Space ID Launchpad Participants Beware Of Binance’s New Changes

Key Points:

  • Binance has updated the daily BNB balance calculation mechanism for Binance Launchpad after receiving feedback from users.
  • Multiple snapshots are taken at any given time instead of being installed hourly.
  • Space ID Launchpad participants may be unable to view their daily BNB balance records before the launchpad.
Based on customer feedback, Binance has made a number of changes to optimize the Launchpad product BNB location statistics logic, and upcoming Space ID Launchpad participants will need to comply.
Space ID Launchpad Participants Beware Of Binance's New Changes

According to the official announcement, based on recent community feedback, Binance discovered that some users used multiple accounts to test snapshot logic and borrowed large amounts of BNB on other platforms to conduct deposits and withdrawals of BNB with a high frequency, causing some users to obtain large quantities of BNB holding statistics in the Launchpad project.

To ensure fairness for all users participating in Launchpad, Binance decided to optimize the logic of BNB location statistics of Launchpad products, from updating snapshots at random times every hour to taking multiple snapshots at random times.

This optimization goes into effect at 00:00 on March 18, 2023 (UTC).

For users participating in Space ID Launchpad, this project’s BNB location stats will continue to be displayed as calculated until 03/22/2023 at 02:30 (UTC). Users may need help viewing their daily BNB balance profile on Binance Launchpad before this time.

Note that the VIP level of the user or the referral program will not be affected by the new rules.

With the popularity of the Web3 array, Domain projects in recent times are of great interest in the cryptocurrency investor community. Among them, SPACE ID, a project on BNB Chain, has just announced it will be the 30th project to be launched on the launchpad of the world’s largest exchange, Binance.

Space ID Launchpad Participants Beware Of Binance's New Changes

SPACE ID’s thriving ecosystem has solidified its position in the market with successful integrations with over 100 leading and reputable solutions, including BSCScan, Trust Wallet, and more.

The SPACE ID announcement said that the ID is the project’s governance token and plays an essential role in the project’s decision-making process by allowing users to have a say in the direction and future of SPACE ID.

The total supply of ID tokens is 2 billion tokens, with 100 million tokens (5% of the total supply) to be unlocked immediately upon launch on Binance Launchpad. The number of tokens distributed to the advisor team, investors, development team, ecosystem, marketing, foundation, and airdrop to the community will be unlocked gradually over time.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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