The token launch platform of the major global crypto exchange Binance, Binance Launchpad completes a $4 million sale of Celer Network (CELR) tokens.
The company announced on March 19, that the sale was completed in 17 minutes and 35 seconds and all 597,014,925 CELR tokens sold in a single session. The CELR token sale only accepted Binance Coin (BNB), Binance’s own cryptocurrency as announced by the platform two weeks ago.
Each CELR token was worth 0.000434 BNB, i.e. equivalent to $0.0067 dollar. One BNB could purchase 2,303.35821 CELR tokens, the minimum investment amount was set at $20 and the maximum contribution amount was capped at $1,500.
An exclusive token launch platform by Binance, it aims at aiding blockchain startups that are looking to raise funding in order to further develop their products targeted at mainstream cryptocurrency adoption.
The Celer Network represents a layer-2 scaling platform focussed at enabling off-chain transactions for both payment transactions and generalized off-chain smart contracts.
Binance Launchpad has previously hosted two major tokens sales, Fetch.AI (FET) and the BitTorrent token (BTT). The latter’s sale concluded on January 28 and investors purchased all 50 billion BTT tokens, worth of $7.1 million, in less that 15 minutes. As for the FET token, the sale raised $6 million dollars on Feb. 25.
Image Source – Binance Website