The cryptocurrency exchange announced on its website that the Harmony token sale will follow Binance’s modified lottery format.
Changes to the format now allows Binance to calculate the average BNB holdings on each account over the holding period, as well as enables users to sign the Token Purchase Agreement at any time up until the end of the ticket claim period.
From May 16 to May 19, Binance users can begin depositing or purchasing BNB into their accounts and signing the Token Purchase Agreement.
The exchange will begin recording its users’ BNB balances on May 19 at 11:59 p.m. UTC.
On May 26, final BNB balances in user accounts will be recorded to determine their eligibility to claim lottery tickets.
Ticket claim will be opened for 24 hours on the following day for all eligible users, then closed on May 28, which is when the lottery draw will take place and the winning tickets will be announced.
The respective BNB will also be deducted from the winning users’ accounts on May 28.
There will be a total of 1,575,000,000 ONE tokens allocated to Binance Launchpad for the Harmony token sale.
To check the calculation for the average BNB holdings and more details about the sale, read here: https://binance.zendesk.com/hc/en-us/articles/360028476111