Binance exchange, one of the largest exchange in world announced that, its top exclusive token launch platform ‘Binance Launchpad’ has completed the sale of Matic Network (MATIC) tokens.
Binance Launchpad which helps transformative blockchain startups raise funds to develop their products helping in cryptocurrency adoption.This is the first token sale under new lottery rules and the fourth token sale of this year.
The MATIC tokens were purchased using Binance Coin (BNB) and the token sale was conducted through a single session. All the winners of lottery were sold 1.9 billion MATIC tokens, who are participants of launchpad .
On April 24, 2019 0:00 AM (UTC) – Binance Launchpad closed the Token Purchase Agreement and recorded final BNB balances in user accounts. And on same day at 8:00 AM, for a 24-hour period the ticket claim process was opened for eligible users.
The ticket claim process closed at April 25, 2019 8:00 AM (UTC) . A staggering total 28,547 tickets were claimed by 13,170 users in the lottery. Binance Launchpad started the lottery draw.
Later , Binance Launchpad announced that there are 16,666 winning tickets, taken by 9,443 total winners on April 25, 2019 10:00 AM (UTC). This caluclates the percentage of winning tickets to 58.38%, among all 28,547 tickets claimed.
Within 24 hours, the winner’s BNB balances will be deducted based on their number of winning tickets. If you won the lottery, please be aware that should you have sufficient BNB in your account for deduction, if you have a winning ticket by April 26, 2019 10:00 AM (UTC).
Matic Network is a Layer 2 scaling solution that achieves scale by using the side-chains for off-chain computation, while offering asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.
Matic aims to be the actual platform on which developers will deploy and run decentralized applications.