Binance announces 4th Launchpad project: Matic Network sale on April 24th

01 Apr, 2019 | Updated: 01 Apr, 2019
by Will Heasman
Breaking News
Binance announces 4th Launchpad project: Matic Network sale on April 24th

Binance has just announced the 4th ever Launchpad token sale, revealing that the Matic Network (MATIC) token will launch on the 24th of April, and no, it's not an April fools joke…

The MATIC sale will begin on April 24th, 2019 at 8 AM (UTC) and run until April 26th 2:00 PM (UTC)

As per recent Launchpad token sales, BNB will be the only supported form of cryptocurrency. 1 MATIC has a USD equivalent of $0.00263, and the price in BNB will be determined 1-day prior to the token sale.

Binance research’s In-depth report calls the Matic network a layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.

MATIC will be the first token to be launched via Launchpad’s updated lottery format, something which has been met with both praise and displeasure from various groups within the crypto community.

Adversaries of the new format argued that the lottery format - which will require participants to hold a certain amount of BNB in order to be in for a chance at ‘winning’ token allocation – would exclude smaller investors and those who don’t hold BNB.

However, CEO of Binance, CZ recently addressed the outcry, pledging to lower the minimum buy in from 100 BNB to 50 BNB, something which has been initiated on the upcoming MATIC sale:

In the moments since the announcement, BNB is citing an impressive pump of 3.5% in an impressive display of the powers of the Launchpad token sale and perhaps indicating a clever move to increase the utility of BNB within Launchpad.

Read more: Binance attempts to make Launchpad 'fairer' with new 'lottery' format

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