Binance To Carry Out New ICOs On Crowdfunding Platform
Binance, the leading exchange in terms of trading volume, will relaunch its crowdfunding platform called Binance Launchpad. The platform will work on several innovative blockchain projects in 2019, including the future ICO of BitTorent, according to the official blog.
The updated Binance Launchpad will provide startups with an opportunity to raise funds for the development of their products and will allow them to enter the Binance crypto ecosystem. Investors and project authors who pass the verification will be able to participate in crowdfunding campaigns.
Initially, the platform will work with two projects — Fetch.AI, which combines the advantages of blockchain and artificial intelligence, and the popular BitTorrent service, which has recently announced the launch of its own tokens. The internal BTT coins can be used to speed up the download of torrent files. The tokens will be distributed on Binance Launchpad, as well as using airdrops.
The Launchpad service operates since the end of 2017, but it was not popular due to strict verification requirements. Besides, it was not available in several countries, including the United States and China.
According to the official website, the platform had only two successfully completed projects during the whole period of its existence — Bread and GIFTO. In 2017, they received funding in ether and the internal BNB tokens of the exchange.
Launchpad plans to hold ICOs of new tokens every month, offering investment opportunities to more than 10 million Binance users. However, the platform will not be available to the residents of several countries in Africa and Central Asia, as well as investors from the United States, Ukraine, and China.