Band Protocol Token Sale Details On Binance Launchpad – How To Join And Buy Band Protocol (BAND) Token?
About Band Protocol (BAND)
What Is Band Protocol (BAND)?
Band Protocol aims to be the go-to data infrastructure layer for Web 3.0 applications by providing decentralized, curated off-chain data to smart contracts through oracles managed by its dPoS consensus mechanism.
Band Protocol (“Band”) uses a unique delegated proof of stake mechanism to elect oracle data providers who report data onto the blockchain, making it ready to be queried by dApps and smart contracts.
A unique multi-token model which allows each dataset and its token to retain network values and provides the right economic incentive to all stakeholders.
Band Protocol solves the issues plaguing current data infrastructures and decentralized technologies as a whole. It is estimated that over 1.2 million terabytes of data are stored on the web and currently much of this is unstructured or unreliable. Through a standard framework, Band creates a community-driven data curation ecosystem that is secure, reliable and accessible. Band provides a socially scalable method for widespread adoption and integration of trusted data that all applications can utilize.
The BAND Token aims to capture the network value of Band Protocol, rather than just being a simple payment token.
Key Features And Highlights
Band Protocol offers a decentralized data oracle by making data readily available to be queried on-chain, using delegated proof of stake (“dPoS”) to ensure data integrity. Band Protocol offers the following features:
Decentralized economic incentive: Band Protocol is designed to let data providers have economic and reputation at stake to remain honest.
Low-cost: Band’s smart contracts are optimized for gas usage.
Scalable: Costs for data providers remain constant regardless of how many dApps are using their data. Once a datapoint is put on-chain, multiple smart contracts can consume the data without added cost to data providers.
Fast data query: Logic can be processed within one transaction, requiring no blockchain confirmation. Data is readily available on blockchain so consuming data can be done synchronously within the same transaction.
Easy deployment: dApps can integrate with Band Protocol using a few lines of code with no major modification. Querying data on Band dataset requires only a function call on a predefined interface.
Band Protocol Roadmap
Band Protocol has not yet released a public roadmap, and plans to do so after the Launchpad Sale. The table below lists the accomplishments of the Band Protocol team thus far.
|2018: Q3||Whitepaper release||Whitepaper|
|2018: Q4||CoinHatcher alpha release||Medium|
|2019: Q1||CoinHatcher beta release with token integration||CoinHatcher|
|2019: Q1||Revised whitepaper release||Medium|
|2019: Q2||Private testnet release||Github|
|2019: Q2||Smart contract security audit||Medium|
|2019: Q3||Public testnet release||Medium|
Band Protocol Teams
The Band team consists of entrepreneurs and engineers with diverse backgrounds from Stanford, MIT, BCG, Hudson River Trading, Dropbox, and Quora.
Band Protocol Partners
Band Protocol (BAND) Token Information
– Token Name: Band (BAND)
– Ticker: BAND
– Token type: BAND will initially be issued as an ERC-20 asset.
– Total Token Supply: 100,000,000 BAND
– BAND Token Distribution:
+ Seed Sale: comprise 10.00% of total supply.
+ Private Sale: comprise 5.00% of total supply.
+ Launchpad Sale: comprise 12.37% of total supply.
+ Ecosystem Development: comprise 25.63% of total supply.
+ Team: make up 20.00% of total supply.
+ Advisors: comprise 5.00% of total supply.
+ Foundation: comprise 22.00% of total supply.
Learn More Information At:
– Telegram group: https://t.me/bandprotocol
– Twitter channel: http://twitter.com/bandprotocol
– Medium: https://medium.com/bandprotocol
Band Protocol Token Sale Details
Seed Sale Overview: The Seed Sale was conducted from August to October 2018 for $0.30 / BAND, and raised a total of $3.00MM, for 10.00% of the total token supply. Only USD was raised in the Seed Sale.
Private Sale Overview: The Private Sale was conducted from June to August 2019 for $0.40 / BAND, and raised a total of $2.00MM, for 5.00% of the total token supply. The Private Sale consists of 1,875,000 USD and 125,000 USDC.
Binance Launchpad Sale:
– Launchpad Ticket Claim Time: 2019/09/16 06:00 AM (UTC) – 2019/09/17 06:00 AM (UTC)
– Hard Cap: $5,850,000
– Total Tokens Allocated to Binance Launchpad: 12,368,200 BAND (12.37% of Total Token Supply)
– Public Sale Token Price: 1 BAND = $0.473 (price in BNB will be determined prior to the lottery draw date)
– Token Sale Format: Lottery & Airdrop
– Max Number of Winning Lottery Tickets: 19,500
– Allocation Per Winning Ticket: $300 (634.25 BAND)
– Maximum of Ticket for each user: 10 Ticket ($3,000)
– Total Airdrop Pool: 631,800 BAND (approx $300,000)
– Supported Sessions: Binance Coin (BNB) only
BAND Airdrop Details
For this Launchpad session, a pool of 631,800 BAND tokens (approx $300,000) will be split and airdropped to all launchpad participants that do not have a winning ticket.
