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Initial placement of tokens on the Binance site

03/26/2019
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After the flurry sale of Celer Network tokens on the Launchpad Binance platform, a huge number of dissatisfied users appeared. To solve the problem, the Binance management decided to change the rules for the initial allocation of tokens on their platform.

Confusion with the placement of Celer Network tokens

On March 20, the sale of Celer Network tokens was held at the Binance tokens primary sale site. It lasted only 17 minutes but ended in a big scandal. Of 39,003 willing, only 3,129 were able to become the owner of the asset. But the main problem is that the platform simply could not stand such an influx of visitors.

Celer Network is a cryptocurrency platform designed to solve the problem of scalability. It is able to act as a superstructure over other blockchains, and carry out operations for the exchange of various cryptocurrencies online.

Technical failures caused active discontent of users. They hit the ground criticized on social networks. Moreover, the accusation of inability to solve technical problems is well founded. Earlier in Launchpad Binance stated that they took into account past mistakes, and now they are ready for the influx of visitors. But it turned out that the developer's optimism was premature.

The technology of "live queue" does not very well affect the reputation of the site. Due to a large number of visitors, the servers do not withstand the load, and even the first of the applicants may be left without the right to purchase an asset.

The new solution to the old problem

It seems that the developers finally realized the vulnerability of their system to such an influx of visitors, and therefore decided to conduct an initial tokens allocation under the new scheme. Now, one day before the sale begins, lottery tickets will be sold there.

The number of tickets available for purchase depends on the account balance on the cryptocurrency area. Moreover, this figure will be monitored during the previous month.

The token sale itself will be held in the form of a drawing of the right to purchase the tokens themselves. Each user of the service will be able to purchase no more than 5 tickets. If two or more of them win, he can increase the number of tokens acquired.

The loudest sales of tokens

The first at random with the initial allocation on Launchpad Binance, critics noticed during the sale of BitTorrent tokens. Then the influx of buyers caused critical failures, and many simply could not log in.

The next sale, for Fetch.AI, did not cause such a stir. And then the technical services of the company reported on the work done, and the solution of possible technical problems. However, it turned out that optimism was premature.

As soon as a large number of users came to the site again, it could not bear the technical burden. Therefore, the decision of Launchpad Binance to change the algorithm for the primary allocation of tokens was a logical solution to the problem. And here they have not forgotten about their benefits. Distribution of tickets depending on the amount of the deposit will force users to keep their funds on this site.

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