Binance Launchpad announce exclusive token launch – Harmony Token


Binance, one of the most popular exchanges in the world announced its exclusive token launch platform ‘ Binance Launchpad’ support for its fifth project of the year, ‘Harmony’, a fully scalable and secured blockchain.

From January 2019, Harmony’s testnet is operational and fully open source with key innovations in state sharding and peer-to-peer networking. Harmony’s token sale will begin in a lottery format on May 28, 2019, at 06:00 AM UTC.

According to Binance CEO and Founder, Changpeng Zhao :

“Scaling is one of the key problems of the blockchain industry, which we as whole industry need to solve in the most effective way possible.”

“The expert team behind the Harmony project initiates to solve this problem by using sharding to parallelize transaction processing.”

A shard is a portion of a database, where each shard is stored in a separate server instance. This will make to spread the load and makes the database more efficient.

Token sale

Harmony token sale will start at 2019/05/19 23:59:59 (UTC).

lottery rules:

  1. The average BNB holdings on each account over the holding period is calculated. This will be  calculated as the average of your BNB balance at 23:59:59 (UTC) each day in the 7-day period.
  2. Users can sign the Token Purchase Agreement at any time up till the end of the ticket claim period.

Launchpad Session Time is  2019/05/27 06:00 AM (UTC) to 2019/05/29 08:00 AM (UTC). The recording of BNB balances will start at 2019/05/19 23:59:59 (UTC). Hard Cap is 5,000,000 USD.

The Total Token Supply is 12,600,000,000 ONE and Total Tokens Allocated to Binance Launchpad is 1,575,000,000 ONE (12.5% of Total Token Supply)

Also, public sale token price is  1 ONE = 0.003175 USD (where price in BNB will be determined on the lottery draw date). Max Number of Winning Lottery Tickets are 16,666 and Allocation Per Winning Ticket is 300 USD (i.e 94,488.18 ONE)

The Harmony (ONE) token will be issued on Binance Chain as a BEP2 asset.

Lottery Timeline:

  • Users can start depositing or purchasing BNB into your account till  2019/05/19 23:59:59 (UTC).
  • User BNB balances start to be recorded at this time 2019/05/19 23:59:59 (UTC), and will continue to be recorded at 23:59:59 (UTC) each day for another 7 days.
  • The Final BNB balances in user accounts will be recorded to determine eligibility to claim lottery tickets on 2019/05/26 23:59:59 (UTC).
  • Ticket claim will opens for all eligible users for a period of 24 hour. Users can also sign the Token Purchase Agreement during this time.2019/05/27 06:00 (UTC).
  • Ticket claim closes and the lottery draw begins at 2019/05/28 06:00 (UTC)
  • Winning tickets will be announced and the respective BNB will be deducted from the winner accounts. Please ensure you have the sufficient BNB in your account to deduct within 24 hours if you have a winning ticket on 2019/05/28 08:00 (UTC).

The Binance exchange platform despite 7000 BTC hack looks strong and is updating its system and launching new token on its blockchain platform. Binance is coming with new features and security updates and striving to provide their user a secured platform.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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