Binance Announces New Harmony Protocol Token Sale On Binance Launchpad
Binance, one of the largest cryptocurrency exchanges in the world, is introducing a new token sale on its Binance Launchpad platform. The new Initial Exchange Offering (IEO) is Harmony Protocol and it offers an innovative high-throughput, low latency and low fee consensus platform.
Binance Launches New IEO
Binance has just announced that they will be launching on its Launchpad a new IEO called Harmony Protocol. Although there is not much information about it, the official tweet written by Binance explains that it is an innovative, high-throughput and low-latency consensus platform that will be powered by a low fee scheme.
As Binance explained, there will be more details about the sale and metrics on May 15, additionally, they will also be using an improved and more condensed lottery schedule.
Further details of the sale & metrics will be released on May 15th, with an improved & more condensed lottery schedule. pic.twitter.com/zeaHAyWMFM
— Binance (@binance) May 11, 2019
Back in March, Binance announced that they were going to update their launchpad token sale format. Due to accusations of manipulation and volatility in the price of Binance Coin (BNB) tokens, the company decided to use a new lottery scheme for users to invest in different IEOs on is Binance Launchpad platform.
Each user will have a number of tickets depending on the amount of BNB that they hold over a 20-day period. Each account will have a maximum of 5 tickets. This is expected to increase BNB stability and make IEOs fairer. Each of the tickers represents 500 USD worth of tokens.
Past projects launched on the Binance Launchpad include BitTorrent Token (BTT), Fetch.AI (FET), Celer (CELR) and Matic (MATIC).
Just a few days ago, Binance was affected by a hack that ended up in $40 million losses for the exchange. More than 7,000 BTC were stolen from the exchange’s hot wallet. Binance is now trying to improve its security and eliminate any trace of the hacker on its systems. Additionally,