Binance changes the format of cryptoprocta to support equitable distribution


Binance, creating a platform, Launchpad, which gives users the opportunity to directly participate in sales of tokens on a crypto currency exchange, has faced a number of problems. While the initial sales on the platform have gone well, given that projects Tron BitTorrent tokens (BTT), Fetch.Ai a token (FET) and Celer Network token (CELR), managed to collect millions of dollars in a few minutes, many traders were locked on the portal as a Launchpad website was overloaded with purchase orders from all over the world.

The change of the principle of customer service during sales

As noted by Changpeng Zhao, Executive Director Binance, after the sale of the CELR:

“39003 of people willing to buy, only 3129 people got tokens. So 35,000 people are certainly unhappy… some users have problems with caching, others have experienced network latency”.

Now Binance tried to fix these problems. Platform Launchpad will use the lottery system, not the principle “first come — first served” basis. Tickets will be distributed depending on the user BNB balance 20 days prior to the lottery. The more BNB user on the exchange, the more tickets he can get.

Update to the #Binance Launchpad Token Sale Format

— Binance (@binance) March 24, 2019

According to the team, it should promote greater equity of distribution in this ecosystem, as was reported on groups that sought to completely buy up all the coins in the period of sale on Launchpad.

Increased activity from competitors

Competitors Binance also announced the creation of their own platforms like Launchpad, in an attempt to get their piece of the pie IEO.

Huobi Global recently announced the creation of a platform Huobi Prime, calling it “a direct premium offer (DPO)” where users will be able to purchase digital assets that will directly posted on their accounts at Huobi.

Bittrex International exchange, which is registered in Malta, also invaded the industry stock sales, however, canceled the implementation of a token RAID for 11 hours before the start, citing “last minute changes”.

Interestingly, there are rumors that the government is not too happy with the new model of selling tokens, so it is possible that with this method of investing can cause problems, as with ICO.

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Tags: Binance


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