Binance Launchpad is going to launch their 3rd ICO – CELER NETWORK.
Previous ICOs (Bittorent and Fetch.AI) were perfectly successful.
Now, it is time for Celer Network, The CELR token sale will commence at 2019/03/19 2:00 PM (UTC) and will have one session, accepting BNB only.
Previous ICOs of Binance
ICO price: 1 BTT= 0.00012 USD
All Time High: 1 BTT= $0.00126
ICO price: 1 FET = 0.08670 USD
All Time High: : 1 FET = 0.477471
CELR Token Sale and Economics
Distribution: Within 15 days after token sale ends
Sale Start Time: 2019/03/19 2:00 PM (UTC)
Sale End Time: When hardcap is reached or 2019/03/24 2:00 PM(UTC)
Hard Cap: 4,000,000 USD
Total Token Supply: 10,000,000,000 CELR
Initial Circulating Supply: 20% of Total Token Supply
Seed Sale Allocation: 11.5% of Total Token Supply
Seed Sale Price: 1 CELR = 0.0065 USD
Amount Raised Seed Sale: $7.46 MM
Seed Sale Vesting Period: Vesting over 10 months
Private Sale Token Price: 1 CELR = 0.015 USD
Private Sale Allocation: 15.5% of Total Token Supply
Amount Raised Private Sale: $23.25 MM
Private Sale Vesting Period: Vesting over 3 months
Public Sale Token Price: 0.0067 USD (price in BNB will be determined on the day of the public sale)
Launchpad Allocation: 597,014,925 CELR (6% of Total Token Supply)
Public Sale Vesting Period: No vesting period/ No lockup
Individual Cap: 1,500 USD
Individual Minimum Purchase Amount: 20 USD
Token Governance & Use of Funds
- 70% Technology Development
- 15% Marketing
- 10% Legal
- 5% Business Development and Misc
How to buy Celer Network?
In order to buy CELR Token, you MUST have a Binance Account.
Go this link if you do not have one.
You must complete your KYC verification in order to participate the token sale.
When you complete all, you have to wait the starting day which is 2019/03/19 2:00 PM (UTC).
If you are from the following jurisdictions, you won’t be able to participate to the Token Sale:
Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi,Canada, Central African Republic, Cote dIvoire, Cuba,Democratic Republic of the Congo, Ethiopia,Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Mainland China, Malaysia, Myanmar (Burma), New Zealand, North Korea, Republic of Macedonia (FYROM), Serbia,Somalia, South Sudan, Sri Lanka, Sudan,Syria, Thailand,Trinidad & Tobago, Tunisia, Uganda, Ukraine, United States of America (USA), Venezuela, Yemen, Zimbabwe.
What is Celer Network?
Celer Network is a coherent technology and economic architecture to enable Internet-scale public blockchains through off-chain scaling techniques.
It can scale out to billions of secure and trust-free off-chain transactions per second, and will fully unleash the power of blockchain and decentralized applications.
The Celer Network is a network system layer that applies generalized state channels for off-chain transactions.
How Celer Network Works?
Celer Network designed to serve as an entry point for scalable decentralized applications (dApps) with an user-friendly interface.
With the technology that Celer Network offers, blockchain applications could easily solve their scalibility problem which is a key factor for mass adaption.
Celer Network’s technology architecture is called the cStack, which includes four layers:
cApps: It is an ecosystem that is designed for scaliblity. There is already a working product called “CelerX”. CelerX is an app to show the transaction speed processed on the Celer Network.
cRoute: It is a protocol to transfer programmable value efficiency in off-chain scalling networks. Team declined that it will enable 15x higher throughput compared to other solutions such as Raiden Network and Lightning Network.
cOS: A scalable off-chain dApps that handles the operation, storage and, tracking.
cChannel: A generalized state channel and sidechain suite that supports fast state transitions and maximizes liquidity utilization.
An economy model that provides effective network, stable liquidity and availability.
There are three elements of cEconomy:
Proof of Liquidity Commitment (PoLC)
It is a virtual mining process that provides liquidity for the off-chain ecosystem. When you lock your idle liquidity to a “dumb box” called Collateral Commitment Contract for a period of time, you will earn CELR token as a reward.
