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Introducing the Elrond (ERD) Token Sale on Binance Launchpad
Binance
2019-06-20 10:35

Fellow Binancians,

Binance is excited to announce the next project on Binance Launchpad - Elrond (ERD). The Elrond token sale will follow a lottery format, with the recording of user BNB balances starting from 2019/06/22 00:00 AM (UTC).

We have made one change to the lottery rules for this session:

  • We will now calculate the average daily BNB holding amount on each account over the holding period. BNB balances will be recorded at a random time each day, over the 9-day period.

Please ensure that you follow the timeline further down below carefully if you wish to participate.

Token Sale Details:

  • Launchpad Ticket Claim Time: 2019/07/01 06:00 AM (UTC) to 2019/07/02 06:00 AM (UTC).
  • Token Name: Elrond (ERD)
  • Hard Cap: 3,250,000 USD
  • Total Token Supply: 20,000,000,000 ERD
  • Total Tokens Allocated to Binance Launchpad: 5,000,000,000 ERD (25% of Total Token Supply)
  • Public Sale Token Price: 1 ERD = 0.00065 USD (price in BNB will be determined prior to the lottery draw date)
  • Token Sale Format: Lottery
  • Max Number of Winning Lottery Tickets: 10,833
  • Allocation Per Winning Ticket: 300 USD (461,538.46 ERD)
  • Supported Sessions: BNB only
  • Elrond (ERD) will be issued on Binance Chain as a BEP2 asset.

Lottery Timeline:

  • 2019/06/22 00:00 AM (UTC) to 2019/07/01 00:00 AM (UTC): During this period, user BNB balances will be recorded at a random time each day over a 9-day period. Your final average daily BNB balance over these 9 days will determine the number of tickets that you will able to claim. Please note that BNB stored in your margin account will not count towards your BNB holdings calculation.
  • 2019/07/01 06:00 AM (UTC): Ticket claim will open at this time for all eligible users for a 24 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to completing the ticket claim. Please note users will only be able to claim tickets once.
  • 2019/07/02 06:00 AM (UTC): Ticket claim closes and the lottery draw begins.
  • 2019/07/02 08:00 AM (UTC): Winning tickets are announced and the respective BNB will be deducted from the winning users’ accounts. Please ensure you have sufficient BNB in your account to be deducted within 24 hours if you have a winning ticket.

Average BNB Holdings Calculation

An example of the average BNB holdings calculation for each user is below.

Snapshot #

BNB Balance (recorded at a random time each day)

Snapshot 1

100 BNB

Snapshot 2

100 BNB

Snapshot 3

100 BNB

Snapshot 4

100 BNB

Snapshot 5

50 BNB

Snapshot 6

50 BNB

Snapshot 7

50 BNB

Snapshot 8

50 BNB

Snapshot 9

50 BNB

Average BNB Calculation

(100 + 100 + 100 + 100 + 50 + 50 + 50 + 50
+ 50) / 9 = 72.2 BNB

Total Eligible Ticket(s)

1 Ticket

 

Lottery Ticket Allocation

Users will be able to claim up to a maximum of 5 lottery tickets based on their daily average BNB holdings over the 9 days (represented by X below) leading up to the lottery draw date.

For example, 50 ≤  X < 200 means that your average BNB balance over the entire 9-day period is kept at 50 BNB or more, but does not exceed 200 BNB.

9-Day Average BNB balance (X)

No. of Lottery Tickets

50 ≤  X < 200

1

200 ≤  X < 300

2

300 ≤  X < 400

3

400 ≤  X < 500

4

X ≥ 500

5

 

To learn more about the Elrond (ERD) project, read our in-depth Binance Research Report here.

Elrond Project Links:

Website: https://Elrond.com

Whitepaper: Elrond Protocol

Telegram: https://t.me/ElrondNetwork

Reminder: Users need to complete their account verification and also be from an accepted jurisdiction to participate in this token sale.

* Users from the following countries will not be able to participate in token sales 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

Risk warning:

All investments are subject to high market risk. Please make your investments very cautiously. Binance will choose high-quality projects, but will not be responsible for any investment losses.

Thanks for your support!

Binance Team

2019/06/20

 

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