Binance Launchpad, the exclusive token launch platform of Binance that helps transformative blockchain startups raise funding to develop their products and drive user adoption, has completed the Alpha Finance Lab token sale. This is the 15th Binance Launchpad project and the first “double” launch – the project got the support from Binance Launchpool platform.
The token sale was conducted through a single session where participants purchased ALPHA tokens using BNB. In this session, all 100,000,000 ALPHA tokens were sold to Launchpad participants who drew and claimed winning lottery tickets.
The timeline below provides an overview of how the Alpha Finance Lab token sale was conducted:
October 8, 2020, 00:00 (UTC): Binance Launchpad ended the 8-day period for recording BNB balances on an hourly basis each day.
October 8, 2020, 00:00 (UTC): The ticket claim process opened for all eligible users for a 24-hour period. Users were also required to sign the Token Purchase Agreement during this time.
October 9, 2020, 06:00 AM (UTC): The ticket claim process closed. 20,112 users participated in the lottery claiming a total number of 146,836 tickets. Binance Launchpad began the lottery draw.
October 9, 2020, 08:00 AM (UTC): Binance Launchpad announced that there are 10,000 winning tickets, held by 8,736 total winners. That puts the percentage of winning participants at 43.44% of all 20,112 users and the percentage of winning tickets at 6.95% of all 143,866 tickets claimed. The winners’ BNB balances will be deducted based on their number of winning tickets within 24 hours. If you won ticket(s) in the lottery, please ensure that you have sufficient BNB in your spot account.
Alpha Finance Lab is focused on building an ecosystem of automated yield-maximizing Alpha products that interoperate to bring optimal alpha to users on a cross-chain level.
Alpha Lending, the Alpha product currently on Binance Smart Chain (BSC) testnet, is a decentralized lending protocol with algorithmically adjusted interest rates. The product will serve as an important building block for DeFi applications on the BSC.
Alpha Homora, the Alpha product currently on Ethereum mainnet, is a protocol for leveraging your position in yield farming pools.
Synergy across Alpha products is key to generate optimal alpha for users. As Alpha team continues to grow the portfolio of Alpha products, the team continues to relentlessly test and optimize existing products while working on adding more functionalities to the current products. Furthermore, they are conducting research and development of the new products on both Binance Smart Chain and Ethereum, and building the technical infrastructure to support interoperability among Alpha products.
For more information about Alpha Finance Lab, read this extensive report provided by Binance Research.