After the PERLIN 8th project, Binance has just introduced the 9th project on Binance Launchpad called Band Protocol. As usual, BNB increased immediately upon announcement.
Let’s CHK Find out the project information about this Launchpad 9 project.
What is the BAND Protocol project?
BAND Protocol is a blockchain protocol that enables developers, companies, brands, and celebrities to issue personalized community tokens. This token is for managing data in their own community.
The main functions are to bridge the gap between decentralized applications and real-world data; ensure accurate and reliable data through economic incentives. The Protôcl BAND will be initially built on top of Ethereum, but the protocol itself is not restricted to the Ethereum infrastructure. If the protocol is more widely adopted, it will support all leading smart contract platforms.
BAND electronic currency
BAND is the native token of the ecosystem. They were initially released as ERC-20s on the Ethereum Blockchain. Besides, the Band Protocol ecosystem has another token, called the dataset token.
BAND token – Represents the common value of all datasets within Band Protocol. Main use cases:
- Collateral to issue the dataset token
- Network administrator
- Participating in BandChain consensus algorithm
Dataset token – Represents ownership stake in a specific data set within Band Protocol. Main use cases:
- Data provider stake dataset token to earn data provider placement
- Stake to participate in data provider management
- Vote to make decisions regarding data issues
Token governance and fund usage
As of September 2019, Brand Protocol used about 5% of the amount. The funds raised will be spent according to the following allocation:
- Technical and business development: 60%
- Marketing: 20%
- Activity: 10%
- Legal and audit fees: 10%
Funds will be raised in fiat or stablecoins to avoid risks of fluctuations in cryptocurrency prices. Funds will be stored in a multi-signature wallet, which requires at least 2 out of 3 signatures if you want to withdraw money.
BAND token issuance schedule
The following chart shows the intended number of BAND tokens to be issued monthly:
- Seed Sale accounts for 10% of the total supply
- Private Sale accounts for 5.00% of the total supply
- Public Sale accounts for 12.37% of the total supply
- The ecosystem accounts for 25.63% of the total supply
- Team accounts for 20% of the total supply
- Advisor accounts for 5% of the total supply
- The Foundation accounts for 22% of the total supply
About Seed Sale
- Implementation from August to October 2018 with the price 0.30 USD / BAND
- Earned a total of $ 3 million, accounting for 10% of the total supply
- Only mobilize USD
About Private Sale
- Implementation from June to August 2019 with the price 0.40 USD / BAND
- Earned a total of 2 million USD (including 1,875,000 USD and 125,000 USDC), accounting for 5.00% of the total supply
About Public Sale
- Conducted in September 2019
- Expected to collect 5.85 million, at 0.473 USD / BAND
- Accounting for 12.37% of the total supply
- The BAND / BNB exchange rate will be determined prior to the sale date
You can hold it in wallets that support the ERC-20 token format (see details here). Besides, you can also keep on BAND-listed exchanges (Binance, ChangeNOW) or on TrustWallet wallet. In addition, the development team recently released a wallet Band, which makes it easier for users to store tokens in a dedicated wallet.
Roadmap and achievements dBand Protocol (BAND) project
- Issue alpha CoinHatcher
- Beta issue of CoinHatcher with token integration
- Edit the whitepaper
- Release its own testnet
- Smart contract security audit
- Public release of testnet
- Issuing Band Protocol on the Ethereum mainnet
- Release the BandChain whitepaper for public reviews
- Release the financial feed on Band Protocol
Quarter 1 of 2020
- Band Protocol integration for Layer 1 blockchains
- Launch events, on-demand, and identity feeds on Band Protocol
- Released BandChain’s own testnet
- Revamp Band management portal on Web and mobile platforms
- Release the BandChain public testnet
- Complete BandChain security audit
- Integrate existing applications and data providers into BandChain
- To issue mainnet BandChain
- Complete the token migration to BandChain
Trade partnerships and business development
TroyTrade announces cooperation with Band Protocol
Constant partnered with the project to offer a P2P loan with BAND tokens
Project shaking hands with DeSapes and WoodstockFund to provide financial data
BAND partners with 2keyNetwork to provide financial feeds and real-world events for smart contracts
Itisportal cooperates with the project to integration BAND with KaizenCLI to provide financial feeds for
Overview of the development team
Soravis Srinawakoon (CEO): Former management consultant at BCG, honored by Forbes
Sorawit Suriyakarn (CTO): Formerly a developer at Hudson River Trading, Software Engineer at Quora and Dropbox
Paul Nattapatsiri (CPO): Former web developer at Turfmapp, engineer at Trip Advisor. Bronze Medal for the Asia-Pacific Informatics Olympic Games
In addition, many talents were also mobilized to become a part of the project’s soul
BAND transaction data
Liquidity: As of September 6, 2019, BAND tokens are not actively traded on any exchange.
