Learn about the new subscription of the “LAZIO” coin on the Binance IPO platform

Learn about the new subscription of the “LAZIO” coin on the Binance IPO platform

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Answer Learn about the new subscription of the “LAZIO” coin on the Binance IPO platform

Binance IPOs, which is an offshoot of the main Binance platform and is dedicated to showcasing new projects and allowing investors and traders to get initial purchases before listing the new digital currency for trading, has announced a new IPO.

New subscription The project will be the number 22 since the beginning of the subscriptions on the Binance platform, which will concern the digital currency “LAZIO” representing the Italian club Lazio.

Details of the new LAZIO subscription:

The digital currency subscription will follow the format of the Binance IPO, whereby users’ balances of BNB will be recorded starting tomorrow at 00.00 pm UTC October 14, 2021.

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Binance will record users’ BNB balances for 7 days from October 14 to October 21 at 00:00 GMT.

Then the amount of final BNB retained for each user will be determined as the average of the seven days, using the calculation of the daily average BNB balance.

Additional details about the LAZIO subscription:

The name of the subscribed cryptocurrency: Lazio Fan Token (LAZIO).

Amount to be raised from subscription: $4 million.

Maximum allowed per user: $20,000 (20,000 LAZIO).

Total coin supply: LAZIO 40,000,000

Total cryptocurrency for Binance subscription: 4,000,000 LAZIO (10% of the total coin).

Public selling price: 1 LAZIO = 1 dollar (price will be determined in BNB before signing up).

Sale Format: Subscribe

Supported currencies for purchase: BNB only

Subscription schedule:

Preparation period:

From October 14, 2021 00:00 AM (UTC) to October 21, 2021 00:00 AM (UTC).

During this period, the user’s BNB balances will be calculated in hourly snapshots for each day over the 7-day period.

It will determine the average daily BNB balance during these 7 days and calculate the maximum amount of BNB that can be committed later.

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Subscription period:

It begins on October 21, 2021 at 6:00 am (UTC) and continues until the same day at 10 am.

That is, the subscription will open at this time to all eligible users for a period of 4 hours.

Users must also sign the digital currency purchase agreement at the same time, before committing to BNB.

Please note that once you commit, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until the cryptocurrency is finally distributed.

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Calculation period:

It starts on October 21, 2021 at 10:00 a.m. (UTC) and continues until the same day at 11:00 a.m.

That is, the calculation period takes 1 hour.

The final digital currency distribution will be on October 21, 2021 at 11 am (UTC).

The number of cryptocurrencies will be finalized and the corresponding BNB will be deducted from the amount of BNB that has already been locked.

Once debited, both LAZIO and BNB tokens will be transferred to the instant wallet.

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