The DeFi Kava project is seeking to raise 3 million through IEO on Binance Launchpad

Binance Launchpad – Binance's token offering (IEO), has just announced the sale of WazirX token. This is Binance's first token offering in 2020.

Follow Press Release On February 4 from Binance, there were 10,000 winning tickets held by a total of 9,033 winners. More than 20,000 users participated in the first lottery draw in 2020 of the cryptocurrency exchange. Finally, more than 136,000 tickets were sent. The chance of winning for all participants is 44% and this also sets the winning rate at 7.31%.

The WazirX token offering was implemented through a single session – where participants bought WazirX (WRX) tokens with Binance coin (BNB). In this session, all 100,000,000 WRX tokens were sold out to Launchpad participants.

Binance Launchpad also revealed that users' BNB balances will be deducted according to the number of tickets they win within 24 hours.

WazirX is India's leading Bitcoin exchange with an automated matching mechanism, which was acquired by Binance in November last year. WazirX itself is working to solve the problem of converting cryptocurrencies into fiat and vice versa, and simplify the process of sending / withdrawing fiat money. WazirX (WRX) will be listed on Binance tomorrow. Binance will open trades for the WRX / BNB, WRX / BTC and WRX / USDT pairs at 2am UTC on February 5.

As Toiyeubitcoin reported earlier this year, major cryptocurrency exchange Binance announced major changes to the format of token offering on Launchpad in a post published on March 24.

According to the announcement, the company will “use the new lottery format for subsequent projects on Binance Launchpad”. Previously, the system operated on a first-come, first-served basis, which caused many users to participate in the purchase without being able to obtain tokens.

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According to CoinTelegraph
Translated by ToiYeuBitcoin

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