Crypto Frontline

Binance’s ICO platform – Launchpad, continues to break record after record in terms of helping ICOs raise funds and reach their hard cap in just a few seconds. Launchpad had been a welcomed project at the beginning of 2019 and thus far it conduced 8 successful ICOs.

The last project supported by the platform was Celer, which had conducted its ICO on March 19^th. Like all the other ICOs, it had been a huge success, the company managed to sell more than 597 million CELR tokens within 17 minutes and 35 seconds, according to Binance’s blog.

Binance clients were able to get involved in the ICO and buy tokens only with Binance Coins, given that it had been just a BNB session. Users continue to be interested in projects backed by one of the biggest cryptocurrency exchange platforms. The Celer platform represents a layer-two scaling solution, enabling fast, easy, and secure off-chain transactions for payments, as well as smart contracts.

Celer done, Matic next

April 24^th will be another active day on the Launchpad platform, as another ICO project will get its turn. This time is about the Matic ICO, another layer-two scaling solution, which uses sidechains for off-chain computation using the Plasma framework and Proof-of-Stake Validation.

With key features like scalability, high throughput, smooth user experience, security, and public sidechains, Matic will aim to reach the $5 million hard cap this month, and given the results we’ve seen thus far, the tokens will be sold again within minutes. Blockchain-based applications that offer much better alternatives to software currently used continue to be of great interest among people still wanting to invest in ICOs.

Although funds raised by ICOs in the traditional way continue to fall in 2019, ICO platforms seem to be the exact antidote for the diminished trust that built up during 2018. Using its well-established reputation, Binance’s platform had thus far supported 5 different projects, in BNB and ETH sessions. The results do not communicate that the demand for new tokens is weak.

Instead, it shows that new projects lack trust and an exchange platform looks to be the perfect fit. Regulators across the globe had been talking about launching ICO portals, which could function similar to Launchpad. The main goal would be to filter scam ICOs and allow only compliant projects to be able to raise funds from the public. However, the implementation phase seems to be hard, which means Binance will continue to lead the way with its platform.