Binance has just announced its 6th initial exchange offering (IEO) on its Launchpad platform: Elrond.
As one of the most well regarded exchanges in the cryptocurrency industry, initial exchange offering (IEO) investors and BNB holders have enjoyed tremendous success on its platform throughout 2019.
Every IEO that has launched in Binance since the start of 2019 has magnified investor returns, with a 100% upwards price appreciation thus far.
BitTorrent (BTT) is up 10x since its initial IEO price.
Fetch.AI (FET) is up 2.57x (but at one point was also up 10x).
Celer Network (CELR) is up 2.86x (first listed at 4-5x higher than IEO price).
Matic Network (MATIC) is up 8.6x.
And Harmony (ONE), its most recent IEO, also first listed at 10x higher than IEO price, but is currently sitting at 7.2x returns.
Now, Binance has just launched its 6th initial exchange offering on its Launchpad Platform, which, if it follows the trend of Binance’s historical IEOs, we may be seeing another 2-10x in returns for crypto investors immediately after listing.
In our article below, we’ll provide a brief overview on Elrond and how you can participate in this IEO.
What is Elrond?
Elrond describes itself as “a scalable value transfer protocol for the digital economy”.
In brief, Elrond is a public blockchain which leverages sharding and proof-of-stake (PoS). The result is a scalable network which can handle up to 10,000 transactions per second with minimal latency and low fees.
First Time Investors on the Binance Launchpad
If this is your first time participating in a Binance IEO, you’ll have to create an account on Binance and verify your ID.
You can register for an account and verify your ID here by clicking on the “Get Ready For Launch” banner.
How the Elrond IEO Works on Binance Launchpad
As usual, the IEO on Binance has a lottery approach based on your BNB holdings.
Here’s a table showing how many lottery tickets you can claim given your BNB holdings:
9-Day Average BNB balance (X)
No. of Lottery Tickets
50 ≤ X < 200
200 ≤ X < 300
300 ≤ X < 400
400 ≤ X < 500
X ≥ 500
The timeline for this Binance IEO is as follows:
Elrond IEO Requirements and Restrictions
Elrond Token Sale Information
The following fact sheet shows the key details you should be aware of:
|Launchpad Hard Cap||3,250,000 USD|
|Total Token Supply||20,000,000,000 ERD|
|Initial Circulating Supply||37.5% of Total Token Supply|
|Public Sale Token Price||0.00065 USD (price in BNB will be determined on the lottery draw date)|
|Launchpad Allocation||5,000,000,000 ERD (25% of Total Token Supply)|
|Max Number of Winning Lottery Tickets||10833|
|Allocation Per Winning Ticket||300 USD (461,538.46 ERD)|
|Public Sale Vesting Period||No lockup|
|Private Round||1 ERD = 0.00050 USD|
|Private Sale Allocation||19% of Total Token Supply|
|Private Sale Vesting Period||7.5% unlocked at TGE, remaining 92.5% unlocks at 15.42% every quarter afterwards|
|Token Distribution||Within 15 days after end of token sale|
Read more about the Binance IEO for Elrond here.