Staking It All on Cartesi: Why Last Year\'s Binance Launchpad Is This Year\'s Great Hope

The following is a contributed article from a content partner of Benzinga Following the high-risk Initial Coin Offering (ICO) frenzy of 2017, the market desperately needed a more secure environment for blockchain startup launches. In 2019, cryptocurrency exchange giant Binance sought to deliver such a platform, introducing Binance Launchpad. It pioneered Initial Exchange Offering (IEO) fundraising events, administered by the exchange, where investors could purchase tokens directly from their Binance exchange wallets. The safety and convenience of such a venue proved to be a success. The first official IEO for BitTorrent sold out its $7.2 million hard cap for BTT tokens in just 15 minutes. Other IEOs followed, and notable projects like Elrond and Matic raised $3.25 million and $5 million respectively, climbing into the top 100 cryptocurrencies by market cap. Their token sale allocations were sold in full, and they were among the first IEOs under new Binance Launchpad rules with a lottery system introduced due to overwhelming demand. The success of Binance Launchpad led other exchanges to follow suit, with Huobi Prime, OKEx Jumpstart, and KuCoin Spotlight all coming to market just a few months later. The change of rules ...Full story available on Benzinga.com