Binance has recently announced an update to the daily BNB balance calculation mechanism for Binance Launchpad subscriptions. The move comes in response to concerns raised by some users who have been exploiting the snapshot logic to gain an advantage in participating in Launchpad.
Previously, an hourly snapshot was taken at any point in time to calculate a user’s daily BNB balance. However, Binance has now updated the mechanism to take multiple snapshots at any point in time. The update will only apply to Binance Launchpad participants and will not impact users’ VIP levels or the referral program.
According to Binance, the update is aimed at ensuring a fair user experience for all participants. Some users had been borrowing large amounts of BNB on other platforms for high-frequency deposit and withdrawal, resulting in a significant advantage in Launchpad participation. With the new mechanism in place, Binance hopes to prevent such practices and ensure equal opportunities for all.
For Space ID Launchpad participants, their daily BNB balance records will be available on March 22 at 02:30 (UTC). Users may not be able to view their daily BNB balance records on Binance Launchpad before this time.
#Binance Launchpad Reveals #SpaceID (ID) as Its 30th Project, Token Sale to Begin on March 17th @azcoinnews https://t.co/AGW9XpyWET
— AZCoin News (@azcoinnews) March 16, 2023
The update has been met with mixed reactions from the community, with some users welcoming the move and others expressing concerns over its potential impact on their participation in Launchpad.
In conclusion, Binance’s update to the daily BNB balance calculation mechanism for Binance Launchpad subscriptions is aimed at ensuring a fair user experience for all participants. With the new mechanism in place, Binance hopes to prevent users from exploiting the snapshot logic and ensure equal opportunities for all. It remains to be seen how this update will impact the Launchpad participation of users going forward.
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