New Binance IEO: Elrond

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.

For example:

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.

Elrond IEO

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

1

200 ≤  X < 300

2

300 ≤  X < 400

3

400 ≤  X < 500

4

X ≥ 500

5

The timeline for this Binance IEO is as follows:

Elrond IEO Timeline

Elrond IEO Timeline

Elrond IEO Requirements and Restrictions

According to the Binance IEO page, the following countries will not be allowed to participate in the Elrond IEO:
Afghanistan, Albania, Angola, Azerbaijan, Bahamas, Belarus, Bosnia & Herzegovina, Botswana, Burundi, Cambodia, Cameroon, Central African Republic, Chad, Cuba, Côte d’Ivoire, Democratic Republic of Congo, Eritrea, Ethiopia, Ghana, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Laos, Lebanon, Liberia, Libya, Macedonia, Madagascar, Mozambique, Myanmar, Nicaragua, North Korea, Pakistan, Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tajikistan, Trinidad and Tobago, Tunisia, Turkmenistan, Uganda, United States of America (including its territories and dependencies, any state of the United States and the District of Columbia), Uzbekistan, Vanuatu, Venezuela, Yemen, Zimbabwe

Elrond Token Sale Information

The following fact sheet shows the key details you should be aware of:

Launchpad Hard Cap3,250,000 USD
Total Token Supply20,000,000,000 ERD
Initial Circulating Supply37.5% of Total Token Supply
Public Sale Token Price0.00065 USD (price in BNB will be determined on the lottery draw date)
Launchpad Allocation5,000,000,000 ERD (25% of Total Token Supply)
Max Number of Winning Lottery Tickets10833
Allocation Per Winning Ticket300 USD (461,538.46 ERD)
Public Sale Vesting PeriodNo lockup
Private Round1 ERD = 0.00050 USD
Private Sale Allocation19% of Total Token Supply
Private Sale Vesting Period7.5% unlocked at TGE, remaining 92.5% unlocks at 15.42% every quarter afterwards
Token TypeBEP2
Token DistributionWithin 15 days after end of token sale

Read more about the Binance IEO for Elrond here.

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