Binance Announced WazirX (WRX) Token IEO
The leading cryptocurrency exchange Binance has announced the 12th Launchpad project (IEO) WazirX (WRX) token.
The WazirX token sale will follow the lottery ticket format. The lottery ticket winners are announced on 2 February 2020.
WazirX is one of the leading Indian cryptocurrency exchange that provides advance buy and sell features for cryptocurrencies. WazirX allows its users to trade more than 80 cryptocurrencies such as Bitcoin, Binance Coin (BNB), Ethereum, Litecoin and many more. WazirX exchange also provides a peer-to-peer (P2P) platform for Indian users to deposit and withdrawal INR (Indian Rupee) directly to their banks.
WRX is the native token of WazirX exchange. The WazirX (WRX) token is a BEP2 token built on the Binance Chain. WRX token will be used in the future for trading fee discounts, paying for margin fee, WRX trade mining (users can earn WRX tokens by performing trades), and more. WazirX exchange is acquired by Binance in November 2019.
WazirX (WRX) Token Sale Details
Private Sale
WRX tokens were sold for $0.018 per token. The private sale raised $0.96 million and 5% WRX tokens of total supply are sold in private sale.
Binance Launchpad (IEO)
10% WRX tokens of total supply are sold via the launchpad. A total of $2 million will be raised with a price of $0.02 per token.
WRX Token Sale Eligibility
Users must have KYC verified. Only Binance Coin (BNB) holders get a chance to claim lottery tickets. Users must have at least an average of 50 BNB coin holding over the last 30 days. The BNB balance snapshot was taken from 4 January 2020 until 3 February 2020.
Lottery Ticket Timeline
2020/01/04 00:00 AM (UTC) to 2020/02/03 00:00 AM (UTC): During this period users BNB holding hourly snapshots are taken. In the end Binance will calculate 30 days average BNB coins balance and distribute lotteries according to the amount.
2020/02/03 06:00 AM (UTC): Ticket claiming process starts. Users can claim a lottery ticket for a 24 hour period. Users can ticket lottery only once and need to sign the Token Purchase Agreement at the same time.
2020/02/04 06:00 AM (UTC): Ticket claim closes and lottery draw begins.
2020/02/04 08:00 AM (UTC): Winning tickets are announced and the BNB amount will be deducted from winners accounts. Users make sure that they have enough BNB amounts for the deduction. Please note that BNB in open orders, margin accounts, lending products, sub-accounts, futures accounts, or fiat accounts will not be eligible to be deducted.
Note: Users from the following countries or regions will not be able to participate in token sales on the Binance Launchpad platform:
Belarus, Democratic Republic of Congo, Cuba, Iraq, Iran, Mainland China, North Korea, Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Zimbabwe.
