ICO’s are part of a new way of raising capital to collect large amounts of money in a short timespan. With Launchpad, Binance is launching its own platform for future Initial Coin Offerings.
Binance intends to carry out ICOs on the Launchpad token sales platform almost every month in 2019. TRON’s BitTorrent and Fetch.ai are two of the first token sales that will be launched on the new platform. Binance wants to improve the bad image of ICO’s since they have been put in a bad light by a lot of scams.
According to the company, all projects applying to launch an ICO will undergo an extensive selection process. Furthermore, this method will comply with all applicable laws so that that acceptance can increase with an appropriate regulatory framework. The CEO and founder of Binance wants to contribute to the further development and adaptation of the ecosystem with Launchpad.
“THE BINANCE LAUNCHPAD TOKEN LAUNCH PLATFORM HELPS BLOCKCHAIN PROJECTS RAISE FUNDS AND INCREASE THEIR REACH ACROSS THE CRYPTO ECOSYSTEM. WE DO THIS BY OFFERING A PROJECT’S TOKENS TO UP TO MORE THAN 10 MILLION BINANCE USERS*. WITH THIS PLATFORM, WE GRANT OUR USERS THE CHANCE TO BE PART OF POTENTIALLY GAME-CHANGING PROJECTS.”
Launchpad will initially only be available in a few selected countries. In the USA, China, South Korea and in some other countries the legal framework still has to be adapted.
TRON’s BitTorrent token sale will be launched on the Launchpad platform. BTT is one of the first tokens sold on the platform and will be deployed on BitTorrent to enable users to pay for larger bandwidths and consequently faster downloads.
However, the ICO still has no defined launch date yet. In any case, Binance’s Launchpad could change the entire ICO Landscape and give it a more professional image.