After the success of previous ICOs on Binance Launchpad, a new ICO date is announced by Binance. The name of the new ICO is Matic Network (MATIC) which will start on 24 April. According to CZ , the ICO is a fair enough and everyone will get a chance (conditions apply).
Binance launchpad conducted three ICO in the year 2019 and all of them are sold in minutes. After seeing the enthusiasm and interest of users Binance announce a new lottery system for the next project.
To Eligible for the sale of Matic Network users must hold BNB (Binance Coin) for at least 20-days. The minimum eligibility criteria reduced to 50 BNB as per community demand. Initially, users need 100 BNB to participate in ICO.
What is Matic Network
- Matic Network is Level-2 Blockchain Scaling project
- Proof-of-Stake and Plasma technology is used to secure the network
- Matic launched its first testnet in September and has an will be ready to launch mainnet
- Matic will soon launch an extremely user-friendly Plasma wallet with native WalletConnect support to interact trustlessly with dApps and services across devices.
- !0,000 TPS (Transactions Per Second) is successfully tested on the testnet.
- Launchpad Session Time: 2019/04/24 08:00 AM (UTC) to 2019/04/26 2:00 PM (UTC)
- Token Name: Matic Token (MATIC)
- Total Token Supply: 10,000,000,000 MATIC
- Total Tokens Allocated to Binance Launchpad: 1,900,000,000 MATIC (19% of total token supply)
- Public Token Sale Price: 1 MATIC = 0.00263 USD (price in BNB will be determined 1 day prior to the lottery date)
- Allocation Per Lottery Ticket: 300 USD (Max 5 lottery ticket per user)
Whitepaper: Matic Network
Users must buy BNB coin or deposit BNB on Binance account before 5 April to eligible for the ICO. After 5 April onwards daily BNB balances are recorded for next 20 days. Final BNB balances in user accounts are recorded to determine eligibility to claim lottery tickets on 24 April.
Users can claim lottery tickets in the next 24-hours. Winning tickets are announced and the respective BNB will be deducted the winning users’ accounts within 24 hours. You must ensure that you have sufficient amount of BNB in your account for deduction. Users are bound to buy tokens of 300 USD per ticket. KYC is corpulsary to participate in the ICO.
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