Centralized crypto exchange Binance announced that Arkham (ARKM) will become its 32nd token sale project on its launchpad platform.
The Arkham (ARKM) token sale officially began on July 17 on Binance’s launchpad, the 35th project on the platform and the largest cryptocurrency exchange in the world by trading volume.
The debut of ARKM, however, will be distinct because safeguards will be in place to “protect investors from volatility.” In addition, Binance announced that for the first five minutes, the launch price of the ARKM will be $0.50, which is 10 times the general sale price.
“There will be no restrictions, and trading will continue as normal” after the five-minute cutoff and the asset’s price will also revert to normal. This is the first time the 10X price mechanism has been tested, according to Binance.
However, it was unclear from the exchange whether the same approach would be taken going forward. Binance also stated that the subscription cutoff is July 18 at 6:00 UTC.
Users may only use BNB from their spot wallets and commit BNB depending on the average past six-day balance. The notification states that one hour after the deadline has passed, the final ARKM allocation results will be made accessible to the public.
A few hours after the exchange claimed to have incorporated the Bitcoin Lightning Network, more information on the ARKM launchpad became available.
However, the cryptocurrency world had a mixed response to the introduction of the Arkham marketplace. The blockchain intelligence platform is alleged to have amassed sensitive user information.
