in bitcoin After the recent rise cryptocurrency stock market Binance started to focus on launchpads.
Binance’s latest launchpad, Space ID, which expired today morning, received more than 8.4 million BNB tokens from 99,000 holders over a 48-hour period starting early Tuesday.
Binance Launchpad Receives Over $2.8 Billion BNB Commitment for Space ID Tokens
That means over $2.85 billion in commitments for BNB at current market prices.
However, not all of this money will be transferred to Space ID’s ID tokens, as the project’s funding cap is a relatively low $2.5 million. These tokens were offered at a rate of 0.00007412 BNB per 1 ID, with a total of 100 million IDs offered.
The final distribution will be calculated based on the number of BNB commitments and the total number of owners participating.
Space ID is a Web3 domain management that allows users to trade, register and manage crypto-based domains. ID can be used as a management token on the platform.
Binance Launchpad uses a lottery system for token distribution. When a new initial exchange offer (IEO) is announced, a snapshot of potential investors’ bnb holdings is taken over a specified period of time, which varies by sale.
After the BNB holding period, a claim ticket button will appear for 24 hours to users who need to confirm their lottery tickets, after which the lottery will start and the winners will automatically allow users to become participants of the token offer in exchange for BNB tokens.
Previous Binance launches have provided good opportunities for investors. This aroused great excitement and interest among the participants.
*Not investment advice.
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