Binance Launchpad, the exclusive token launch platform of Binance helping transformative blockchain startups raise funding to develop their products aiding in cryptocurrency adoption, has completed the sale of Matic Network (MATIC) tokens. This is the fourth token sale of Binance Launchpad this year and the first token sale under new lottery rules.
The token sale was conducted through a single session where participants purchased MATIC tokens using Binance Coin (BNB). In this session, all 1.9 billion MATIC tokens were sold to Launchpad participants who won in the lottery.
Here’s the timeline of how the sale for MATIC tokens were conducted:
April 24, 2019 0:00 AM (UTC): Binance Launchpad recorded final BNB balances in user accounts and closed the Token Purchase Agreement.
April 24, 2019 8:00 AM (UTC): The ticket claim process opened for all eligible users for a 24-hour period.
April 25, 2019 8:00 AM (UTC): The ticket claim process closed. 13,170 users participated in the lottery claiming a total number of 28,547 tickets. Binance Launchpad began the lottery draw.
April 25, 2019 10:00 AM (UTC): Binance Launchpad announced that there are 16,666 winning tickets, held by 9,443 total winners. That puts the percentage of winning tickets at 58.38%, among all 28,547 tickets claimed. The winners’ BNB balances will be deducted based on their number of winning tickets within 24 hours. If you won the lottery, please ensure that you have sufficient BNB in your account to deduct if you have a winning ticket by April 26, 2019 10:00 AM (UTC).
Matic Network is a Layer 2 scaling solution that achieves scale by utilizing side-chains for off-chain computation, while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. Matic aims to be the de-facto platform on which developers will deploy and run decentralized applications.
For more information about MATIC tokens, read this comprehensive MATIC research paper provided by Binance Research on the project.
*** Users from the following countries will not be able to participate in token sales on the Binance Launchpad platform: Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Cambodia, Canada, Central African Republic, Cote dIvoire, Cuba, Democratic Republic of the Congo, Ethiopia, Guinea, Guinea-Bissau, Iran, Iraq, Kosovo, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, Mainland China, Malaysia, Malawi, Mali, Mozambique, Myanmar (Burma), New Zealand, North Korea, Republic of Macedonia (FYROM), Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tanzania, Thailand, Timor-Leste, Trinidad & Tobago, Tunisia, Turkmenistan, Uganda, United States of America (USA), Uzbekistan, Venezuela, Yemen, and Zimbabwe. This list of excluded countries may be subject to change and may vary from project to project. This post does not constitute investment advice nor should it be misconstrued as such. Certain information set forth in this post contains forward-looking statements and are not guarantees of future actions by Binance or any of its affiliates. All investments are subject to high market risk. Please be cautious when making your investments. While Binance Launchpad exerts utmost care in choosing and supporting transformative blockchain projects, we will not be responsible for any investment losses.