By
Chimamanda U. Martha
May 6th, 2024
Harmony Protocol initial exchange offering (IEO) went through its lottery ticket claim on Binance. The highly publicized token sale performed well, comparable to other Binance-based IEOs.
After surviving sixth-largest hack of a cryptocurrency exchange in history, Binance has reopened its doors, coming with another multi-million project. Binance Launchpad has today completed the sale of Harmony (ONE) tokens. This is the fifth token sale of Binance Launchpad this year and the second token sale under the new lottery rules.
The token sale went through a single session where participants purchased Harmony tokens using Binance Coin (BNB). In this session, all 1.58 billion ONE tokens were sold to Launchpad participants who drew and claimed winning lottery tickets.
The timeline below provides an overview of how the Harmony (ONE) token sale was conducted:
May 26, 2019 23:59:59 (UTC): Binance Launchpad recorded final BNB balances in user accounts.
May 27, 2019 06:00 (UTC): The ticket claim process opened for all eligible users for a 24-hour period. Users could also sign the Token Purchase Agreement during this time.
May 28, 2019 06:00 (UTC): The ticket claim process closed. 22,891 users participated in the lottery claiming a total number of 54,076 tickets. Binance Launchpad began the lottery draw.
May 28, 2019 08:00 AM (UTC): Binance Launchpad announced that there were 16,666 winning tickets, held by 12,977 total winners. That puts the percentage of winning tickets at 30.81%, among all 54,076 tickets claimed.
The winners’ BNB balances will be deducted based on their number of winning tickets within 24 hours. If you won the lottery, please ensure that you have sufficient BNB in your account to purchase your ONE token allocations.
Created to Provide Decentralization at Scale
As it’s said from Binance, they’ve launched a Harmony Lottery program in order to promote the Initial Exchange Offering (IEO) of Harmony Token. Through it, 10 participants could win one of 10 exclusive prizes each, and each prize is worth over $300. To participate in the contest, one needed to tweet the eight digit ticket number with the #HarmonyLottery, and follow Binance and Harmony on Twitter.
Created as a fast and secure blockchain to fight problems regarding highly volatile crypto industry, scalability, security, and decentralization, Harmony was built by a team of engineers from Google, Apple, Amazon, Harvard and Stanford.
Harmony helps businesses build marketplaces of fungible tokens (such as energy credits and loyalty points) and non-fungible assets (such as game collectibles and real estate). It has a robust ecosystem building strategy focused on creating partnerships that drive adoption of the protocol. At scale, Harmony helps businesses tokenize their assets and incentivize user engagement.
So far, Binance Launchpad has proven itself to be a major catalyst for projects featured on it. Harmony Protocol’s Co-Founder Nick White said:
“Working with the world’s leading cryptocurrency exchange will help Harmony reach more users throughout the entire world and get them closer to the realization of their vision which is to scale trust to billions of people.
The team is very motivated by the global outlook of Binance, especially when it comes to applying blockchain technology to developing regions such as Latin America and Africa. Harmony will find truly impactful use cases in places of the kind.”
By now, Harmony has already released its test-net 3.0, deployed a network of 40,000 AWS/GCP/Azure nodes in 100 separate shards (400 nodes each), and managed to perform 118,000 TPS. In the second quarter of 2019, the team is planning to roll out the main-net, with the full version released in the third quarter of this year.
Recently, Harmony has launched Harmony Puzzle for user testing. In the near future, it is set to launch to Contentos’ platform, with the goal of engaging 50,000 users.
*To find all the comprehensive information about Initial Exchange Offerings, please check out our IEO Guide.