Binance has introduced its partnership with the Alpine Formula One team. Through this alliance, Binance is ecstatic to add ALPINE token sales on its Launchpad.
The event is slated to occur on February 16, 2022, at 16 00:00 AM (UTC). This means that the ALPINE token sales event on Launchpad will last for a minimum of 5 days. To note, the ALPINE token sale will follow the same Binance Launchpad subscription format.
In detail, the token’s sale has a “preparation period, subscription period, calculation period, and final token distribution” time. Binance will initiate a new move to record users’ BNB balance from Feb 16, at 6 00:00 AM (UTC), to Feb 21, at 00:00 AM (UTC). From there, Binance will take a step forward and calculate users’ BNB tokens in hourly snapshots the same way as the Daily Average BNB Balance calculation.
Furthermore, eligible users will have the option to subscribe to the sale from Feb 16-21. To subscribe, users will have to sign the “Token Purchase Agreement” before committing BNB. Once committed, users’ BNB will be locked automatically until the final token distribution date.
Finally, on the last day which falls on Feb 21, Binance will calculate the allocated locked funds and transfer users ALPINE and BNB tokens to their respective spot wallets.
ALPINE Token Sale Details:
Token Name: Alpine F1® Team Fan Token (ALPINE)
Launchpad Hard Cap: 4,000,000 USD
Hard Cap Per User: 10,000 USD (10,000 ALPINE)
Total Token Supply: 40,000,000 ALPINE
Total Tokens Allocated to Binance Launchpad: 4,000,000 ALPINE (10% of Total Token Supply)
Public Sale Token Price: 1 ALPINE = 1 USD (price in BNB will be determined prior to subscription)
Token Sale Format: Subscription
Supported Sessions: BNB only
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Source: Cryptocurrency - investing.com
