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 WazirX tokens. This is the first token sale of Binance Launchpad this year.
The token sale was conducted through a single session where participants purchased WazirX (WRX) tokens using BNB. In this session, all 100,000,000 WRX tokens were sold to Launchpad participants who drew and claimed winning lottery tickets.
The timeline below provides an overview of how the WazirX token sale was conducted:
February 03, 2020, 00:00 (UTC): Binance Launchpad ended the 30-day period for recording BNB balances on an hourly basis each day.
February 03, 2020, 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.
February 04, 2020, 06:00 (UTC): The ticket claim process closed. 20,651 users participated in the lottery claiming a total number of 136,801 tickets. Binance Launchpad began the lottery draw.
February 04, 2020, 08:00 (UTC): Binance Launchpad announced that there are 10,000 winning tickets, held by 9,033 total winners. That puts the percentage of winning participants at 43.74% of all 20,651 users and the percentage of winning tickets at 7.31% of all 136,801 tickets claimed. 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.
WazirX is India's most trusted bitcoin exchange with the world’s first auto-matching P2P (peer-to-peer) engine. WazirX is focused on solving the fiat-to-cryptocurrency conversion problem and simplifying the process of depositing and withdrawing fiat. In India, over 200,000 local users are able to deposit and withdraw cryptocurrencies, as well as use WazirX’s unique peer-to-peer solution to cash in and cash out cryptocurrency to Indian rupees with ease and speed.
For more information about WazirX tokens, read this comprehensive WazirX research paper provided by Binance Research on the project.