Binance has announced that the seventh project to launch its token sale on Binance Launchpad this year will be WINk (WIN), which is a gaming-focused decentralized application (DApp) platform. The WIN token sale has been scheduled to begin on July 24 (at 00:00 UTC).
A Brief History of Binance Launchpad
It was on 15 November 2017 at the Bitcoin Future Conference where Changpeng Zhao (aka "CZ"), Co-Founder and CEO at Binance, introduced its token launch platform for the first time:
In December 2017, Binance Launchpad was successful in selling US$6 million worth of BREAD tokens within 216 seconds and $3.4 million worth of GIFTO tokens in 98 seconds.
However, it was not until January 2019 when Binance's token launch platform really started to make a name for itself. On 3 January 2019, Binance announced that one new token would be launched every month in 2019, starting with BitTorrent (3 February 2019) and Fetch.AI (2 March 2019).
Since then, there have been four other highly successful initial exchange offerings (IEOs) on Binance Launchpad: Celer Network; Matic Network; Harmony; and (most recently) Elrond.
What is WinK?
WINk is a gaming-focused DApp platform. According to Binance's blog post (published on July 22), WINk, which was formerly known as TRONbet in a "previous incarnation", is aiming to "become the blockchain industry’s premier gaming platform for users to play, socialize, and stake across multiple blockchain ecosystems," and that WINk currently "boasts the largest library of games on the blockchain, such as Poker, Dice, and Slots, which have engaged a community of over 16,000 players."
Binance Research says that:
- WINk's ecosystem "provides quality gaming experiences, enables developers to build dApps that drive adoption, and engages users to participate as active stakeholders."
- The reason for rebranding from TRONbet to WINk is to "further reflect an ongoing commitment to community building and platform expansion."
- WinK provides tools and APIs that allow development teams to "seamlessly integrate their projects or create unique gaming dApps from scratch."
- Wink benefits from a strategic partnership with TRON.
It also says that in contrast to more centralized gaming platforms, the TRON-based WINk platform "provides a unique and compelling user experience":
- Games have smart contracts that can be audited.
- With most games, users have full custody of their funds.
- Users are incentivized to keep playing via crypto tokens and other rewards.
The WIN token, which is a TRC-20 token built on the TRON blockchain, is the "native digital asset to be used in the WINk platform."
Here are some of WIN's use cases:
- "WIN holders receive Win Power for staking WIN tokens"
- You can receive airdrops for HODLing WIN tokens
- WIN holders have influence over "the development and direction of the platform through its governance mechanism"
- WIN tokens provide access to exclusive events such as "celebrity poker tournaments or car giveaways"
WINk's Token Sale
The public sale of WIN tokens will be held on Binance Launchpad and will begin on July 24 at 00:00 UTC. The token sale will once again be following a lottery format, but with updated lottery rules; e.g., you can now have a maximum of 25 instead of 5 claimable tickets.
The launchpad sale allocation is 5% of the total supply (999,000,000,000 WIN). The issuing price is $0.0001201 ("price in BNB will be determined prior to the lottery draw date")
Binance's support article on the WINk (WIN) token sale says:
- the recording of users' BNB balances starts on July 24 at 00:00 AM (UTC);
- the users' BNB balances will be "snapshotted at 0:00 AM UTC each day";
- "BNB in Binance Margin Accounts will not count towards each user’s BNB balance for Launchpad ticket claim"; and
- "the number of claimable tickets and the corresponding amount of BNB required for each category has also been updated".
The following image from Binance perfectly illustrates the lottery timeline for the WINk token sale:
What CZ Thinks About This IEO
CZ had this to say about the launch of WINk on Binance Launchpad:
Compared to centralized marketplaces, decentralized gaming platforms provide a wide range of tangible benefits from allowing users to keep complete custody of their funds, to fairness and security ensured by auditable smart contracts. We hope that hosting WINk on Binance Launchpad will showcase the advantages of blockchain-based gaming and help advance this space for others.
Images Courtesy of Binance