According to the report, the IEO (Initial Exchange Offering) of the Band Token sale will occur in a lottery & airdrop format where users BNB balance tracking is already started by Binance for the lottery at 2019/08/17 00:00 AM (UTC).
Basically, the Binance exchange provides some rules to the users in order to participate in the token sale of any launchpad project. Here users need to hold some specific amount of BNB coins in their binance exchange wallet for some specific provided time by which they got some tickets that help them to get in the lucky draw held by binance to get the tokens from the token sale.
BAND Token Sale Details:
- Token Name: Band (BAND)
- Launchpad Hard Cap: 5,850,000 USD
- Total Token Supply: 100,000,000 BAND
- Total Tokens Allocated to Binance Launchpad: 12,368,200 BAND (12.37% of Total Token Supply)
- Public Sale Token Price: 1 BAND = 0.473 USD (price in BNB will be determined prior to the lottery draw date)
- Token Sale Format: Lottery & Airdrop
- Max Number of Winning Lottery Tickets: 19,500
- Allocation Per Winning Ticket: 300 USD (634.25 BAND)
- Total Airdrop Pool: 631,800 BAND
- Supported Sessions: BNB only
- BAND will initially be issued as an ERC-20 asset.
Users need to hold 50 to 500 BNB in order to get tickets for the lucky draw of the token sale. only a maximum of 10 tickets can be claimed by a user in the 30 days ( 2019/08/17 00:00 AM (UTC) to 2019/09/16 00:00 AM (UTC) ) BNB holding period.
Winning tickets will be announced on 2019/09/17 08:00 AM (UTC) by the Binance on their launchpad and users BNB balanced will be deducted from their accounts and required amount of Band tokens will be deposit in their account accordingly.
This time Binance also doing Airdrop of 631,800 BAND tokens (approx 300,000 USD) Band tokens to those participants who didn’t win in the lucky draw and didn’t able to get tokens.
For more details check binance detailed blog post here.
Band Project Links:
Whitepaper: Band (BAND)
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