Binance Launchpad Declares Liftoff for Harmony (ONE) Token via New Lottery Rules

Binance is the leading crypto exchange in the world with regards to its trading volumes. The exchange recently released the introduction of its new project referred to as Harmony[One].

The announcement was made via the Binance Launchpad. The token sale for this platform, which is expected to take place on May 19, 2019, is expected to be governed by a completely new set of rules.

The Announcement

This announcement was made a few days after a successful maintenance upgrade exercise had been performed on the exchange. The upgrade was occasioned by a security breach. The breach caused the company to lose as much as forty-one million dollars or 7000 Bitcoins.

The introduction of the Harmony[One] token will mark the fifth time that a crypto project has been launched via Binance Launchpad. On Twitter, the announcement stated that crypto investors should take note of the fact that the lottery rules had been adjusted in a bid to ensure that they were fair and more inclusive.

It also stated that the time had come for the allocation of BNB tokens to take place. Interested investors were called upon to start claiming their tickets. The statement went on to thank the crypto community and the Binance exchange users for their continued support.

Rules Change

Binance has adjusted the rules in a bid to ensure that the process was comprehensive and more transparent to all involved. According to the new rules, BNB holdings are expected to be calculated in a cycle that will last for approximately one week, or seven days.

The rules also come with some benefits to the users as they have empowered them to sign the TPAs (Token Purchase Agreements). Users will have until the ticket closing time to sign the token purchase agreements. The new rules have, however, come with a downside to some users.

This is because the token sale will not be open to all users. For instance, Croatia users will not be able to take part in the token sale. Binance stated that the reason that informed this decision was the legislative rules put in place by the government.

Market uptrends have been very supportive in the last few months. The trends have been pushing forward launches of new tokens that follow or are similar to the lottery format. Binance has had a less productive week given that it had suspended all deposits and withdrawals pending the maintenance upgrade.

Binance Exchange

Binance is a leading crypto exchange platform that currently supports more than one hundred cryptocurrencies from around the world. Since early last year (2018), the company has been deemed by many as a global leader when it comes to crypto exchange, thanks to its high trading volumes.

The platform was launched in China before moving its operations to Japan on the heels of China’s ban on cryptocurrency trading. By early last year, the company had expanded its operations into neighbouring countries such as Taiwan. This was at a time when it had reported a market capitalisation of more than $1billion.

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