Deutsch한국어 日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçe
Portfolio TrackerSwapBuy CryptoCryptocurrenciesPricingWalletNewsEarnBlogNFTWidgetsCoinStats MidasDeFi Portfolio Tracker24h ReportPress KitAPI Docs

Binance Announces Launchpad Token Sale for Tokocrypto's TKO

3y ago
bullish:

29

bearish:

1

image

Key highlights:

  • Indonesia-based crypto exchange Tokocrypto is launching its TKO token
  • Binance users can buy TKO in a Binance Launchpad token sale
  • Tokocrypto is looking to raise $7.5 million by selling 15% of the token's supply

The latest Binance Launchpad token sale will be for Tokocrypto's TKO

The Binance cryptocurrency exchange has unveiled the latest project that will be holding a token sale on the Binance Launchpad platform. Indonesia-based cryptocurrency exchange Tokocrypto is looking to raise up to $7.5 million by selling 15% of the total supply of its TKO token. 

It might seem strange at first that another exchange is holding its token sale on Binance, but the two exchanges do have a history together. In May last year, Binance announced that it had made an investment in Tokocrypto to explore opportunities in the Indonesian market. 

TKO is an exchange token, and bears a lot of similarity to coins like BNB, OKB and HT. Tokocrypto users who hold the token will enjoy discounted trading fees, as well as other perks like access to exclusive airdrops. TKO will also be used within the TKO NFT Arcade, a marketplace for NFTs that’s currently being developed by Tokocrypto.

Create Binance Account

The token will be issued as a BEP-20 standard token on the Binance Smart Chain blockchain platform. 

In the grand scheme of the cryptocurrency industry, Tokocrypto is still a relatively small exchange. According to Binance Research, the exchange has over 200,000 users. However, it does have the advantage of being regulated, as it’s registered with Indonesia’s BAPPEBTI agency.

The token sale itself will be using the new BNB subscription model instead of the previous lottery system. In this system, BNB holders can choose how many tokens they would like to commit towards the sale. The amount of TKO that each user is eligible to buy will ultimately depend on how many BNB they’ve allocated compared to the entire pool of BNB committed by all users. In order for the token sale to not be dominated by whales only, an individual user can buy a maximum of $20,000 worth of TKO. 

Binance will start recording users’ BNB balances on March 31, and this process will last 1 week. Users who meet all the requirements will be able to subscribe to the token sale starting with April 4.

3y ago
bullish:

29

bearish:

1

Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.