Binance LaunchPad Latest Update!

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Why is Binance coin popping off ? The latest binance launchpad
announcement has everything to do with it.It appears Binance has listened to their community, this is what they had to say :
Fellow Binancians,
In a fast-changing world, we listen, learn and adapt. We will use a new lottery format for the next project on Binance Launchpad.
Summary
– The next Binance Launchpad token launch will be conducted as a lottery, instead of a first-come-first-served system.
– The number of tickets you can claim depends on the amount of BNB you hold over a 20-day period in a Binance account leading up to the day of the lottery, up to a maximum of 5 tickets per eligible account.
– The lottery draw will be done via a transparent, randomized system with a random selection of lottery tickets based on tail digits (explained below).
– Account verification (KYC) and country restrictions will still apply.

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What is binance launchpad?
Each user’s BNB balance will be recorded in a snapshot at 0:00 AM (UTC) each day. Should a user’s BNB balance drop below the minimum balance required on any given day during the 20-day period, they will be put into the lower threshold. For example, User A holds 301 BNB for 19 of the 20 days but their balance drops to 299 BNB on one day. They will now only be eligible to claim 2 lottery tickets.

Each lottery ticket has a unique number. If you claim multiple lottery tickets, the numbers will be consecutive. For example, if you claim 5 tickets, your ticket numbers may be 100010, 100011, 100012, 100013 and 100014. These numbers are used in a transparent draw mechanism described later.

For each project, Binance will announce the maximum number of potential lottery ticket winners, and the allocation amount corresponding to each winning ticket ahead of time. For example, 10,000 potential winning tickets, each representing 500 USD worth of tokens. This will change for each project on Launchpad.

Prior to the lottery date, users will be given a 24 hour period to select how many lottery tickets they wish to enter, with the maximum number to be based on their BNB holdings over the past 20 days. Please note that entering this ticket amount is a commitment to purchase the amount of tokens corresponding to your eventual number of winning tickets. For example, if User B puts in an entry of 5 tickets and only 2 tickets end up winning, they are committed to pay for 2 ticket allocations (in BNB) for the tokens.

After this 24 hour period, with all tickets fully issued, Binance will begin randomly selecting multi-digit numbers. These will be matched against the tail digits of all issued tickets to determine a list of winners. This process will continue until the maximum number of winners (previously set) are matched. The respective BNB will be deducted from each winning user’s balance, as soon as they are deemed a winner.

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Disclaimer: NOTHING in this video is financial advice. This is what i am doing,this is NOT a recommendation to buy,hold or sell. I invest into crypto currencies because i love it and i truly believe its a technology that will shape and the world forever! I repeat i am NOT a financial adviser but simply a crypto fanatic PLEASE D.Y.O.R when investing into any crypto currencies, THANK YOU 🙂

Binance LaunchPad Latest Update!

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