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Introducing the Kava (KAVA) Token Sale on Binance Launchpad
Binance
2019-10-16 09:44

Fellow Binancians,

Binance is excited to announce the next project on Binance Launchpad - Kava (KAVA). The Kava token sale will follow a lottery & airdrop format, with the recording of user BNB balances already having started at 2019/09/23 00:00 AM (UTC).

Binance will record user BNB balances for 30 days from 2019/09/23 00:00 AM (UTC) to 2019/10/23 00:00 AM (UTC). The final BNB holding amount for each user will be determined as the average of the 30 days, but using the Daily Average BNB Balance calculation previously announced here.

KAVA Airdrop Details

For this Launchpad session, a pool of 326,087 KAVA tokens (approx 150,000 USD) will be split and airdropped to all launchpad participants that do not have a winning ticket. 

The amount airdropped to each participant that does not have a winning ticket will be calculated as = (Number of non-winning tickets held by each non-winning participant / Total number of non-winning tickets across all non-winning participants) x Total Airdrop Pool. Please note that if you do have a winning ticket, you will not be eligible for the airdrop. 

Example: User A claimed 3 tickets but did not have a winning ticket. The total amount of tickets across all users that did not have a winning ticket is 400,000 tickets. In this scenario, User A will receive an airdrop of 2.4457 KAVA (326,087 KAVA / 400,000 X 3).

KAVA Token Sale Details: 

  • Token Name: Kava (KAVA)
  • Launchpad Hard Cap: 3,000,000 USD
  • Total Token Supply: 100,000,000 KAVA
  • Total Tokens Allocated to Binance Launchpad: 6,521,739 KAVA (6.52% of Total Token Supply)
  • Public Sale Token Price: 1 KAVA = 0.46 USD (price in BNB will be determined prior to the lottery draw date)
  • Token Sale Format: Lottery & Airdrop
  • Max Number of Winning Lottery Tickets: 15,000
  • Allocation Per Winning Ticket: 200 USD (434.78 KAVA)
  • Total Airdrop Pool: 326,087 KAVA 
  • Supported Sessions: BNB only
  • KAVA will initially be issued as a BEP2 asset on Binance Chain. 

Lottery Timeline:

  • 2019/09/23 00:00 AM (UTC) to 2019/10/23 00:00 AM (UTC): During this period, user BNB balances will be calculated in hourly snapshots for each day over a 30-day period. Your final average daily BNB balance over these 30 days will determine the number of tickets that you will able to claim.
  • 2019/10/23 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 that users will only be able to claim tickets once. 
  • 2019/10/24 06:00 AM (UTC): Ticket claim closes and the lottery draw begins.
  • 2019/10/24 08:00 AM (UTC): Winning tickets are announced and the respective BNB will be deducted from each winning users’ accounts. Please ensure you have sufficient BNB in your spot exchange account to be deducted within 24 hours if you have a winning ticket. Please note that BNB in open orders, margin accounts or lending products will not be eligible to be deducted. 
  • 2019/10/24 08:00 AM (UTC): After this time, we will airdrop KAVA tokens to all participants that did not have a winning ticket. 

Lottery Ticket Allocation

Users will be able to claim up to a maximum of 10 lottery tickets based on their daily average BNB holdings (represented by X below) over the 30-day period leading up to the lottery draw date.

For example, 50 ≤  X < 100 means that your average BNB balance over the entire specified period is kept at 50 BNB or more, but does not exceed 100 BNB. 

Daily Average BNB balance (X)

No. of Lottery Tickets

50 ≤  X < 100

1

100 ≤  X < 150

2

150 ≤  X < 200

3

200 ≤  X < 250

4

250 ≤  X < 300

5

300 ≤  X < 350

6

350 ≤  X < 400

7

400 ≤  X < 450

8

450 ≤  X < 500

9

>=500

10

 

Average BNB Holdings Calculation

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

Day

Average BNB Holdings on each Day

2019/09/23

100 BNB 

…...

…...

2019/10/03

50 BNB 

…...

…...

2019/10/13

100 BNB

…...

…...

2019/10/23

100 BNB

30-Day Average BNB Holdings 

(100 + ... + 50 + ... + 100)/ 30 = 83.3 BNB

Total Eligible Ticket(s)

1 Ticket

 

To learn more about Kava (KAVA), read Binance Research's in-depth report here.

For more details on our 10th Launchpad project Kava, read our blog post: Binance Launchpad To Host The Token Sale of Kava.

Kava Project Links:

Website: https://www.kava.io/

Whitepaper: Kava (KAVA)

Telegram: https://t.me/kavalabs

Twitter: https://twitter.com/kava_labs

Medium: https://medium.com/kava-labs

Please note:

  • The BNB holding period will continue to remain at 30 days for future launchpad projects.

Reminder: Users need to complete their account verification and also be from an eligible 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: 

Belarus, Democratic Republic of Congo,Cuba, Iraq, Iran, North Korea,  Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), 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

2019/10/16

 

Find us on 

Telegram: https://t.me/binanceexchange 

Twitter: https://twitter.com/binance 

Facebook: https://www.facebook.com/binance  

Instagram: https://www.instagram.com/binance  


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