Binance Launchpad, the exclusive token launch platform of Binance that helps transformative blockchain startups raise funding to develop their products and drive user adoption, has completed the sale of The Sandbox tokens. This is the third token sale of Binance Launchpad this year.
The token sale was conducted through a single session where participants purchased The Sandbox (SAND) tokens using BNB. In this session, all 360,000,000 SAND tokens were sold to Launchpad participants who drew and claimed winning lottery tickets.
The timeline below provides an overview of how the SAND token sale was conducted:
August 13, 2020, 00:00 (UTC): Binance Launchpad ended the 7-day period for recording BNB balances on an hourly basis each day.
August 13, 2020, 06:00 (UTC): The ticket claim process opened for all eligible users for a 24-hour period. Users could also sign the Token Purchase Agreement during this time.
August 14, 2020, 06:00 (UTC): The ticket claim process closed. 23,249 users participated in the lottery claiming a total number of 164,893 tickets. Binance Launchpad began the lottery draw.
August 14, 2020, 08:00 (UTC): Binance Launchpad announced that there are 15,000 winning tickets, held by 12,225 total winners. That puts the percentage of winning participants at 52.58% of all 23,249 users and the percentage of winning tickets at 9.10% of all 164,893 tickets claimed. The winners’ BNB balances will be deducted based on their number of winning tickets within 24 hours. If you won ticket(s) in the lottery, please ensure that you have sufficient BNB in your account.
The Sandbox is a community-driven gaming platform that will allow creators to monetize assets and gaming experiences on the blockchain. The Sandbox team is building a unique virtual world where players can build, own, and monetize their gaming experiences using SAND, the main utility token of the platform, and Non-Fungible Tokens (NFTs). SAND holders will be also able to participate in the governance of the platform via a Decentralized Autonomous Organization (DAO), where they can exercise voting rights on key decisions of The Sandbox ecosystem.
For more information about SAND tokens, read this comprehensive research paper on The Sandbox, provided by Binance Research.