Binance Updates its IEO Participation Rules

Binance Launchpad has changed its participation rules, following the dynamic market conditions. Fewer and fewer holders of BNB could participate in the previous offerings on the exchange, as the winning ticket percentage dropped from 58% for Matic, to less than 31% for Harmony, and 11% for Elrond.

So it is no surprise that stricter rules will be enforced. The next, seventh Launchpad project will have a 7 day BNB holding period, followed by 15 days for the one after that. From that ninth project on, eligibility calculations will take into account the BNB holdings for the previous 30 days.

Moreover, from now on the holding period can start before the announcement of the next project, which could potentially prevent the market crashes that frequently occur after BNB holders have guaranteed their tickets for the next lottery, as well as the IEO announcement pumps. However holdings will return to being snapshotted at 0:00 AM UTC, bringing back some old swingtrading opportunities.

There are also changes in the ticket allocations. As a response to complains from holders of 500 BNB who didn’t get a single winning ticket the previous time, the five BNB holding levels now grant between 5 and 25 tickets, instead of a maximum of five. The holding threshold is also halved so holding more than 250 Binance coins will be counterproductive, at least as far as lottery participation goes. The full rules are available on the official website of the exchange.

So far the community response has been positive and we are eagerly anticipating the next Binance Launchpad announcement to see how things turn out in practice.

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