Recently, Binance announced the completion of the Arkham Launchpad subscription through its official Twitter page. The exchange will initiate five ARKM trading pairs: ARKM/BTC, ARKM/USDT, ARKM/TUSD, ARKM/BNB, and ARKM/TRY, scheduled for 18 July 2023 at 12:00 UTC.
The total token supply for Arkham is 1 billion ARKM, of which 50 million were allocated to Binance Launchpad, accounting for 5% of the total supply at a pre-determined sale price of $0.05.
On 11th July Binance introduce the ARKM token to sale. It has met with unprecedented demand, drawing the participation of 114,454 users committing a staggering 10,182,983.2626 BNB, resulting in an oversubscription rate of 990 times.
To protect users from potential high volatility, Binance has introduced an innovative initial price limit mechanism.
For the first five minutes of trading, the maximum transaction price will be capped at ten times the public sale token price, equivalent to $0.50 for ARKM. After this initial period, trading will continue without restrictions.
As an added benefit for users, the ARKM/TUSD trading pair will offer zero maker fees until further notice, encouraging active trading within the ecosystem.
Throughout the subscription period, Binance carefully 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 to other users, ensuring a fair and inclusive process.
For those who participated, the final allocation details are as follows:
- Users who committed 50 BNB received an allocation of 246.1109 ARKM, with 0.05063977 BNB deducted from their accounts.
- Users who committed 500 BNB were allotted 2,461.1088 ARKM, with 0.50639775 BNB deducted.
- Users who committed 5,000 BNB secured an allocation of 24,611.0879 ARKM, and 5.06397745 BNB were deducted.
Within 60 minutes of this announcement, the corresponding BNB tokens will be deducted from users’ already-locked BNB balances.
Once the deduction is completed, both ARKM tokens and the remaining BNB will be seamlessly transferred to users’ spot wallets, ensuring a smooth transition for all participants.
As Binance readies for ARKM trading to go live, users and investors eagerly await the opportunity to engage with this groundbreaking platform.
With the introduction of the initial price limit mechanism, Binance continues to prioritize user experience and safety while providing a platform for seamless cryptocurrency trading.
