On the heels of the recently concluded Fetch.ai (FET) token sale on February 25th, Binance is keeping up with its promise to launch at least one project every month in 2019 through its Launchpad platform. On Tuesday, March 5th, Binance announced this month’s crowdsale project which should be held from 19th to 24th. The project is Celer Network (CELR) token, a “leading layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions but also generalized off-chain smart contracts.”
Binance plans to hold the CELR token sale in one session that will only accept Binance’s native token the BNB. According to the released token metrics, the project is seeking $4 million through the sale of about 6% of their total token supply. The maximum token suply for this token is 10 billion and the tokens for sale will be 597,014,925 CELR. In contrast to the previous two token sales on the Binance Launchpad BTT and FET tokens, the CELR token sale will be capped at $1,500 per individual investor. FET had a $3,000 cap while BTT had a $20,000 cap. The rationale behind the reduction of the individual cap could be due to the large percentage of investors that are left out following each successful sale.
During the FET token sale last month, out of the 19,860 willing and able investors, only 2,758 investors successfully had their orders filled. That is about 86% of rejected orders or unhappy investors who took to Twitter to vent their frustration. Several others were inquiring of the next token sale to try their luck. Considering that the individual cap from the FET token sale double the set cap for the CELR token sale, it is anticipated that the successful token investors this time will be at least double the previous figure.
The price of each CELR token has been set at $0.0067 but the BNB exchange rate will be set on the day that the sale is expected to begin. As always the sale is on a first come first served basis. All interested investors are advised to sign the token sale agreement in time and to verify their identities.