- The project aims to build better crypto industry infrastructure
- The cap is USD 1500 to include more investors
- The tokens can only be bought using BNB tokens
Crypto investors who missed the opportunity to purchase into BitTorrent (BTT) or Fetch (FET) have another chance to diversify their assets. Such investors can take advantage of the upcoming Binance Launchpad to own Celer Network (CELR) tokens.
As per an official Binance blog post on March 7, 2019, the primary sale of CELR coin is scheduled to occur on March 19, 2019, at 2:00 pm UTC where only BNB tokens will be accepted. The decision by Binance to support the Celer project may have been influenced by the project’s aim to build up the cryptocurrency industry’s development tools and infrastructure to promote utility frameworks and real-world use cases.
Celer at the Forefront of Solving Scalability
The Celer network runs a blockchain whose agnostic architecture enables real-time, secure and comfortable blockchain transactions through layer-2 scaling and incentive-aligned economics. Speaking about their decision to support the upcoming sale, Binance CEO Changpeng Zhao (CZ) stated:
“The lack of valuable solutions and good user experiences of blockchain-based technologies are caused by its limited scalability possibilities which have been a major hurdle towards unlocking its significant adoption potential to date, […] Celer is currently at the forefront of solving this challenge with the early demonstrations of its sustainable crypto economics construct and layer-2 blockchain architect powering it.”
The Celer network is the brainchild of four individuals who graduated from prestigious colleges like MIT, Princeton, UIUC and UC Berkeley with their primary focus being the creation of a network that offers a highly scalable and decentralized solution for users of off-chain solutions. The network’s main product is a 2-layer solution that charges zero off-chain smart contract fees, meaning transactions are likely to become faster than many other competing tokens.
Spread out the Tokens to More Investors
In contrast to the two previous sales, the CELR coin will have an individual cap of USD 1,500, meaning that each investor will only be allowed to buy a specified number of coins using a single account.
There is speculation that just like in the case of the BitTorrent (BTT) sale that took only 15 minutes, the sale could also end prematurely, even though the CELR project isn’t as famous as BTT.
The individual cap on this case was USD 20,000, and most people spent all their savings on the tokens, and a considerable number of potential investors were locked out of the sale.
In trying to diminish the problem, the developers set the bar at USD 3,000 but didn’t stop the prospects from clearing the stock of tokens so that only a paltry 2,758 people out of the 19,860 applicants managed to get a stake.
The idea now is to enable at least 5,000 people or thereabouts to buy the tokens hence the $1,500 cap to try and spread out the tokens. The CELR token sale lasts from March 19 to March 24, with a total of 10,000,000,000 CELR and almost 60% of them will be on Binance Launchpad with each token costing 0.0067 USD can only be bought using BNB tokens.