Binance Coin has started another rally on Sunday after the announcement of controversial changes to Binance Launchpad. BNB surged 14% before losing a bit of steam.
Today, BNB holders saw the token start yet another impressive rally, shooting up by 14% in a few hours time and ending up above $17,00. BNB is now trading at its highest level since June 2018.
The BNB price has spiked again, primarily because of some announced changes that will be coming to Binance Launchpad. The new Launchpad setup clearly triggered investors to buy more BNB.
— Binance (@binance) March 24, 2019
The Launchpad announcement is the following: each Launchpad user has to hold at least 100 Binance Coin (BNB) to become eligible to participate in the Launchpad lotteries. The lottery draw system will replace the first come first served principle that most ICO’s have offered before.
Lottery Ticket Allocation
Launchpad users will be able to claim up to a maximum of 5 lottery tickets based on their BNB holdings over the 20 days leading up to the lottery draw date. The overview of the Lottery Tickets systems looks the following:
According to the Binance announcement, each lottery ticket has a unique number. If you claim multiple lottery tickets, the numbers will be consecutive. After that, the lottery draw will be done via a transparent, randomized system with a random selection of lottery tickets.
The full announcement can be read here: Binance Launchpad Token Sale Format