Only a 5% winning rate, many users disappointed with the results of Binance's IEO lottery.

The IEO platform of the well-known exchange Binance announced the lottery results for its latest token sale Perlin on August 25th. Many users complained on Twitter about the low winning rate this time.

Ever-Changing Lottery Rules

According to a report, the lottery rules regarding Binance Launchpad have been constantly changing. This time with Perlin, not only was the winning probability significantly reduced, but Binance also extended the holding period for BNB tokens from 7 days to 15 days.

In fact, the rules for Perlin this time are more like Elrond's release in July, where the number of winners was 10,833, with a winning rate of 11.07%, while WINK had a winning rate as high as 23.87%. Furthermore, Elrond had a return rate of 13 times, while WINK's was relatively lower at about 3 to 4 times.

Each winning ticket will be exchanged for 6,457.5 PERL tokens at a rate of $26.90 per BNB as previously announced by Binance, approximately 1 PERL equals $0.07743 or 0.00287844 BNB. This Binance token sale accounts for 8.38% of the total project supply.

Binance Launchpad will airdrop a total of 3,874,500 PERL tokens to the 29,755 participants who did not win.

Further Reading

• Huobi's wallet to support MakerDAO tokens
• Benefits for short-term traders: SimetriResearch to launch new platform for short-term trading data

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