Public Github repository
Band: The monolithic repository of Band Protocol
Contracts: Solid Protocol’s smart contracts
Governance-portal: An administrative portal for token holders to interact with the Band Protocol
Bandchain: Prototype of blockchain on Tendermint
Private Github repository
CoinHatcher: News portal
Wallet: The wallet’s server and user interface in Band Protocol’s Web3 browser
GraphQL2: Infrastructure for signing up for Ethereum and generating GraphQL results in real time
Data management portal
Provides a user-friendly interface for exploring datasets in the Band Protocol ecosystem. Users can buy Dataset tokens, stake them to trusted vendors, and vote on governance parameters.
Explore Dataset token
Instant buying and selling: Users can switch between token Band and Dataset at any time without going through a third party.
Comprehensive metrics: Maximize transparency in terms of market cap, token supply, and recent transaction history.
Explore the data
At any time, users can view data without querying from the smart contract interface. The data providers and their contributions are also transparently illustrated in time series graphs.
Stake for data providers
Users can earn a portion of data query fees by staking their tokens to trusted data providers.
Band Wallet is a non-custodial Web 3.0 wallet. They are optimized to hold BAND and Dataset tokens without requiring external browser extensions. Once set up, users can transfer BAND and Dataset tokens through the Data Management Portal.
Community and social channels
Telegram (English) | 14.2K Members
Twitter (English) | 2.3K Followers
Medium (English | 990 Members
Facebook (Thai) | 697 Likes
Reddit (English) | 683 Followers
How to own BAND token?
- Join the IEO
- Buy BAND on exchanges that list tokens or staking
- Join the exclusive programs of the project
- Perform project work (such as security, …) to receive rewards
How to make a profit from the BAND
Since this is a new project, you do not have much choice in this regard other than trading or holding on token-listed exchanges. In addition, you can follow the “Lending” section of Binance to see if they have support for this token.
Should we invest in BAND coin?
With the above in-depth analysis, CHK Hope you have enough information to make the best decision.
BAND Project Details On Binance Launchpad
- Token name: BAND
- Launchpad Hardcap: $ 5,850,000
- Total Supply: 100,000,000 BAND
- Allocation on Binance Launchpad: 12,368,200 BAND (12.37% of total token supply)
- Public token sale price: 1 BAND = 0.473 USD (price in BNB will be determined before the lottery draw date)
- Token sale format: Lottery & Airdrop
- Maximum number of winning tickets: 19,500
- Allocation for each winning ticket: 300 USD (634.25 BAND)
- Total airdrop: 631,800 BAND (about 300,000 USD)
- Supported sessions: BNB only
- BAND is issued as: ERC-20
- At 7:00 am (Vietnam Time), August 17, 2019 to 7:00 am (Vietnam Time) September 16, 2019: Balances will be taken daily for 30 days. Average balance taken daily over 30 days will determine how many tickets you can receive.
- At 1:00 pm (Vietnam Time), September 16, 2019: Eligible users can get tickets within 24 hours. The user must also sign the Token Purchase Agreement at the same time, prior to completing the ticket request. Please note that users will only be able to claim tickets once.
- At 1:00 pm (Vietnam Time), September 17, 2019: The ticket collection request will be closed and the lottery begins.
- At 3:00 pm (Vietnam time), September 17, 2019: Winning tickets are announced and the respective BNB will be deducted from the winning user’s account. Please ensure you have enough BNB in your account to deduct within 24 hours if you have a winning ticket.
- At 3:00 pm (Vietnam time), September 17, 2019: After this time, the airdrop will be distributed to the unsuccessful tickets.
Lottery ticket distribution
User can get up to 10 tickets depending on average daily balance (X)
Launchpad Win Rate Prediction 9
Due to the general situation, Altcoins are all decreasing and BNB is no exception when BTC Dominance increases by more than 70%. So some investors seem discouraged, so the number of participants may decrease compared to the previous period. The winning rate can be 3 times higher than the previous period and with a Hardcap of 5,850,000 USD, each winning ticket from 500 USD is reduced to 300 USD, the price can be x5 compared to the IEO price.
So CHK has informed you of the 9th launchpad phase of Binance floor. Hopefully the above article can provide all the information you need. Wishing you a successful investment!
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