Binance has announced next project on binance launchpad – MATIC PROJECT (MATIC).
Just like we shared details about earlier Two launchpads (i.e. FET and CELR) and told you guys to participate in those projects. Both projects opened at 5x-6x upon its listing on binance exchange after completion of sale event. However, most of the guys complained and show their anger on various social media platforms, so now binance has come up with lottery system for token sale of next project (MATIC NETWORK).
Lottery system is used by various traditional stock exchanges around the world to ensure fairness and transparency. Binance has explained this project in their announcement channel but most of the people didn’t understand it. So, we wanted to help our community to understand this lottery sale format in very easy language with the help of a simple example. Read point by point
1. You need to hold atleast 50 bnb in order to be eligible for buy MATIC. Binance will give you guys lottery tickets based on bnb you’re holding for 20 days starting with April 5th 2019 00.00 AM (UTC).
Lottery tickets will be given in following proportions:
50-200 BNB – 1 ticket
200-300 BNB – 2 tickets
300-400 BNB – 3 tickets
400-500 BNB – 4 tickets
More than 500 – 5 tickets
You guys will get tickets in consecutive order. For eg. you are holding 250 bnb for 20 days, then you will get two tickets and your tickets number can be 10002, 10003.
2. Now binance will take screenshot of your bnb balances everyday starting from April 5th 00.00 am (UTC) for 20 days. So we may see dump in bnb at that time and bnb price will get up eventually since dumpers need to buy back too for next Screenshot.
3. Binance will start issuing lottery tickets to eligible participants after 24.04.2019. For eg. Total lottery issued to eligible users are 1,00,000 tickets but as announced, Maximum lottry tickets that can be won in this MATIC sale are 16,667 tickets.
Now binnace will select tail numbers at random with increasing number of digits until total of 16,667 tickets are reached.
If first tail number is 5, then every ticket holding having 5 as last number of ticket will get selected, a total of 10,000 tickets will be declared by then
Then next tail number is 12, a total of 1,000 tickets will be given to those guys having last number as 12. (from 1 to 1,00,000 , 12 appars only 1000 times like 12, 112, 212, 312 etc)
Tail numbers will increase and this process will continue until all 16,666 tickets are allocated.
4. You guys need to hold at Screenshot time for all 20 days. Average won’t matter here. Actual numbers will matter. If you’re holding 500+ bnb for 19 days and 0 for 1 days, you’ll not be eligible for single ticket and if you’re holding 500+ bnb for 19 days and 250 bnb for 1 day, then you’ll be put in lower threshold which means you’ll get 2 tickets in such case.
Note : Maximum Buy allocated to one ticket is worth 300 USD.
Conclusion :– Binance will not let price of #BNB fall and will keep coming with such projects in coming month. Therefore we suggested you guys to dip buy BNB below 40k zone as it’ll keep on pumping. We recommend you guys buy and hold such amount of BNB for the number of tickets you wish you have. For eg. If you wish to have 5 tickets and 50 percent probability to get atleast 1 ticket, then hold more than 500 BNB. Remember, watching the history 300 USD worth of investment would yield you 1500-1800 USD after its exchange listing. Therefore, Buy bnb and hold till April 25, 2019 and don’t play 00.00 am dumping thing.Register binance to buy MATIC Token