that their ticket is drawn.

Users wishing to take part in the lottery must possess BNB amounting to greater than fifteen hundred dollars for at least twenty days.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

Related News

Hot Stories

Here's why attorney Jeremy Hogan believes Ripple lawsuit is nearing 'endgame'
Mastercard backs crypto despite market decline
Terra (LUNA) Rebounded over 1000% in A Day? — Can Investors Expect Any Ray of Hope?
XRP Price Prediction 2022-2030 [After Lawsuit]
The Sandbox Price Prediction 2022-2030: HODL or DUMP?

Follow Us

Industry News

Singapore VC firm gets a $100 million metaverse and Web3 fund
Andreessen Horowitz raises $4.5 billion to back crypto firms
Babel Finance hits a $2b valuation with $80m in funding
The UpLift DAO team joined a closed VIP Discussion with Dr Gavin Wood on what it takes to Build a Better Web3
Mastercard backs crypto despite market decline