Binance Changes IEO Rules on Its Platform
Binance Crypto Exchange This Thursday Announced Upcoming Changes to its Initial Exchange Offerings (IEO) on its Binance Launchpad.
During the next (seventh) IEO, users will need to hold BNB tokens for 7 days to participate in the qualifying lottery. For the eighth IEO, the BNB storage period will be set at 15 days, and for the next – 30 days. For the last IEO Elrond, this value was 9 days.
In addition, in the course of the following campaigns, the BNB retention period may be launched even before the official announcement of IEO. “For example, if the eighth IEO is initially announced on August 7, and the BNB storage period ends on August 13, then data on user account balances from July 30 will be taken into account,” the exchange writes..
Instead of randomly fixing balances, as has been the case for the last few campaigns, user account balances will again be registered daily at 00:00 UTC (03:00 UTC).
BNB tokens held in margin accounts will not count towards the qualifying lottery.
The ticket distribution structure has also been updated. With a minimum balance of 50 BNB, the user can get 5 tickets, and if his account has more than 250 BNB – 25 tickets. Previously, the maximum limit was 500 BNB – it was proposed to get 5 tickets for this volume of tokens. Also, changes were made to the distribution of tickets for intermediate levels..
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