Liquidity Backing Auction (LiBA)
LiBA enables off-chain service providers to demand luqidity through “crowd lending”.
Lenders priorities are determined by the interest rate, the amount of supplied liquidity, and the amount of staked CELR token.
State Guardian Network (SGN)
SGN is a special sidechain that guards the states when users are offline. Guardians need to stake their CELR into SGN in order to be a guard and earn service fees.
- cChannel: enhanced generalized state channel capability with more use cases support
- cRoute: initial implementation and testing
- cOS: SDK public v2.0 release, focus on integrated flow of mobile platform and web platform
- cEconomy: PoLC and LiBA security audit, SGN testnet alpha launch
- Community: third-party Apps start to onboard Celer platform
- cChannel: gradual Ethereum mainnet roll out and continued blockchain expansion and integration
- cRoute: test and initial deploy
- cOS: SDK public v3.0 release
- cEconomy: PoLC main net launch
- Community: off-chain service providers start to onboard
- cChannel: cross-chain interoperability
- cRoute: production measurement and optimization
- cOS: SDK public v4.0 release to enhance UX for real-world use cases
- cEconomy: SGN and LiBA main net launch
- Community: continue to grow Celer-enabled application ecosystem with sustainable new app funnel
Celer Network’s Strategic Partnerships
Celer Network has some solid partnerships. Click link to see the full list. I am going to write a few below.
- FBG Capital
- Fenbushi Capital
- SIGNUM Capital
Celer Network Team and Advisors
Mo Dong – Co-Founder
Research and engineer experience on networking protocol design, distributed systems, formal verification and Game Theory to scalability challenges of blockchain systems. Work was published in top conferences, won Internet2 Innovative Application Award and is being adopted by major Internet content and service providers.
Qingkai Liang -Co-Founder
Authored over 15 top-tier papers and invented 5 provably-optimal adversarial resistant routing algorithms that have been successfully applied in the industry (Raytheon BBN Technologies and Bell Labs). Recipient of Best Paper Nominee at IEEE MASCOTS 2017 and Best-in-Session Presentation Award at IEEE INFOCOM 2016 and 2018.
Junda Liu -Co-Founder
First to propose and develop DAG based routing to achieve nanosecond network recovery (1000x improvement over state of art). At Google, he developed a dynamic datacenter topology capable of 1000 terabit/s bisection bandwidth and interconnecting 1 + million nodes. Holds 6 US patents and published numerous papers in top conferences.
Xiaozhou Li – Co-Founder
Enjoys building high-performance and cost-efficient systems. Works have been published at top venues in distributed systems, networking, storage, and data management, and have become core components of widely deployed systems including Barefoot Deep Insight, Google TensorFlow, and Intel DPDK.
Dr. Christos Kozyrakis
Professor of Electrical Engineering and Computer Science at Stanford University, a fellow of the ACM and the IEEE. He is broadly interested in secure and energy-efficient distributed systems.
Dr. Alan Mishchenko
Research Scientist at UC Berkeley since 2002. He specializes in building fast and scalable tools for design automation, and developing computationally efficient methods for logic synthesis and formal verification.
Dr. Shoucheng Zhang
Professor of Physics at Stanford University, a fellow of the American Academy of Arts and Sciences and the US National Academy of Science. He founded Danhua Capital in 2013 and served as the Chairman.
Celer Network will operate in a competitive area where Lightning Network, Raiden Network, Loom Network, Liquidity Network and Trinity Network operate.
Celer Network Community
Pros – Cons
- Short Term Profit (Binance Effect)
With Binance Launchpad, Celer Network has a huge advantage like Bittorent and Fetch ai.
- Strong Team
There is a solid team behind the project which is a key part for being successful.
Celer Network has impressive partnerships such as Pantera, Fenbushi Capital, Waves and FBG Capital.
- Competitive Market
There is a severe competition about off-chain solutions and scalibility.
In my opinion, Celer Network offers a huge advantage for a short term profit.
As we saw before with Bittorent and Fetch.AI, Binance’s involvement definitely affects the hype and the hype brings a good profit in return.
There is a strong competition between Celer Network and it’s competitors and it can affect the long term holding.
On the other hand, in my opinion, with the team and parnerships behind the Celer Network, they can easily overcome the competition.