Binance announced its new Launchpad token sale in a post on its blog published on March 24.
New Launchpad Model
- The next Binance Launchpad token launch will happen as a lottery, instead of a first-come-first-served system.
- The number of tickets that can be claimed depends on the amount of BNB you hold over a 20-day period in a Binance account leading up to the day of the lottery.
- Per account can only have maximum 5 tickets.
- KYC verification is still necessary.
In order to claim your ticket, you have to hold over a 20-day period in a Binance account leading up to the day of the lottery.
For each project, Binance will announce the maximum number of potential lottery ticket winners and the allocation amount.
Participants will be given a 24 hour period to select how many lottery tickets they wish to enter, with the maximum number to be based on their BNB holdings over the past 20 days.
After 24 hours, Binance will randomly select and announce the winners.
The respective BNB will be deducted from each winning user’s balance, as soon as they are deemed a winner.
Why is the Model Changed?
Binance Launchpad concluded a $4 million sale of Celer Network (CELR) tokens last week. However, a first-come-first-served system caused some problems for participants. Most people could not even log in the system because of the high demand.
So by their words:
In a fast-changing world, we listen, learn and adapt. We will use a new lottery format for the next project on Binance Launchpad.
In my opinion, the new system looks better than the first-come-first-served as the previous one ( Celer Network sale) caused serious problems for the users.