In an exciting announcement, Binance, one of the leading cryptocurrency exchanges, revealed the successful completion of the Arkham Launchpad subscription via its official Twitter page. The exchange wasted no time and initiated trading for five ARKM trading pairs: ARKM/BTC, ARKM/USDT, ARKM/TUSD, ARKM/BNB, and ARKM/TRY, commencing on 18th July 2023 at 12:00 UTC.
— Binance (@binance) July 18, 2023
A Promising Token Supply
The total token supply for Arkham stands at 1 billion ARKM tokens, with 50 million ARKM tokens allocated to Binance Launchpad. This allocation accounts for 5% of the total supply and was offered at a pre-determined sale price of $0.05.
Unprecedented Demand and Innovative Mechanism
Since the introduction of the ARKM token sale on 11th July, it has garnered unparalleled demand, attracting the participation of an astounding 114,454 users. These users committed an impressive 10,182,983.2626 BNB, resulting in an oversubscription rate of 990 times.
To safeguard users from potential high volatility, Binance implemented an innovative initial price limit mechanism. During the first five minutes of trading, the maximum transaction price was capped at ten times the public sale token price, equivalent to $0.50 for ARKM. After this initial period, trading continued without any restrictions.
Zero Maker Fees and Fair Allocations
As an added benefit to users, the ARKM/TUSD trading pair offers zero maker fees until further notice, incentivizing active trading within the ecosystem.
Throughout the subscription period, Binance diligently analyzed user commitments and calculated the final allocation for each participant based on their BNB balances. While three participants reached the 300,000 ARKM hard cap, the remaining allocation was distributed among other users, ensuring a fair and inclusive process.
Final Allocation Details
For participants who committed 50 BNB, an allocation of 246.1109 ARKM tokens was granted, with 0.05063977 BNB deducted from their accounts. Users who committed 500 BNB received an allotment of 2,461.1088 ARKM tokens, with 0.50639775 BNB deducted. Finally, those who committed 5,000 BNB secured an allocation of 24,611.0879 ARKM tokens, and 5.06397745 BNB were deducted accordingly.
Within 60 minutes of the announcement, the corresponding BNB tokens were deducted from users’ already-locked BNB balances. Once the deduction was completed, both ARKM tokens and the remaining BNB were seamlessly transferred to users’ spot wallets, ensuring a smooth transition for all participants.
An Exciting Future for ARKM Trading
As Binance prepares for ARKM trading to go live, users and investors eagerly await the opportunity to engage with this groundbreaking platform. With the implementation of the initial price limit mechanism, Binance remains committed to prioritizing user experience and safety while providing a seamless cryptocurrency trading experience.
Binance’s completion of the Arkham Launchpad subscription and the subsequent opening of ARKM trading pairs mark a significant milestone in the cryptocurrency industry. This achievement showcases the ever-growing demand for innovative blockchain projects and the unwavering commitment of Binance to facilitate secure and accessible trading opportunities for its users.
- What are the ARKM trading pairs available on Binance? The ARKM trading pairs on Binance include ARKM/BTC, ARKM/USDT, ARKM/TUSD, ARKM/BNB, and ARKM/TRY.
- What was the oversubscription rate for the ARKM token sale? The ARKM token sale on Binance experienced an oversubscription rate of 990 times, highlighting the overwhelming demand from users.
- Are there any fees associated with the ARKM/TUSD trading pair? Currently, the ARKM/TUSD trading pair offers zero maker fees until further notice, encouraging active trading within the ecosystem.
- How were the final ARKM token allocations determined for participants? Binance calculated the final allocation for each participant based on their BNB balances. While some participants reached the hard cap, remaining allocations were distributed among other users to ensure fairness.
- What measures did Binance implement to protect users from high volatility during the initial trading period? To mitigate potential high volatility, Binance introduced an initial price limit mechanism, capping the maximum transaction price for the first five minutes of trading.