The largest cryptocurrency trading platform in the world, Binance, has recently announced on its official blog that the next project which will be featured at the Binance Launchpad is the Celer Network (CELR) token. The sale is set to occur on March 19, 2 p. m. UTC and it will accept only BNB tokens.
Unlike the other two sales which have already happened so far, this new token sale will have an individual cap of $1,500 USD, which means that people will be only able to buy a small number of coins with a single account.
Why is that? Probably because the first sales were so heavily crowded. The sale of BTT tokens only lasted minutes. The individual cap at the time was $20,000 USD and a lot of people spent all that in the tokens, which caused many investors to be locked out of the sale.
In order to diminish the problem, the bar was set to $3,000 USD but that did not stop the customers from buying out all the tokens pretty fast. Only 2,758 people from the 19,860 who put out orders to buy the tokens were able to do it. The idea is that at least 5,000 people or more will be able to buy tokens now with the new cap, which would distribute the tokens more.
About the CELR Token Sale
The token sale will officially last from March 19 to March 24, however, the tokens will be probably sold out in hours. The total token supply will be 10,000,000,000 CELR and almost 60% of these tokens will be on Binance Launchpad. Each token will cost 0.0067 USD but you can only buy them using BNB tokens. The hard cap is $4 million USD and the first ones to order will get the tokens.
About the Celer Network
The Celer Network was created by four people who hail from prestigious colleges such as MIT, Princeton, UIUC and UC Berkeley. The main idea of the network to offer a highly scalable and decentralized solution for users with off-chain solutions.
Basically, the main product of Celer will be a layer 2 solution with zero off-chain smart contract transactions fees. This means cheap transactions that will be faster than most of the other tokens.