Binance Announces an IEO for a Gaming Platform Token
- WINk is a rebrand of the most popular Dapp on the Tron network – TRONbet.
- The IEO will value the token relatively high but expectations are that investor interest will still be high.
Binance Launchpad IEOs have been largely next generation blockchains with high throughput, quick transaction finality and support for flexible smart contracts. Instead of offering more of the same, this time the most popular cryptocurrency exchange is giving investors a breath of fresh air.
Thus the novel approach to project selection will go hand in hand with the new lottery rules, which were announced a few days ago.
WINk is a rebrand of the TRONbet platform, advertised by Binance themselves as the #1 dApp in terms of users and volume. As the name suggests it is based on and supported by Tron, although the token will also be available as a Binance Chain-based BEP2 after the crowdsale reaches its conclusion.
Despite the indications of being a successful platform since before its IEO, community expectations have been lowered as compared to the crowd sales of Harmony and Matic. This is partly due to the token pricing, which gives the token a total market cap of $119,979,900 – perhaps leaving less room for growth than Binance Launchpad’s previous offerings. IEO returns of up to ten times the invested amount might be out of reach this time.
However an already established product with DeFi integrations and fiat onramps, witty token economics that incentivise holding and strong backing from Tron has a very solid argument for selling at a higher price than a project during its planning stage. So we still expect the IEO to be filled with a low percentage of winning tickets. With only five days remaining until the winning ticket draw, it won’t take long to know for sure.
- Blockchain has not only affected the financial industry but also the gaming world, and game developers are increasingly incorporating the technology into their products.
- Although the technology is extremely secure, it is important to remember that safety starts with the user, and it is up to them to ensure their protection online.
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- Binance CEO Changpeng “CZ” Zhao announced the fund on Monday, noting that it will target potentially strong projects that are facing a liquidity crisis.
- Tron founder Justin Sun was amongst the first to express his support for the fund by saying that Tron, Huobi Global, and Poloniex will join the initiative.
- FTX has allowed withdrawals for TRX, BTT, JST, SUN, and HT after reaching an agreement with Tron, which provided $13 million worth of assets to facilitate such swaps.
- Additional funding for such swaps will be provided on a weekly basis at 14:00 UTC, with the amount injected based on factors such as withdrawal demand.