One after the other Binance has a lot in store for its users. Binance shines in the crypto industry and is the hub of innovation. The latest report by Binance states the launch of its 16th project on Binance Launchpad titled “Injective Protocol (INJ). The INJ shall follow the lottery pattern for sale of its token where the BNB balances of customers shall be recorded accordingly.
Well, the program is of a total of 6 days commencing from 2020/10/13 0:00 AM (UTC) till 2020/10/19 0:00 AM (UTC). The final decision shall be taken as the average of 6 days calculated on the basis of Daily Average BNB Balance.
Details of the Program:
- Name of the token: Injective Protocol (INJ)
- Launchpad Hard Cap: 3,600,000 USD
- Token Sale Supply: 100,000,000 INJ
- Total coins allocated to Binance Launchpad: 9,000,000 INJ (9% of Total Token Supply)
- Public Sale Token Price: 1 INJ = 0.40 USD (price in BNB to be determined prior to the lottery draw date)
- Format of Sale: Lottery
- Maximum Number of Winning Lottery Tickets: 18,000
- Allocation on per winning tickets: 200 USD (500 INJ)
- Supported Session: BNB
Lottery Schedule:
- During the complete tenure of the token sale, the BNB balances shall be determined on an hourly basis. The final amount to be calculated based on the number of tickets the participants claim.
- 2020/10/19 6:00 AM (UTC): Interested participants can claim for the tickets at the given time for 24 hours. The users must agree to the terms and conditions and sign the Token Purchase Agreement before claiming the tickets. Note: users can claim tickets for one time only.
- 2020/10/20 8:00 AM (UTC): The winners shall be announced and required BNB to be deducted as per the norms from winners accounts. The winners are requested to keep sufficient balance required to deduct within 24 hours. Note: Several BNB is not eligible to deduct including open orders, margin accounts, lending products, fiat accounts, Launchpool accounts, or card accounts.
Key Points:
- Binance restricts many countries to not take part in the token sale. These include Belarus, Burma, Crimea, Cuba, Croatia, Democratic Republic of Congo, Mainland China, Iran, Iraq, Liberis, North Korea, Sudan, Syria, United States of America, and its territories (American Samoa, Guam, the Northern Mariana Islands, Peurto Rico, and the U.s. Virgin Islands), Zimbabwe.
- Also, users need to complete their verification process and must be from an eligible jurisdiction.
- As always users must analyze the market risk before investing as Binance will not reimburse any losses that occurred during the process of the token sale.
