Binance has announced another project on the Binance Launchpad - Matic Network (MATIC). The sale of MATIC tokens will be held in the new lottery format using the new rules previously announced by Binance.
#Binance Launchpad announces @maticnetwork as next project under its new token launch formathttps: //t.co/W2sr608fO9
- Binance (@binance) April 1, 2019
Matic Network is a Scalable SolutionLayer 2, which provides improved throughput through sidechains, while protecting assets through Plasma and Proof-of-Stake (PoS).
The Matic Network project has made a significant contribution tointroducing the Plasma MVP (Minimum Viable Plasma) implementation, the WalletConnect protocol, and the popular Ethereum event notification engine, Dagger, to the Ethereum ecosystem.
The launch of the token sale is scheduled for April 24, 2019.at 11:00 (Moscow time) and will be completed on April 26 at 17:00 (Moscow time), with a total supply of 10,000,000,000 MATIC. MATIC tokens will be sold at a price of USD 0.00263 for 1 MATIC (the price in BNB will be announced 1 day before the start date of the event).
The maximum number of winning lottery tickets is 16 666, and the distribution for each winning ticket is $ 300 (114,068.44 MATIC).
Users will be able to claim no more than5 lottery tickets, depending on the number of BNBs in their possession, during the 20 days preceding the date of the lottery. It is worth noting that Binance lowered the minimum participation threshold to 50 BNB.
Do not forget that Binance has already been able totake profits of more than 379% in the course of its three initial exchange offerings (IEO). According to analysts, demand is likely to continue to grow, and other exchanges have already followed Binance.
According to representatives of the exchange, the lottery will be completely transparent, however, users must follow the territorial restrictions and the KYC procedure to verify the account.