Higher Chance, Lower Reward: Binance Changes Its Launchpad Lottery Rules (Again)
The next Binance Launchpad initial exchange offering was announced hours ago, and the overall requirements and allocations have 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 allocation of each winning ticket.
Binance has just announced its latest Initial Exchange Offering to be completed on its Launchpad platform. The project is called WINk.
WINk introduces a gaming platform which is intended to allow users to play, socialize, and stake funds across multiple blockchain ecosystems. It uses the WIN token as its native cryptocurrency.
Among the highlights of the project are a robust set of developer tools and APIs which enable teams to easily integrate their projects on the platform and create unique gaming dApps. Moreover, there’s an investment and strategic partnership with TRON, as well as a development team consisting of renowned industry specialists.
The IEO’s hard cap is set to $6 million and will allocate 5% of the total 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 this IEO are substantially different from the others. For example, the USD amount that each winning ticket holder will be able to invest has been reduced dramatically. For the previous project, Elrond, for example, each ticket holder could invest $300. With the new project, this has been reduced to $30.
As CryptoPotato reported, Binance also changed the minimum BNB holding period as well as the overall ticket allocation associated with one’s holdings.
Users can now receive a grand total of 25 tickets for holding more than 250 BNB on average during the seven days preceding the IEO.
In previous IEOs, the maximum number of tickets that a user could receive was 5, and he or she had to hold over 500 BNB on average, which is a substantial difference.
In other words, Binance has significantly increased the number of people capable of winning in the upcoming IEOs in exchange for lowering each individual’s investment (and potential profit).