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Binance Launchpad Announces Injective Protocol Sale Results

2020-10-20

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  Injective Protocol Tokens. 

Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized cross-chain derivatives trading and borderless DeFi. The platform supports a diverse array of derivative products such as CFDs, perpetual swaps, and more. The tech stack on the protocol brings an order of magnitude speed-up by scaling trade execution and settlement on layer-2 all while being fully decentralized. Injective’s fully decentralized nature uniquely allows individuals to permissionlessly create and trade derivatives markets.

The token sale was conducted through a single session where participants purchased INJ tokens using BNB

In this session, all 9,000,000 INJ tokens were sold to Launchpad participants who drew and claimed winning lottery tickets.

The timeline below provides an overview of how the Injective Protocol Tokens was conducted: 

October 19, 2020, 00:00 (UTC): Binance Launchpad ended the 6-day period for recording BNB balances on an hourly basis each day. 

October 19, 2020, 6:00 AM (UTC): The ticket claim process opened for all eligible users for a 24-hour period. Users were also required to sign the Token Purchase Agreement during this time.

October 20, 2020, 06:00 AM (UTC): The ticket claim process closed. 22,175 users participated in the lottery claiming a total number of 157,870 tickets. Binance Launchpad began the lottery draw.

October 20, 2020, 08:00 AM (UTC): Binance Launchpad announced that there are 18,000  winning tickets, held by 16,074 total winners. That puts the percentage of winning participants at 72.49% of all 22,175 users and the percentage of winning tickets at 11.40% of all 157,870 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 spot account.