Higher Chance, Less Reward: Binance Change The Launchpad Lottery Rules (One More Time)
The new Binance Launchpad initial exchange offering was announced hours ago and the overall requirements and allocations have been changed drastically. It’s evident that Binance wants to make sure that more people get their slice of the pie while simultaneously reducing the USD allocations of each winning ticket.
The New Binance Launchpad IEO Is Here: Project WINk
Binance has just announced its latest Initial Exchange Offering to be completed on their Launchpad platform. The project is called WINk.
WINk introduces a gaming platform which is intended to allow users to play, socialize, and to stake across multiple blockchain ecosystems. It uses the WIN token as its native cryptocurrency.
Among the highlights of the project are a robust set of developers tools and APIs which enable teams to integrate their project on the platform easily and to create unique gaming dApps. Moreover, there’s an investment and strategic partnership with TRON, as well as a development team which is consisted of renowned industry specialists.
The launchpad hard cap of the IEO is set to $6 million and it will allocate 5% of all the token supply. This amounts to 49,950,000,000 WIN tokens. Each one will cost $0.0001201 at the time of the sale.
What’s Different This Time?
However, it appears that the overall specifications of the IEO this time are substantially different. For example, the amount of USD that every single winning ticket will be able to invest is reduced dramatically. In the previous project – Elrond, for example, each ticket got to invest $300. Now, with the new project, this is reduced to $30.
However, as Cryptopotato reported, Binance also changed the specifications regarding the minimum BNB holding period and the overall ticket allocation based on your holdings.
As seen above, users can now receive a grand total of 25 tickets for holding more than 250 BNB on average for the 7 days preceding the IEO.
In the previous IEOs, the maximum number of tickets that a user could receive was 5 and he had to hold over 500 BNB on average, which is a substantial difference.
In other words, Binance has made sure to seriously increase the number of people who would be able to win in the upcoming IEOs in exchange for the overall investment (and potentially profit) they can make.
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