U Network to Buy Own Tokens

The company launched the BuyBack program in an attempt to redeem the tokens from early investors to support own ecosystem
23 July 2018   1419

The increased interest of investors for U Network ICO led to the fact that the developers did not have their own UUU token to maintain the ecosystem. The company launched the BuyBack program in an attempt to redeem the tokens from early investors who received them in February via AirDrop, CoinDesk reports.

According to available information, the project will acquire UUU tokens per thousand Ethereum in several stages. So, on the first of them 200 ETH will be spent on the purchase, the price of the token will be from $ 0.004 to $ 0.005.

It should be noted that at the start-up phase, the issue of tokens was limited to 10 billion.

I think this case illustrates the huge trade-offs founders face. If they keep too many tokens in reserve, they are often accused of being greedy. But if they give away too many tokens then they lose a crucial lever they need to incentivize people to use their platform or service in the future.

Catherine Tucker 

Professor of management and marketing, Massachusetts Institute of Technology

According to Catherine Tucker, professor of management and marketing at Massachusetts Institute of Technology, the situation with U Network proves that startups do not have a specific methodology for calculating the required number of tokens.

Binance Launchpad to Change IEO Rules

Binance is going to implement the lottery format for the next tokensale campaign
25 March 2019   61

Binance announced a change in the format of the next tokensale on the Launchpad platform to a lottery. At the same time, the number of lottery tickets per account will depend on the size of the steak in the BNB for 20 days before IEO.

Note that one account can get up to 5 lottery tickets. Winners will be selected by randomizer.

BNB Balance to Lottery Tickets Ratio
BNB Balance to Lottery Tickets Ratio

It is noteworthy that within 20 days before the lottery, the BNB-deposit snapshot will be carried out daily at 0:00 UTC to monitor the fulfillment of the conditions.

Each winning ticket will grant the right to purchase tokens for a fixed amount in BNB equivalent. As soon as the user informs the exchange that he is ready to use a certain number of tickets in case of their winnings, this obliges him to purchase tokens and the money will be debited automatically.

Binance acknowledged that the price of BNB may fluctuate due to daily snapshots, and its potential decline may not be covered by the benefit from the new token, and encouraged users to make informed decisions.

In addition, Changpeng Zhao urged the community to comment on the new format in a separate Twitter thread in order to make the necessary feedback-based changes, if needed.

During the Celer Network tokensale on the Launchpad platform again had bandwidth problems; many people did not manage to purchase tokens.