Announcement from Binance.com
Binance will record user BNB balances for 10 days from 2021-11-06 00:00 AM (UTC) to 2021-11-16 00:00 AM (UTC). The final BNB holding amount for each user will be determined as the average of the 10 days, using the Daily Average BNB Balance calculation previously announced here.
PORTO Token Sale Details:
- Token Name: FC Porto Fan Token (PORTO)
- Launchpad Hard Cap: 4,000,000 USD
- Hard Cap Per User: 10,000 USD (10,000 PORTO)
- Total Token Supply: 40,000,000 PORTO
- Total Tokens Allocated to Binance Launchpad: 4,000,000 PORTO (10% of Total Token Supply)
- Public Sale Token Price: 1 PORTO = 1 USD (price in BNB will be determined prior to subscription)
- Token Sale Format: Subscription
- Supported Sessions: BNB only
Subscription Timeline:
- Preparation Period 2021-11-06 00:00 AM (UTC) to 2021-11-16 00:00 AM (UTC): During this period, user BNB balances will be calculated in hourly snapshots for each day over a 10-day period. Your final average daily BNB balance over these 10 days will determine the maximum amount of BNB that you can commit later on.
- Subscription Period 2021-11-16 06:00 AM (UTC) to 2021-11-16 09:00 AM (UTC): Subscription will open at this time for all eligible users for a 3 hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Please note that once committed, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.
- Calculation Period 2021-11-16 09:00 AM (UTC) to 2021-11-16 10:00 AM (UTC): Subscription closes and token allocation calculation begins.
- Final Token Distribution 2021-11-16 10:00 AM (UTC): Your final token allocation will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. Once deducted, your PORTO and BNB tokens will both be transferred to your spot wallet.
To learn more about FC Porto Fan Token (PORTO), read Binance Research’s in-depth report here.
Further information:
FC Porto Fan Token Project Links:
Reminder: Users need to complete their account verification and also be from an eligible jurisdiction to participate in this token sale.
* Users from the following countries or regions will not be able to participate in token sales on the Binance Launchpad platform:
Belarus, People’s Republic of China, Democratic Republic of Congo, Cuba, Iraq, Iran, North Korea, South Sudan, Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Zimbabwe.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.
Thanks for your support!
Binance Team
2021-11-05
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.