This token sale is an IEO (Initial Exchange Offering). Binance is running IEOs on its Launchpad platform. The special feature of IEOs is that they can be traded within a few hours after the token sale on the respective crypto exchange. You do not have to wait months or even an entire year like ICOs to sell your acquired coins.
There is currently a veritable run on IEOs that strongly reminds of the boom times of the ICOs. IEOs such as Bittorrent (at Binance) or recently TRONAce made several 100% gains in the first few days of trading.
How does an IEO work?
First and foremost, you have to register with the crypto exchange which hosts IEOs, this is completely free. Then you have to go through a verification and recharge your balance on the stock market. The most important crypto exchange for IEOs today is Binance. As soon as a new IEO is announced, you should recharge your balance on the crypto exchange. Most stock exchanges now use a lottery system to decide who gets an allotment, because the demand for IEOs far exceeds available supply. If you've got an allotment, you can sell your coins in just a few hours and make a big profit based on the data from the last few months.
Join Binance for the next IEO
Next Binance IEO: Matic
The Matic IEO will be executed after the already announced lottery system. However, there is a change in the number of tokens required to participate. Interested participants now only need to own at least 50 Binance Coins (BNB). Previously, the limit was still at 100 Binance coins. This change was introduced by Binance due to feedback from the community.
What is Matic?
The Matic Network is a Layer 2 Scaling Solution. This makes it similar to the Bitcoin Lightning Network. Unlike this, however, Matic uses sidechains and the plasma framework for its off-chain calculations.
Matic is based on a decentralized network of proof-of-stake validators and wants to be highly scalable. At the same time, the network should be able to perform 10,000 transactions per second on a single sidechain. With this, Matic wants to be the first choice for developers who want to create secure, decentralized dApps.
Matic token sale details
Token sales begin on April 25, 2019 and end on April 26 at 02:00 UTC on the Binance Launchpad.
Every Binance customer can receive a lottery ticket for every 50 Binance coins they own. The lot cap is five lots. On April 24, 2019, the system will take a final screenshot of the user accounts. This then serves as an evaluation basis for the number of lots per user.
On April 25, at 02:00 UTC, Binance wants to announce the winners. Within 24 hours, the Binance coins will be deducted to pay for the tokens. Each winner lot entitles the owner to purchase approximately 114,000 Matic tokens. That's a value of about $ 300.
Binance has already made several very successful token sales through its launchpad. These include the tokens of Fetch.AI, BitTorrent and Celer.
At the time of writing, a Binance Coin was valued at $ 24.60. The cryptocurrency itself had a market capitalization of about $ 3.4 billion. This puts her in seventh place on the list of largest cryptocurrencies by market capitalization.
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