The most important cryptocurrency exchange in the market, Binance, announced through its official blog that it would make significant changes to its Binance Launchpad platform.
According to the announcement, the company "will use a new lottery format for the next project in Binance Launchpad." Previously, the system worked on a first-come, first-served basis, leaving many users joining the high-demand sales queues without tokens.
The blog also states that participants can claim up to five tickets depending on the number of Binance tokens (BNB) they have during the 20 days prior to the lottery, with 1 ticket for every 100 BNB. The exchange will announce the number of winning tickets and the amount of funds the owner of a winning ticket will receive.
"For each project, Binance will announce the maximum number of possible winners of lottery tickets and the amount of the allocation corresponding to each winning ticket in advance. For example, 10,000 potential winning tickets, each representing a value of 500 USD in tokens, "says the announcement.
While Binance admits that the new system may cause some fluctuations in BNB's operations before and after the moment of the snapshot, it reports that side effects should be minimal, adding: "Other market participants may see this as an opportunity and compensate to compensate for the fluctuations. "
Unfortunately, not everyone loved the change from the old "first-order system of arrival" to the new "lottery format". Some point out that this new format discriminates against investors with less capital, since, as mentioned above, a minimum balance of 20 days of at least 100 BNB (with an approximate value of $ 1,700 at current BNB prices) is needed. ).
These measures are a consequence of the success of the platform, since the last launched tokens were sold in a matter of seconds.