In order to protect consumers from severe volatility, Binance has stated that its new Launchpad Arkham (ARKM) will test an initial price limit mechanism where, for the first five minutes of trading, the maximum transaction price is set at 10 times the public auction token price.
Binance Implements Price Limit Mechanism to Prevent New Launchpad Arkham from Price Volatility
As of July 17, 2023, 06:00 (UTC), until July 18, 2023, 06:00 (UTC), a new token known as Arkham (ARKM) will be available for purchase on Binance’s Launchpad. Using a BNB price of 243 USD, the BNB rate for the ARKM token sale has been set at 0.00020576 BNB or 0.05 USD. On July 18, 2023, at 12:00 (UTC), Binance will commence trading for the ARKM/BTC, ARKM/USDT, ARKM/TUSD, and ARKM/TRY trading pairs after listing Arkham (ARKM) in the innovation zone.
About the Price Limit Mechanism
In order to safeguard customers from significant volatility when trading under Launchpad, the maximum transaction price is set at ten times the token’s public sale price during the first five minutes of trading. There won’t be any restrictions after the first five minutes, and trading will continue as usual.
This first price limit mechanism is only being used as a test for the launch of the ARKM token. So, it is not yet known if it will be a constant feature of all future Launchpads.
ARKM Token Allocation Results to be Announced on July 18
On July 18, 2023, at 7:00 (UTC), the final ARKM token allocation results will be announced. Within 60 minutes of that time, the corresponding BNB will be taken from users’ already-locked BNB amounts. Users’ ARKM and remaining BNB tokens will both be moved to their spot wallet once they have been subtracted.
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