In the past week, the leading Cryptocurrency exchange, Binance has closed its launchpad platform where the Fetch.Al (FET) token sale was taking place. It was closed at the hard cap of $6 million dollars with expected sale of over 69 million tokens. The day when the token sale closed, Binance CEO Changpeng Zhao, also known as CZ tweeted about it and reported the time period in which the sale got completed was in 22 seconds. When asked about its existence, Fetc.Al illustrates itself as a project with an aim to create an economic interest by conjoining machine learning, artificial intelligence, multi-agent systems, intelligent smart contracts and distributed ledger technology. For availing more information, you can contact Binance customer support number which is functional all the time. The team is responsive and make sure to end all the queries of the users in split seconds.
As per the reports of Binance CEO, the token sale experienced a block on the exchange’s token platform with its high demand and consequently it gets shut off in the first 22 seconds. Under the User Agreement around 24000 people got pre-signed, a total of 19860 people successfully gets submission to buy order and around 2758 people got a piece. As per the Binance reports, the tokens got sold to token sale contestants in 11 minutes and 14 seconds. As per the public token sale description on Binance launchpad, ERC20 tokens were assigned on 1 FET token was sold at a rate of 0.00858400 Binance Coin (BNB). It is equivalent to $0.0818 in a BNB-USD exchange rate of $9.53 at press time. User token purchases were capped at a value of $3,000, with a minimum investment of $20.
Among the full amount issuance of 1,152,997,575 FET, preliminary circulating supply has been set at 11 percent of the total token supply. For the public sale facility, token distribution is allegedly set to occur within fifteen days after the sale’s conclusion.
Binance Launchpad lift up $6 Million Within ‘22 Seconds’
As per reports, Launchpad platform of Binance has apparently inaugurate a much alike speedy public token sale but the time here was in minutes not in seconds. In the late January month, the sale of Tron-based BitTorrent token (BTT) was approximated around $7.1 million dollars with around sale of 50 billion tokens in 15-18 minutes. Binance CEO also claimed that the sales would have been in seconds if it would not be surrounded by technical issues.
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