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 Band Protocol tokens. This is the ninth token sale of Binance Launchpad this year and the sixth token sale under the lottery rules.
The token sale was conducted through a single session where participants purchased Band Protocol (BAND) tokens using Binance Coin (BNB). In this session, all 12,368,200 BAND tokens were sold to Launchpad participants who drew and claimed winning lottery tickets. In addition, 631,800 BAND tokens will be split and airdropped to all Launchpad participants that do not have a winning ticket.
The timeline below provides an overview of how the Band Protocol (BAND) token sale was conducted:
September 16, 2019, 00:00 (UTC): Binance Launchpad ended the 30-day period for recording BNB balances on an hourly basis each day.
September 16, 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.
September 17, 2019, 06:00 (UTC): The ticket claim process closed. 35,579 users participated in the lottery claiming a total number of 206,813 tickets. Binance Launchpad began the lottery draw.
September 17, 2019, 08:00 (UTC): Binance Launchpad announced that there are 19,500 winning tickets, held by 16,321 total winners. That puts the percentage of winning participants at 45.87% of all 35,579 users and the percentage of winning tickets at 9.43% of all 206,813 tickets claimed. Lottery winners will get 634.25 BAND 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.
Binance Launchpad will also airdrop a total of 631,800 BAND to the 19,258 participants who did not hold any winning tickets. We will distribute 7.61177307 BAND for each of the 19,258 tickets held by those who did not win in the lottery.
Band Protocol aims to become the most secure and scalable decentralized world’s database that any decentralized applications (dApps) can rely on for trusted data. Developers and companies with dApps using Band Protocol consume data via its public smart contract data points rather than through centralized oracles that are external to the blockchain. This allows dApps to leverage existing data on the internet without compromising security, bridging the use cases between Web 2.0 and 3.0.
“We are pleased that Band Protocol has joined the ranks of successful projects at the Binance Launchpad. Our community appreciated the project’s potential, and we hope that the launch on Binance will open the gate for the project plans implementation and will contribute to the overall development of the cryptocurrency industry,” said Binance CEO CZ (Changpeng Zhao).
For more information about BAND tokens, read this comprehensive Band Protocol research paper provided by Binance Research on the project.