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Binance announces its 6th Launchpad token sale: Elrond (ERD)

Binance has just announced its 6th Launchpad token sale: Elrond (ERD)

The announcement came just moments ago, as the exchange relayed the details of its latest token sale.

Elrond will be Launchpad’s 6th token sale and will take place within Binace’s lottery format.

What is Elrond (ERD)?
Elrond is described as a high throughput public blockchain focused on providing security, scalability, efficiency and interoperability via the cutting edge technology of Adaptive state sharding, alongside a new secure proof of stake consensus mechanism.

When will the lottery begin?
As per the lottery format, Binance will start recording user BNB balances starting from 22nd of June 2019 at 12 AM UTC. During this period BNB balances will be recorded at a random time over a 9-day period. Final average balances after 9 days will determine ticket allocation.

 The ticket claim time will take place between the 1st of July at 6 AM UTC – 2nd of July 6 AM UTC, after which Binance will announce the results of the draw.

Token sale details:
The hard cap is placed at 3.25 million USD, with the token supply totaling 20,000,000,000 ERD.

The initial circulating supply is set at 37,5% of the total supply, the token sale will involve just 25% of the total token supply (5,000,000,000 ERD)

Allocation per winning ticket stands at 300 USD (461,538.46 ERD), and the max number of winning lottery tickets is 10833.