Binance has announced the opening of subscriptions for the highly-anticipated Arkham (ARKM) token sale on its Launchpad platform. With the subscription window lasting for 24 hours, users can now check their eligibility and commit their BNB tokens based on their past six-day average BNB holdings.
Introducing the Price Limit Mechanism
To ensure a smooth trading experience and protect users from potential volatility, Binance will trial an initial price limit mechanism for the first five minutes of trading after launch. During this period, the maximum transaction price will be set at ten times the public sale token price, which, in the case of ARKM, is $0.50 (ten times the public sale token price). After this initial period, trading will proceed without any restrictions.
Arkham (ARKM) Subscription Details and User Guidelines
The subscription period allows users to commit their BNB tokens between 2023-07-17 06:00 (UTC) and 2023-07-18 06:00 (UTC). Users can subscribe to BNB at any time during these 24 hours. However, it is essential for users to sign the ARKM Token Purchase Agreement before committing to their BNB.
- Arkham (ARKM) token price: 1 ARKM = 0.00020576 BNB or 0.05 USD (based on BNB price of 243 USD).
- Subscription period: Users can commit BNB between 2023-07-17 06:00 (UTC) and 2023-07-18 06:00 (UTC). A signed ARKM Token Purchase Agreement is required.
- Maximum BNB commitment: Calculated based on the user’s past six-day average BNB balance.
- BNB commitment restrictions: Only BNB in user spot wallets can be used. BNB in Launchpool or BNB Vault must be redeemed to spot wallet first.
- Lock-up period: Committed BNB will be locked and inaccessible until final token distribution.
- Token allocation: Calculation begins after the subscription period ends and takes one hour. Results were announced on at 2023-07-18 07:00 (UTC).
- Token deduction: BNB will be deducted from the locked amount within 60 minutes after the allocation results. ARKM and remaining BNB transferred to spot wallet.
- Hard cap: Each user can allocate a maximum of 15,000 USD (300,000 ARKM or 61.728 BNB). For detailed calculation rules, click here.
- ARKM smart contract: ERC20.
The maximum amount of BNB that each user can commit has been calculated based on their past six-day average BNB balance. It’s important to note that only BNB in user spot wallets can be used for the commitment. Users with BNB in other accounts such as Launchpool or BNB Vault will need to redeem them to their spot wallet before participating.
Token Allocation and Final Results
Once the subscription period ends at 2023-07-18 06:00 (UTC), the ARKM token allocation calculation will begin and take a total of one hour. The final ARKM token allocation results will be revealed on at 2023-07-18 07:00 (UTC). At this point, the respective BNB will be deducted from the already-locked BNB amount within 60 minutes. Subscribers will then receive their ARKM tokens and remaining BNB tokens, transferred to their spot wallets.
Conclusion
With a hard cap of 15,000 USD (300,000 ARKM or 61.728 BNB) allocated per user, Binance’s Arkham (ARKM) token sale presents a unique opportunity for the crypto community. As users eagerly subscribe and prepare for the trading launch at 2023-07-18 12:00 (UTC), the Arkham (ARKM) smart contract, built on ERC20, stands ready to usher in a new era of token innovation.
Follow CoinWire on Google News
