Fellow Binancians,
Binance is excited to announce the 18th project on Binance Launchpad - SafePal (SFP). The token sale for SafePal will follow a NEW Launchpad subscription format, with the recording of user BNB balances starting at 2021-02-02 0:00 AM (UTC).
Binance will record user BNB balances for 6 days from 2021-02-02 0:00 AM (UTC) to 2021-02-08 0:00 AM (UTC). The final BNB holding amount for each user will be determined as the average of the 6 days, using the Daily Average BNB Balance calculation previously announced here.
SFP Token Sale Details:
What is the new Launchpad Subscription Format?
The new subscription format allows BNB holders to commit an amount of BNB towards a token sale, where their final allocation of the new token is determined by the ratio of their committed BNB against the total committed BNB by all participating users. To ensure a fair allocation for all participants, we will be setting a max cap of token allocation per user.
How do I participate?
Your 6-day average BNB balance will be your maximum participation limit. During the subscription period, you can participate by committing BNB from your spot wallet towards the token sale.
Is there a limit to how much I can commit?
You can commit any amount of BNB up to your total 6-day average BNB balance. For example, if you have an average of 2,000 BNB over the 6 day calculation period, you may commit 2,000 BNB during the subscription period.
How is my final allocation calculated?
Once the subscription period is over, each user’s token allocation will be roughly calculated as follows: (Individual committed BNB / Total committed BNB by all participants) * Total SFP tokens to be sold. The final calculation is likely to deviate from this estimation due to the hard cap per user. Users will likely receive a slightly different final allocation than estimated using the formula above. For further information on the exact calculation details, read the article here.
Subscription Timeline:
Please note that the subscription format will not be limited to Launchpad sessions going forward. We may use the subscription format for new listings, allowing users to purchase already-circulating tokens at a discount prior to the start of trading. As such, we may use average BNB balances calculated for a period prior to the time an announcement is made.
To learn more about SafePal (SFP), read Binance Research's in-depth report here.
SafePal Project Links:
Website: https://www.safepal.io/
Whitepaper: https://www.safepal.io/pub/SFP_Whitepaper.pdf
Telegram: https://t.me/SafePalwallet
Twitter: https://twitter.com/iSafePal
YouTube: https://www.youtube.com/channel/UCfqztNiZWV62Eu9kiqKf6WQ
Blog: https://blog.safepal.io/
Reminder: Users need to complete their account verification and also be from an eligible jurisdiction to participate in this token sale.
* Users from the following countries or regions will not be able to participate in token sales on the Binance Launchpad platform:
Belarus, Democratic Republic of Congo,Cuba, Iraq, Iran, Mainland China, North Korea, Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Zimbabwe.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
Thanks for your support!
Binance Team
2021-02-01
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