Binance CEO Gives Notion At Dibs On VIP Access For BNB Token Holders On Launchpad

Binance CEO Hints VIP Access For BNB Token Holders On Launchpad

It is no secret that the Binance Launchpad was a huge success. At the moment, Binance had hosted three token sales (BitTorrent, Fetch.AI and Celer Network) and absolutely all of them were sold out in less than an hour.

The Celer Network sale lasted less than 18 full minutes to raise $4 million USD. BitTorrent raised $7 million USD in 15 minutes, having an even better result. On one hand, this shows just how successful the strategy of the company was, on the other hand, a lot of people complained that they were not able to participate in the token sales as they were simply too quick.

Just after the latest sale was finished, Changpeng Zhao, the CEO of the company, has affirmed that never such high demand was seen before.

The Problem Of Having Such A High Demand

Before the sale of CELR tokens, the company affirmed that people should refresh the page as soon as it the counter hits zero. However, many users were logged out for doing so, which made them lose the chance to buy the tokens.

As soon as these users were able to get back to the page, they discovered that almost all orders were already put and that their orders were never processed. This way, most of the users were simply unable to buy the CELR tokens.

The CEO tried to reassure the clients affirming that the platform is fixing the current issues of capacity and caching and that a better experience will be offered in the future.

However, the numbers are pretty clear and most people were unhappy as 39,000 people tried to buy tokens and only 3129 of them were actually able to. More than ten times the number of happy customers were actual customers who were unhappy with how things went. The same issue happened during the first two sales.

A New Solution? BNB Holders Go First

As soon as the sale was finished, Changpeng Zhao hinted that Binance was already looking for a solution. He affirmed that the next time, the company may try a different approach which would include a “BNB holding allocation model”.

The idea got popular fast, as some people suggested that requiring that the user had to hold the BNB for a whole month before using it would greatly diminish the number of people who would agree in participating in the sale since most of them would simply not be eligible for it.

Since the token offerings started, the BNB considerably grew in value, so it is obvious that the platform will do whatever is required to achieve some success in the future with Binance Launchpad. We just have to wait and see what will be the solution.

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