Binance never fails to amaze its users from its new launch and ninja techniques. On 28, September 2020 Binance introduces its 4th project, Venus (XVS) and now one more innovation is added to the list.
Yes, you heard it right. Binance introduces the Alpha Finance Lab (ALPHA), the first-ever double launch on Binance Launchpool and Launchpad via a tweet on 29, September 2020.
The report states that Alpha Finance Lab shall follow a lottery system for the sale of a token with the active support of Binance recording user BNB balances. The offer shall remain valid for 8 days that commences from 2020/09/30 0:00 AM (UTC) till 2020/10/08 0:00 AM (UTC).
Interestingly the total holding balance for each participant shall be calculated as the average of the eight days. The users’ balance shall be determined by experiencing the Daily Average BNB Balance Calculation that was calculated earlier.
Point to be noted is that users from different countries or regions are not allowed to participate in this event. These countries include Belarus, Democratic Republic of Congo, Cuba, Iraq, Iran, North Korea, Sudan, Syria, Zimbabwe and, the United States of America, and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands).
Moreover, users are required to verify their accounts completely and also must be from an eligible jurisdiction to participate in the token sale.
The Alpha Finance Lab launchpool shall support the BNB, BUSD, and BAND ready to stake Alpha coins. As per the plan, Binance will then list the ALPHA in the Innovation Zone and open trading for several pairs including ALPHA,/BTC, ALPHA/BNB, ALPHA/BUSD, and ALPHA/ USDT on 2020/10/10 5:00 AM (UTC).
Details of ALPHA Launchpad Token Sale:
- Name of the Token: Alpha Finance Lab (ALPHA)
- Launchpad Hard Cap: 2,000,000 USD
- Total Token supply: 1,000,000,000 ALPHA
- Total Coins Allocated for Binance Launchpad: 100,000,000 ALPHA (10% of Total Token Supply)
- Public Sale Token Price: 1 ALPHA = 0.02 USD
- Format for the Sale of Token: Lottery
- Max Number of Winning Lottery Tickets: 10,000
- Allocation Per Winning Ticket: 200 USD (10,000 ALPHA)
- Supported Session: BNB only
Points to Remember:
- Screenshot of each user balances and total pool balances shall be taken every hour updated to calculate the rewards.
- Users after collecting their rewards can claim directly to spot in their account at any time.
- Each pool’s annual percentage pay (APY) and total pool balance shall be updated in real-time.
- Tokens to be staked for only once in one pool at one time.
- Users can unstake their funds at any time and participate immediately in any other pool available.
Tools Supported:
- Stake BNB: 32,500,000 ALPHA in rewards (65%)
- Stake BAND: 12,500,000 ALPHA in rewards (25%)
- Stake BUSD: 5,000,000 ALPHA in rewards (10%)