Crypto exchange giant Binance has declared Arkham (ARKM) as the 32nd token sale project to be hosted on its Launchpad platform. The upcoming Arkham token sale, slated for the Binance Launchpad, holds a total hard cap of $2.5 million. A maximum of $15,000, equivalent to 300,000 ARKM tokens, has been set as the cap for each user. Out of the 1 billion total ARKM tokens supplied, 50 million have been allocated to Binance Launchpad, representing 5% of the overall supply.
WuBlockChain, a Chinese media reported about the announcement of Arkham by Binance in a Twitter thread:
A six-day monitoring period, starting from July 11 at 00:00 UTC, will be initiated by Binance to record users’ BNB balances. The final BNB holdings for each user will be determined as the average of their balances during this time.
Subsequently, eligible users can begin subscribing from July 17, a process lasting for 24 hours. During this time, users can commit their BNB on the exchange. On July 18, the final token allocation will be established, and the corresponding BNB balance will be deducted from each user’s account, with an equivalent number of Arkham tokens credited.
Arkham is a blockchain analytics platform that provides data about real-world entities and individuals involved in on-chain crypto market activities. In sync with the token sale announcement, Arkham also declared the launch of an on-chain intelligence exchange. This new feature enables users to trade data about blockchain address owners anonymously. Arkham touted the development on Twitter, saying it provides investigators a means to capitalize on their skills and caters to the escalating demand for on-chain intel.
The price for the public sale token is set at 1 ARKM, equivalent to $0.05. The value in BNB will be determined before the subscription period, according to Binance. However, users from Belarus, Cuba, the Crimea Region, the Democratic Republic of Congo, Iran, New Zealand, North Korea, South Sudan, Syria, the United States of America, and its territories are not eligible for the sale, as per Binance’s announcement.
Throughout the monitoring phase, Binance will determine users’ BNB balances via hourly snapshots over six days. The average daily BNB balance throughout this period will dictate the maximum amount of BNB users can commit during subsequent stages.
