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 Once a buy order is placed, it cannot be withdrawn.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
Gold price moves closer to three-week peak amid modest USD downtickGold price (XAU/USD) attracts some dip-buying during the Asian session on Tuesday and reverses a major part of the previous day's retracement slide from a nearly three-week high.
Author  FXStreet
23 hours ago
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Tuesday and reverses a major part of the previous day's retracement slide from a nearly three-week high.
placeholder
S&P 500 hits a new all time of 6,300 for the first time everThe S&P 500 broke through 6,300 for the first time in history on Tuesday, as rising demand for crypto stocks and tech names sent U.S. markets higher across the board.
Author  Cryptopolitan
22 hours ago
The S&P 500 broke through 6,300 for the first time in history on Tuesday, as rising demand for crypto stocks and tech names sent U.S. markets higher across the board.
placeholder
Japan’s bond market is falling apart in real time after bond values crashJapan’s bond market is falling apart in real time. The 30-year Japanese bond yield jumped to 3.20%, a fresh record.
Author  Cryptopolitan
21 hours ago
Japan’s bond market is falling apart in real time. The 30-year Japanese bond yield jumped to 3.20%, a fresh record.
placeholder
EUR/USD sinks towards 1.1600 as US inflation rises and crushes Fed cut hopesThe EUR/USD fell some 0.55% on Tuesday after the latest US inflation report revealed that prices are edging higher, justifying the Federal Reserve's current policy stance.
Author  FXStreet
6 hours ago
The EUR/USD fell some 0.55% on Tuesday after the latest US inflation report revealed that prices are edging higher, justifying the Federal Reserve's current policy stance.
placeholder
Japanese Yen remains vulnerable near multi-month low against USDThe Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday.
Author  FXStreet
4 hours ago
The Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday.
goTop
quote