Celer Network Token Sale Raises $4M USD On Binance Launchpad

Announcements, ICO News, News | March 20, 2019 By:

Binance Launchpad, the exclusive token sale platform of crypto exchange Binance, has completed a $4 million sale of Celer Network (CELR) tokens.

Celer Network is a layer-2 scaling platform that claims to enable fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics.

The Celer Network token sale on Binance Launchpad, which is designed to help blockchain startups raise funding to develop products, was completed in 17 minutes and 35 seconds, with all 597,014,925 CELR tokens sold in a single session. Buyers were made to purchase CELR tokens using Binance Coin (BNB). The price of CELR during the token sale period was 0.000434 BNB, denoting that 1BNB is equivalent to 2,303.35821 CELR tokens.

Changpeng Zhao, CEO of Binance, said that there were minor problems during the token sale, including caching issue and network problem. However, Zhao said that they will “keep working on it for a better experience in the future.”

The Celer Network token sale was the third token sale conducted on Binance Launchpad. The first two were Fetch.AI (FET) and the BitTorrent token (BTT). The BTT sale concluded on January 28, with investors purchasing all 50 billion BTT tokens, worth of $7.1 million, in less that 15 minutes. The FET token sale raised $6 million dollars on February 25.