Binance, the world’s leading exchange—by volume—announced today that it will host the Tron blockchain’s gaming token, WINk ($WIN) on its token launch platform from Wednesday.
WINk is, in fact, a rebrand of the popular gaming platform, TRONbet—currently the highest ranked Tron dapp on tracking sites DAppRadar and DappReview. The new token ($WIN) will be launched as an initial exchange offering (IEO) on the Binance Launchpad, which also helps fund and invest in promising blockchain projects.
It becomes the seventh project on the token launch platform and the first dedicated to a gaming project. It’s a sector, Binance CEO and Founder, Changpeng Zhao, believes has great potential, according to the announcement.
“Compared to centralized marketplaces, decentralized gaming platforms provide a wide range of tangible benefits from allowing users to keep complete custody of their funds, to fairness and security ensured by auditable smart contracts,” he said in the announcement. “We hope that hosting WINk on Binance Launchpad will showcase the advantages of blockchain-based gaming and help advance this space for others.”
Binance Launchpad has, to date, raised a total of $27.2 million for its IEOs, according to a report by ratings website CoinGecko. Demand has, apparently, been so extreme that some IEOs have sold out in minutes. This lead Binance to introduce a lottery-like system, where entrants must have a certain amount of Binance’s own token, the BNB, in order to qualify.
The WINk IEO—which has a hard cap of $6 million—will follow this format, with a one-week “BNB holdings period.” This means that users will need to hold their BNB for seven days before receiving lottery tickets.
There will be a maximum of 200,000 winning lottery tickets, with $30 allocated to each winning ticket. Some feel that’s small beer, but to Binance, it’s just business as usual.