MultiversX Tracker is Live!

Binance lauchpad: does it worth?

Binance

Cryptocoins Exchanges / Binance 231 Views

It is the second time that I participate in Binance lauchpad. I cannot complain much, since there is a large ROI (although a very small allocation), but still... a lot of things dont match, and I would like to share some thoughts with this community.

The main problem is that the token unlocking schedule is not evenly met to everyone, the unlocking time rules are not fully open or are not accomplished, and some folks are able to sell their tokens at very high prices much before my tokens even arrive at my wallet. LetΒ΄s see what happened in the Lazio token launch example.

**Lazio token launch**

*Rules*

According with Binance schedule, all BNB commitments ended on 21st October at 10:00 AM (UTC). All Lazio tokens were supposed to be unlocked at 11:00 AM (UTC) of the same day.

*Problems*

  1. Something that is not said in the launchpad rules, but that experienced users know (I had forgotten) is that trading only opens one hour after unlocking time. The fact that trading opens one hour late is not a problem. It could be even a good thing if this time was clearly written in the schedule and it was used by Binance to guarantee that all buyers get their tokens before the trade opens. However, neither is true.
  2. I only received my tokens at 12:21 PM, 21 minutes after the trading started, by this time the token price had already fallen from $100 to $21.

*Does it worth?*

Ok, I had only paid $1 for each token, so I got a 20x return in a couple of hours. However, my allocation size was only of $1.6, so I got only $35. Looks like free money, right? Not quite. My BNB commitment was equivalent to $1,500. I had to leave this money parked at my spot wallet for a week to have the subscription right. This makes a 2% return in a week. Looks a lot for traditional finance, but in this same week, BTC went up 10% and Ethereum and Solana went up 20%.

In addition, I had to wake up at 6:00 am (of my country time) to make the subscription and I was stuck at home for 3.3 hours before my tokens were unlocked. Arrive kind of late in my job, and 3 hours of my work definitely worth more than $35.

Lastly, despite the small profit, there is the feeling that the rules are not the same for everyone, that some insiders get their tokens early. That is the worst part of it, to feel that you take part of something unfair. So no, it did not worth for me.

submitted by /u/MammothCompote5249
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments