League of Kingdoms Token Sale on Binance Launchpad to Begin on January 12

| Updated
by Sanaa Sharma · 3 min read
League of Kingdoms Token Sale on Binance Launchpad to Begin on January 12
Photo: Binance / Twitter

The rate for 1 LOKA is valued at 0.16 USD while the price in BNB will be assigned before the subscription.

Binance has revealed its twenty-sixth project on Binance Launchpad, called the League of Kingdoms (LOKA).

The token rollout for League of Kingdoms will observe the Binance Launchpad subscription format, wherein the customer can reserve a specific share of BNB for the token sale. The ultimate allotment of the token is eventually done as a fraction of their reserved share to the total amount collected by all the participants. The recording of the participants’ BNB balances will commence at 2022-01-12 00:00 AM (UTC).

Binance will document user BNB balances for eight days from 2022-01-12 00:00 AM (UTC) to 2022-01-20 00:00 AM (UTC). The conclusive BNB reserved amount for every participant will be ascertained as the mean of the eight days, using the Daily Average BNB Balance calculation.

Some of the important LOKA Token Sale Details were posted recently on the Binance website. The Launchpad hard cap, which is technically an upper limit on the number of tokens sold, is around 4,000,000 USD. While that is true, the Hard Cap per user is precisely 15,000 USD (93,750 LOKA).
While the cumulative token supply amounts to 500,000,000 LOKA, 25 million of them are allotted to the Binance Launchpad (nearly 5% of the total). The rate for 1 LOKA is valued at 0.16 USD while the price in BNB will be assigned before the subscription.

The schedule for the launch is also intricately explained in the recent post on the Binance website. During the preparation period, the user’s BNB balance will be determined in hourly intervals every day for eight days consecutively. The preparation period begins at 00:00 AM (UTC) on the 12th of January and ends on the 20th January at 00:00 AM. The mean aggregate after eight days will determine how much BNB a user can commit to in the future.

On the other hand, the subscription period which starts on the 20th of January will remain open for 3 hours. All the permitted users will be made to sign the Token Purchase Agreement at that very moment, before reserving their BNB. Once committed or reserved, the BNB will be locked and the users won’t be allowed to unlock or avail of any other functionalities like transfers, withdrawals, etc.

Subsequently, the calculation period will open at 9:00 AM (UTC) on the 20th and will extend for approximately one hour. This is the period when the subscription for the token sale concludes and the token allotment commences.

Ultimately, the Final Token Distribution will take place at 10:00 AM (UTC) on the 20th of January. The final token allocation will be determined and the associated BNB will be subtracted from the user’s already reserved BNB sum. Once this process has taken place, the LOKA and BNB tokens will successfully be shifted to the user’s spot wallet.

Altcoin News, Blockchain News, Cryptocurrency news, News
Sanaa Sharma
Author Sanaa Sharma

Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.

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