You are probably not too strange with Binance. You can not only trade directly on the exchange, but also have the opportunity to invest in new projects through the main exclusive token “launcher”, which is the Binance Launchpad. So, how can you participate in the token sale on Binance? This article will guide you how to buy C98 on Binance LaunchPad. Let’s get started!
Binance Launchpad Overview
Binance Launchpad is Binance’s exclusive token “launchpad” to help Blockchain projects raise capital. With the reputation and influence of the Binance exchange and its ecosystem, Binance Launchpad helps increase the project’s reach across other crypto-ecosystems.
In order to be listed on Binance Launchpad, projects must go through a screening process and strict selection criteria, thus ensuring quality as well as the development potential.
In addition, Binance also has a lot of advantages in supporting Blockchain projects thanks to their large ecosystem. Previous projects which conducted IEO on Binance Launchpad showed very good profit numbers, such as Polygon, Axie, WarzirX, Band Protocol, Cartesi, etc.
Coin98 (C98) Overview
Coin98 is a DeFi ecosystem with the goal of making it easy for users to access DeFi. To achieve that goal, Coin98 has developed a set of products that fully serve the needs of users, from transactions, storage to asset management, lending, savings, etc.
In particular, Coin98’s product suite is available on multi-chain, which provides an outstanding smart DeFi experience. Users do not need to take too many steps or have a deep understanding of Blockchain to use it.
What you need to do to buy C98 on Binance Launchpad?
You need to ensure that you meet the conditions that Binance requires, the details are as follows:
- Have an account Binance exchange (KYC completed). If you do not have a Binance account, you can register right here.
- It is necessary to hold BNB tokens for at least 7 days and before the date of sale. The time to hold BNB will be from 7:00 am on July 16, 2021 to the same time on July 23, 2021 (Vietnam time).
- BNB balance calculation takes place between 5pm and 6pm on July 23, 2021 and registrations will be closed.
- The amount of BNB committed must be greater than 0 and must not be negative during the holding period
- The system will calculate the user’s participation limit. After that, you can commit and lock any amount of BNB to your participation limit to receive Launchpad tokens.
How to buy C98 Token on Binance Launchpad
Step 1: Preparing
- Hold any amount of Binance Coin (BNB) before the registration period (usually 7 days in advance)
- In each project, there will be a different holding time, for the Coin98 (C98) project, you need to hold BNB and the time will be from July 16, 2021 to 7 am on July 23/ 2021 (GMT +7)
Step 2: Access and select the project
- You can access the Launchpad on Binance or click here.
- If you access by mobile phone, in the main interface, click Launchpad as shown below:
- On desktop, you can access Launchpad as following:
- Next, scroll down and you will see the announcement of the sale of Coin98 (C98). To see full information about the project, simply click on the project, or click “View Details” .
- After that, you can check all the details about the IEO, including: Sale price, total token supply, hard cap per user, token type and date & time to start.
Step 3: Registration
To be eligible to participate, you need to hold BNB as instructed above. Based on the amount of BNB you hold, the system will proceed to register participants. Registration time will be displayed on the right corner of the screen (in the form of a countdown).
Based on the time & amount of BNB you previously kept, the system will calculate the maximum commitment of each person, which is also the amount that can be used to commit & buy tokens.
The steps to buy C98 token are as following:
- When you have balance of BNB on your spot wallet as required, you choose Commit BNB, then enter the amount of BNB you want to commit and click Commit now.
- After that, the registered BNB will be locked. At this point, you just need to wait until the end of the countdown time to go to the next step (allocation of tokens).
Step 4: Token allocation
- After the registration period ends, it will be time for Binance to calculate the number of tokens acquired by the users (lasting about 1 hour) based on the Commitment Ratio.
- The exchange will allocate tokens based on the amount of BNB that you have registered, after this, participants will receive the corresponding number of IEO tokens and the remaining BNB will be transferred to the Spot wallet.
IEO events are always a place with many desirable investment potentials for investors. Besides, to make it a successful investment, you need to understand the level of risk with your cash flow, information about the project, as well as your own investment purpose.
To know more about Coin98 (C98), you can read this in-depth report from Binance Research.