Binance has launches a new token generation event (TGE) mechanism

Source Cryptopolitan

Binance has launched a new token generation event (TGE) mechanism that enables real-time price discovery to facilitate user demand. Similar to the Pump.fun model, the system utilizes a dynamic bonding curve to change the price of the tokens during the event, which aims to present a transparent and competitive experience to the Binance Wallet users.

The new model is set to be presented on July 15, and the project’s first announcement will appear in the Binance Wallet official X account. This is the first bonding curve token sale experiment by Binance, which was built in collaboration with memecoin launchpad Four.Meme.

Buy orders will be processed on a first-come, first-served basis. Raising the demand will result in higher prices, and the current holders can sell to recycle the token supply. The event facilitates non-tradeable tokens throughout the TGE period, which will be offered on Binance Alpha after the event is over.

User eligibility and trading rules set strict conditions

To participate, users need to have sufficient Binance Alpha Points and BNB in their Keyless Binance Wallet. Once a buy order is placed, it cannot be withdrawn. The BNB is locked during the event. The unfulfilled orders and unused BNB will be recouped at the end.

The company pointed out that the event does not promise to reach all buyers. In the event that the token cap is achieved, new purchases can only occur based on existing holders selling their tokens. This ensures continued liquidity and equal access to all, but also creates volatility when prices vary due to demand. “All unfulfilled orders and unused BNB are refunded at the end of the event,” Binance added.

Binance Alpha Points constitute a key element of the eligibility system. Traders have recently raised concerns about the increase in the thresholds to qualify for the airdrop. The new TGE model includes another dimension to Alpha’s role in the platform’s wider ecosystem.

A response to rising memecoin competition

The announcement comes as Binance is under pressure from other launchpads. Pump.fun has recently completed a token sale on several centralized exchanges such as Gate.io and Bybit. In the meantime, LetsBONK, a memecoin launch platform on Solana, overtook Pump.fun in launch frequency, trading volume, and token graduates.

The recent initiation of the new model of Binance indicates a strategic reaction to the emergencies. In contrast to the free airdrops during previous token distribution campaigns, the Binance method involves active involvement and dedication. The event format combines token acquisition, trading, and price discovery into a single process, strengthening the competitive advantage of the Binance ecosystem.

Four.Meme’s ecosystem is currently estimated at approximately $368 million on Monday, and will be the first entity to experiment with the format in Binance Wallet.

Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Dips to Two-Week Low Around $113K Ahead of Fed Jackson Hole EventBitcoin continued its downward trajectory on Wednesday, hitting a two-week low as investors trimmed their positions ahead of the Federal Reserve’s upcoming Jackson Hole symposium.
Author  Mitrade
8 Month 20 Day Wed
Bitcoin continued its downward trajectory on Wednesday, hitting a two-week low as investors trimmed their positions ahead of the Federal Reserve’s upcoming Jackson Hole symposium.
placeholder
UK Inflation Climbs to 3.8% in July, Approaching 4.0% PeakUK consumer price inflation edged up to 3.8% in July from 3.6% in June, slightly surpassing the consensus forecast of 3.7%, official figures showed Wednesday.
Author  Mitrade
8 Month 20 Day Wed
UK consumer price inflation edged up to 3.8% in July from 3.6% in June, slightly surpassing the consensus forecast of 3.7%, official figures showed Wednesday.
placeholder
OpenAI Introduces Lowest-Cost ChatGPT Subscription in India with UPI Payment OptionOn Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
Author  Mitrade
8 Month 19 Day Tue
On Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
placeholder
Small Caps and Value Stocks Lead Gains as S&P 500 AdvancesLast week, the S&P 500 continued its upward momentum despite notable shifts in market leadership.
Author  Mitrade
8 Month 19 Day Tue
Last week, the S&P 500 continued its upward momentum despite notable shifts in market leadership.
placeholder
Australian Consumer Confidence Hits 3-Year High on RBA Rate CutsAustralian consumer sentiment soared to its highest level in over three years in August, buoyed by recent Reserve Bank of Australia (RBA) rate cuts and easing cost-of-living pressures, according to a Westpac-Melbourne Institute survey released Tuesday.
Author  Mitrade
8 Month 19 Day Tue
Australian consumer sentiment soared to its highest level in over three years in August, buoyed by recent Reserve Bank of Australia (RBA) rate cuts and easing cost-of-living pressures, according to a Westpac-Melbourne Institute survey released Tuesday.
goTop
quote