Aspecta (ASP) Surges Over 36% Following Collaboration with Binance to Launch BuildKey TGE

Aspecta (ASP), the native asset of a liquidity blockchain protocol under the same name, has surged by double digits within the last 24 hours. The rally could be tied to news of the project’s partnership with the crypto exchange Binance to launch a new token generation event (TGE) model.

Data from CoinMarketCap shows the ASP token jumping 57% from $0.14 to $0.22 in under 30 minutes. The asset had declined slightly at the time of writing and was trading at $0.18, marking a 36% surge. Aspecta’s price is not the only metric that experienced a surge; the cryptocurrency’s 24-hour volume ballooned by more than 1,800%.

Aspecta’s New TGE Model

As an artificial intelligence (AI)-powered blockchain platform, Aspecta aims to address a gap in capital markets by utilizing decentralized reputation systems. It aims to enable early-stage projects to enter public markets without creating volatility and mistrust, especially with liquidity. Aspecta unlocks liquidity for illiquid assets like private equity, pre-TGE shares, and real-world assets.

BuildKey is the solution central to Aspecta’s strategy. The product tokenizes illiquid assets into tradable credentials built with the ERC-20 token standard. While ASP powers the Aspecta network via governance and staking capabilities, BuildKey helps early projects to represent and trade their illiquid assets more openly.

Binance said it is partnering with Aspecta to make this TGE model exclusive. Unlike traditional models, BuildKeys can be traded before the official token launch and are not transferable outside the TGE system. They represent token allocations, and holders can only trade the credentials in designated pools or redeem them for project tokens at TGE.

How Does BuildKey TGE Work on Binance?

To receive BuildKeys, users have to deposit Binance Coin (BNB) on Aspecta through the Exclusive TGE page on Binance Wallet. Afterward, they would receive some BuildKeys representing their token allocation. The allocation follows an oversubscription model, ensuring that Binance distributes tokens equally in the event of oversubscription.

After the deposit and allocation, users can trade their BuildKeys in a bonding curve liquidity pool. The pool has a model that ensures it does not exceed its hard cap. Buy orders are executed immediately if BuildKeys are available, until the pool reaches its hard cap. At that point, the orders must wait until other users sell their assets back into the pool. 

“Simultaneously, an additional allocation of BuildKeys is released by the project, subject to a hard cap. Binance Alpha Points are required to access trading, but will not be consumed. Users can buy or sell BuildKeys during this phase. Trading limits per wallet apply separately and do not include BuildKeys obtained in the deposit phase,” Binance explained.

Users can redeem their BuildKeys for project tokens when TGE begins. They can also sell their BuildKeys into the pool at current prices. Eventually, project tokens become transferable and tradable on Binance Alpha after liquidity is added.

Flexibility and Transparent Pricing

It is worth mentioning that, similar to a traditional TGE, the initial deposit and allocation phase is at a fixed price. BuildKey prices in the liquidity pool are dynamic and fluctuate according to demand. Binance noted that the final price of project tokens may not match users’ initial expectations due to trading activities in the bonding-curve pool.

The TGE model has four stages: Deposit BNB, BuildKey Trading, TGE and Redemption, and Post-TGE. This approach offers projects more flexibility and transparent pricing. Binance will announce the first project to launch with the TGE model on September 18.

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