Binance will conduct a token sale for the first time since February
Binance will conduct a token sale for Cartesi (CTSI).
This is the first Binance Launchpad sale since February..
The exchange is trying to revive its IEO model in the face of market uncertainty.
International consortium of news organizations developing transparency standards.
Binance Announces Token Sale for Cartesi Project, Resuming Activity After Recent Quiet.
Binance Resumes Regular Coin Sales After March Lull – Exchange Announced New Binance Launchpad Today.
The Cartesi Project (CTSI) will conduct its token sale via Binance Launchpad. As in previous cases, participants in the event will be selected through a lottery system. The number of seats that participants can take will depend on the amount of BNB on their balances.
The balance snapshot is held from April 14 to April 21, and the average amount of BNB held by potential participants during this period will determine how many places each applicant will receive..
$ BNB balance snapshots are now ongoing.
You can check your eligibility and average holdings on the @cartesiproject #Binance Launchpad page: https: //t.co/8rDm9445Mg https://t.co/yKtV7P6bir
– Binance (@binance) April 14, 2020
The most recent token sale via Binance Launchpad was conducted by the WazirX project. Binance’s activity in this field has dropped recently due to low participant returns this year.
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Earlier this month, Changpeng CEO Zhao announced that Binance Launchpad will resume selling new tokens for the foreseeable future..
The resumption of token sales can signal that the exchange is returning to its usual mode. Recently, there was a lot of talk and controversy around the site. So, for example, at the end of last month, Binance made a splash by announcing that it no longer supports FTX credit tokens. Binance found tokens that move according to pegs (like ETH or EOS) too risky. The reason for the exclusion from the list was “user protection”, but the move caused widespread outrage. That said, delisting has become a great opportunity for other exchanges to compete with Binance..
Even around Binance Launchpad itself, there is a lot of criticism. Some people compare the site with an “ICO factory”, and associations with IEO have varying success. Despite the fact that Binance Launchpad projects were tied to the most successful altcoins of 2019, many community members still look at the site with skepticism..
Binance may try to bounce back the IEO model again, but the current market is no longer the same as even in 2019, when there was a frenzy of hype around Binance Launchpad. The popularity of CTSI tokens will probably determine the long-term IEO strategy of the exchange and the level of its potential for further growth..
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