Binance Launchpad, the exclusive token launch platform of Binance that helps transformative blockchain startups raise funding to develop their products and drive user adoption, has completed the sale of Elrond (ERD) tokens. This is the sixth token sale of Binance Launchpad this year and the third token sale under the new lottery rules.
The token sale was conducted through a single session where participants purchased Elrond (ERD) tokens using Binance Coin (BNB). In this session, all 5 billion ERD tokens were sold to Launchpad participants who drew and claimed winning lottery tickets.
The timeline below provides an overview of how the Elrond (ERD) token sale was conducted:
July 1, 2019 00:00 (UTC): Binance Launchpad ended the 9-day period for recording BNB balances at random times.
July 1, 2019 06:00 (UTC): The ticket claim process opened for all eligible users for a 24-hour period. Users could also sign the Token Purchase Agreement during this time.
July 2, 2019 06:00 (UTC): The ticket claim process closed. 40,462 users participated in the lottery claiming a total number of 97,817 tickets. Binance Launchpad began the lottery draw.
July 2, 2019 08:00 (UTC): Binance Launchpad announced that there are 10,833 winning tickets, held by 10,496 total winners. That puts the percentage of winning tickets at 11.07%, among all 97,817 tickets claimed. Lottery winners will get 461,538.46 ERD tokens per winning ticket. The winners’ BNB balances will be deducted based on their number of winning tickets within 24 hours. If you won ticket(s) in the lottery, please ensure that you have sufficient BNB in your account.
Elrond is a sharding-based public blockchain network that has recently raised investments from Binance Labs, Electric Capital, NGC, Maven11, and Authorito Capital, among others. Sharding is a well-known concept for horizontal partitioning of databases, and several firms, including Elrond, are pushing the boundaries of applying sharding to public blockchains as a means to increase their throughput capacity. Elrond has developed a bleeding-edge form of state sharding, known as “Adaptive State Sharding,” which enables the network to rival centralized cloud networks without sacrificing the security and decentralization advantages of blockchains.
For more information about Elrond (ERD) tokens, read this comprehensive Elrond research paper provided by Binance Research on the project.
* Users from the following countries are not able to participate in the Elrond token sale on the Binance Launchpad platform: Afghanistan, Albania, Angola, Azerbaijan, Bahamas, Belarus, Bosnia & Herzegovina, Botswana, Burundi, Cambodia, Cameroon, Central African Republic, Chad, Cuba, Côte d'Ivoire, Democratic Republic of Congo, Eritrea, Ethiopia, Ghana, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Laos, Lebanon, Liberia, Libya, Macedonia, Madagascar, Mozambique, Myanmar, Nicaragua, North Korea, Pakistan, Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tajikistan, Trinidad and Tobago, Tunisia, Turkmenistan, Uganda, United States of America (including its territories and dependencies, any state of the United States and the District of Columbia), Uzbekistan, Vanuatu, Venezuela, Yemen, 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.