The Binance crypto exchange will host the Band Protocol project on its Binance Launchpad platform. As usual, users will be able to purchase new coins in a lottery format. Those who do not receive a winning ticket will be able to take part in airdrop.
In total, 12,368,200 BAND tokens (about $ 5.85 million) were put up for primary exchange offers. About 631,800 BANDs (approximately $ 300 thousand) transferred for airdrop.
According to the rules of the lottery, those who have Binance Coin (BNB) tokens on their account receive tickets, that give the right to buy coins. Users with an average daily BNB balance of 500 BNB or more will receive 10 tickets.
The client must have 50 BNB on balance to get one ticket. One winning ticket allows redeeming tokens for $300. User account balances are recorded from August 17. The last day of reporting and the start of the crowdsale is September 17.
Developers of Band Protocol coin are creating an open protocol for decentralized data management in public blockchains such as Ethereum, EOS, and Cosmos. The project attracted $3 million of investments at the beginning of 2019.