Binance Announces New Token Sale on its Launchpad, Individual Cap set at $1,500
Investors who enjoyed or missed out on the BitTorrent (BTT) and Fetch (FET) token sales on the Binance Launchpad have constantly asked Changpeng Zhao on when the next token sale will be. One such Twitter user expressed how they will be ready for the next token sale despite missing out on the first two of this year. His tweet can be found below.
Upcoming Celer Network (CELR) Token Sale on Binance Launchpad
It is with the success of BTT and FET token sales that the team at Binance have announced their third token sale of the year on the Binance Launchpad. The new project, known as Celer Network (CELR), will have its token sale on the 19th of March at 2pm (UTC). The token sale will also only accept Binance Coin (BNB). Unlike BitTorrent and Fetch, the Celer Network token sale will have an individual cap of $1,500.
The speculated reason for halving the individual contribution from the $3,000 set for the Fetch token sale, can be that the Binance wants more investors to be included in the crowdfunding event. During the BitTorrent token sale, the individual cap was set at $20,000 and a lot of willing investors were locked out by those who bought the maximum amount. The same case happened during the Fetch token sale.
In the case of the latter, only 2,758 participants were successful out of 19,860 that had managed to place an order on the Binance Launchpad. This figure is 13.88% of willing participants. Perhaps with the new individual cap set at $1,500, the number of successful investors can be double to approximately 5,000 and even more.
More on the CELR Token Sale
The team at Binance gave the following additional information about the CELR token sale.
- Launchpad Session Time: 2019/03/19 2:00 PM (UTC) to 2019/03/24 2:00 PM (UTC)
- Token Name: Celer Token (CELR)
- Total Token Supply: 10,000,000,000 CELR
- Total Tokens Allocated to Binance Launchpad: 597,014,925 CELR
- Public Token Sale Price: 1 CELR = 0.0067 USD (Prices in BNB will be set on the day of the sale)
- Token Sale Format: First come first served basis
- Individual Cap: 1,500 USD Equivalent
- Supported Sessions: BNB only
- Hard cap: $4 Million
About the Celer Network (CELR)
Founded by a team of four PhDs from MIT, Princeton, UC Berkley and UIUC, the Celer Netowork (CELR) enables everyone to quickly build, operate and use highly scalable decentralized applications. High throughput is achieved by offering off-chain scaling techniques and incentive-aligned cryptoeconomics mechanism design. The layer 2 solution by Celer has zero off-chain smart contract transaction fees and has already achieved 10,000x transaction latency reduction. More on this can be found on the project’s website.
What are your thoughts on the new Celer Network token sale on the Binance Launchpad? Will the new cap of $1,500 ensure more investors participate? Please let us know in the comment section below.
[Feature image courtesy of Unsplash.com]
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