Binance will hold third Launchpad token sale: 'We'll do one in March'

05 Mar, 2019
by Jelmer van der Dussen
News
Binance will hold third Launchpad token sale: 'We'll do one in March'

Binance will today announce the third project that will be launched on Binance Launchpad, the token fundraising platform of the exchange.

After months of no news coming from the ICO space, Binance has brought new life to the initial coin offering (although Binance never uses the term ICO) by creating Launchpad, a platform where selected projects can conduct their token sale.

At the beginning of the year, TRON-backed BitTorrent (BTT) was the first project to be launched on Launchpad, raising $7 million in under 20 minutes. The second launch was an even bigger succes, with Fetch.AI (FET) selling $6 million worth of tokens in only 22 seconds last month.

Read more: Fetch.AI raises $6 million in 22 (!) seconds on Binance Launchpad

There is a huge demand for projects launched on Launchpad and a new token sale will follow in March. During an AMA, Binance CEO Changpeng Zhao (CZ) said that 'the next launchpad will be announced later today. We'll be doing another one in March'. Binance stated in January that it plans to do one token launch every month.

CZ added that 'we look for good projects. There is an application process for Launchpad which is public. As long as they are a good project, we will do them. But we don't want to do too many of them.'

Read more: CZ Binance in AMA speaks on delisting, launchpad, Binance DEX, and more

In the last token launches, Binance's native token BNB was the only currency that was accepted. This drove the price of BNB up towards the sale. Today, Binance Coin is making huge gains again, being up 15% in a red market following CZ's AMA.

Read more: Binance Coin jumps over 17% overtaking Stellar with Tether in sights

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