The amount airdropped to each participant that does not have a winning ticket will be calculated as = (Number of non-winning tickets held by each non-winning participant / Total number of non-winning tickets across all non-winning participants) x Total Airdrop Pool. Please note that if you do have a winning ticket, you will not be eligible for the airdrop.
Example: User A claimed 3 tickets but did not have a winning ticket. The total amount of tickets across all users that did not have a winning ticket is 400,000 tickets. In this scenario, User A will receive an airdrop of 4.7385 BAND (631,800 BAND / 400,000 X 3).
How To Join And Buy Band Protocol (BAND) Token?
Here’s a step-by-step guide on how to participate in BAND Token Sale on Binance Launchpad
Step 1: Register And Verify Account On Binance Exchange: This is to ensure that token sales are being done in compliance with regulatory requirements in users’ jurisdictions.
Step 2: BAND Token Sale Rules
The Band token sale will follow a lottery & airdrop format, with the recording of user Binance Coin (BNB) balances already having started at 2019/08/17 00:00 AM (UTC).
To buy and hold Binance Coin (BNB): Please see tutorial at Binance Exchange Tutorial
Binance will record user BNB balances for 30 days from 2019/08/17 00:00 AM (UTC) to 2019/09/16 00:00 AM (UTC). The final BNB holding amount for each user will be determined as the average of the 30 days.
An example of the average BNB holdings calculation for each user is below.
Average BNB Holdings on each Day
|30-Day Average BNB Holdings||(100 + 100 +…+ 80 + 80) / 30 = 77.3 BNB|
|Total Eligible Ticket(s)||1 Ticket|
Lottery Ticket Allocation:
Users will be able to claim up to a maximum of 10 lottery tickets based on their daily average BNB holdings (represented by X below) over the 30-day period leading up to the lottery draw date.
Daily Average BNB balance (X)
No. of Lottery Tickets
|50 ≤ X < 100||1|
|100 ≤ X < 150||2|
|150 ≤ X < 200||3|
|200 ≤ X < 250||4|
|250 ≤ X < 300||5|
|300 ≤ X < 350||6|
|350 ≤ X < 400||7|
|400 ≤ X < 450||8|
|450 ≤ X < 500||9|
- 2019/08/17 00:00 AM (UTC) to 2019/09/16 00:00 AM (UTC): During this period, user BNB balances will be calculated in hourly snapshots for each day over a 30-day period. Your final average daily BNB balance over these 30 days will determine the number of tickets that you will able to claim.
- 2019/09/16 06:00 AM (UTC): Ticket claim will open at this time for all eligible users for a 24 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to completing the ticket claim. Please note that users will only be able to claim tickets once.
- 2019/09/17 06:00 AM (UTC): Ticket claim closes and the lottery draw begins.
- 2019/09/17 08:00 AM (UTC): Winning tickets are announced and the respective BNB will be deducted from each winning users’ accounts. Please ensure you have sufficient BNB in your spot exchange account to be deducted within 24 hours if you have a winning ticket. Please note that BNB in open orders, margin accounts or lending products will not be able to be deducted.
- 2019/09/17 08:00 AM (UTC): After this time, we will airdrop BAND tokens to all participants that did not have a winning ticket.
Step 3: Buy BAND Token
– Login Your Binance account and go to the Binance Launchpad page to find the BAND project
– Go to the BAND project page: Each Launchpad project requires a separate Token Purchase Agreement to be signed by each use
– On 2019/09/16 06:00 AM (UTC): Ticket claim will open at this time for all eligible users for a 24 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to completing the ticket claim. Please note that users will only be able to claim tickets once.
– On 2019/09/17 08:00 AM (UTC): Winning tickets are announced and the respective BNB will be deducted from each winning users’ accounts. Please ensure you have sufficient BNB in your spot exchange account to be deducted within 24 hours if you have a winning ticket. Please note that BNB in open orders, margin accounts or lending products will not be able to be deducted.
– Click on ‘Ticket Claim History’ at right top corner of page to check Your Lottery Results
– Get Your BAND Tokens soon: Within 15 days after the token sale ends, You will be credited with the respective tokens to Your Binance account.
– You will be able to either directly trade the BAND token on Binance Exchange or withdraw the tokens to Your personal wallet once the tokens are distributed.
* Users from the following countries will not be able to participate in token sales on the Binance Launchpad platform:
Afghanistan, Algeria, Albania, Belarus, Bolivia, Bosnia and Herzegovina, Burundi,
Cameroon, Central African Republic, Chad, Congo Republic, Côte d’Ivoire, Cuba, Democratic Republic of the Congo, Ecuador, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, Korea (North), Kyrgyzstan, Lebanon, Liberia, Libya, Mozambique, Myanmar, Macedonia, Pakistan,
Serbia, Sierra Leone, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Uganda, Uzbekistan, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Vanuatu, Venezuela, Yemen, Zimbabwe.
Risk Warning: Binance Launchpad is a high-risk investment channel. You should be sensible in Your participation and be aware of investment risks. We is not liable for Your investment gains or losses. The information we provide is for You to conduct Your own research. It is not investment advice.
Band Protocol Token Sale Details On Binance Launchpad – How To Join And Buy Band Protocol (BAND) Token? – Cryptokiemtien.com