Binance, a Hong Kong cryptocurrency exchange, said it would change the format of the tokensales due to mass criticism of customers of past IEOs. Now the sale of tokens during tokensale will be held in a lottery format.
On March 24, the CEO of Binance, Changpen Zhao, posted on his Twitter account that the exchanger would change the format of the tokensales to a lottery. The changes are since past tokensales on the stock-exchange caused a storm of user discontent.
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Binance Launchpad – lottery tokensales
Yesterday, March 24th, the CEO of the Binance crypto-exchanger, Changpen Zhao, posted a message about changing the format of tokensales on the Binance Launchpad.
"(...) Our new Launchpad is not built from scratch. This is the result of numerous detailed discussions over the weekend, considering all aspects (...)" – CZ Binance, Twitter.
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On the official Binance blog also appeared an article that describes in detail the format of the next IEO. According to published material, the number of lottery tickets for each account will depend on the size of the contribution to BNB 20 days before the tokensale. The choice of winners of the lottery will be held randomly, and each participant will be able to get a maximum of 5 tickets. Each of the lottery tickets will allow its owner to buy a certain number of tokens with the sale. All available amounts are fixed equivalent to BNB tokens.
Binance Exchange decided to change the format of tokensales on the Launchpad platform. Recall that the latest tokensales on the stock-exchange were unsuccessful and many users were left disappointed. For example, the Fetch.Ai tokensale brought the project $ 6 million in 22 seconds, but not everyone could buy coins.
Editor: Pereyidenko Ihor