Elrond (ERD) is Binance new IEO, BNB exchange rate rises nearly nine percent

The latest Initial Exchange Offering (IEO) has been announced on the Binance Launchpad website, this is called Elrond and the abbreviation is ERD. If you want to participate in the IEO, you can claim your ticket in 9 days.

What is Elrond?

Elrond is a public blockchain aimed at providing safety, efficiency, scalability and interoperability by using two important elements: Adaptive State Sharding and the consensus mechanism is a variant of Proof of Stake chosen. An IEO (or ICO) really can’t do without such nice words and difficult terms.

The Elrond team claims that they have reached a peak of 12,5000 transactions per second on the “Zero to One” test network.

Furthermore, the hard cap is 3.25 million dollars and the total amount of tokens is 20,000,000,000 ERD. A quarter of this is made available through the IEO. The price for 1 ERD is now $ 0.00065.

Elrond has already held a closed sale

Part of that total stock has already been forgiven during a closed financing round. This is organized by Elrond and Binance together. Employees of Binance Labs, Electric Capital, NGC, Maven 11 Capital, Authorito Capital and Binance angels were able to participate. With this, Elrond raised 1.9 million dollars.

A number of the ERD tokens are issued on the Binance Chain as BEP2 tokens. This means that the tokens can also be traded on the decentralized exchange of Binance.

Also good for a Binance coin (BNB)

Binance uses a lottery model to determine who can participate in the Initial Token Offering. Only users who have registered up to level 2 (including ID verification) and hold a certain number of binance coins on their account may participate in the lottery. You need at least 50 BNB to win a ticket, but the more BNB you have, the more lotteries you can take part in.

And this again influences the price of binance coin. And that price shows the same as after all previous IEO announcements. From the moment that Elrond was announced as IEO, the price has risen by 8.68 percent.

Do you want to participate in this IEO? Then check the Binance website for more information.