Mar 23, 2021 08:01 UTC
Mar 23, 2021 at 08:01 UTC
More than 100K investors are trying to contribute in CasperLabs’ contribution on CoinList, but only about 12K are probable to secure tokens.
That is about 10X more contenders than are probable to safe tokens in the sale.
It is the first of 3 stages to Casper’s token sale and began on March 23 at midnight UTC. Investors are rival for 800m CSPR tokens at prices of $0.015, with the tokens subject to a 12-month lock-up. Participants are imperfect to purchasing between $100 and $1k value of tokens each.
If every investor invests the full $1K allocated to them, only 12K investors will be capable to participate. With 15% of tokens previously sold and more than 100Kpeople queued up, the only method everyone will be helped is if each investor tips a scanty $102 into the sale.
Investors wanting to contribute in Casper Labs’ CSPR token sale on CoinList are in for a rude shock, with more than 100K investors line up up for the sale so far.
The token sale has wrecked the preceding record for signups on CoinList, thought be the community sale for Dapper Labs’ FLOW token which had more than 12K people.
After getting more than 100K sign-ups for Casper’s contribution, CoinList abridged purchase limits and raised up the number of tokens allocated to each phase of the sale. The first phase allocation increased from 400 million CSPR (or 4% of genesis supply) to 800 million tokens (or 8%). Purchase limits were reduced from $5,000 to $1,000.
The sale’s second phase, which launches on March 25 and will see tokens sold for $0,02 with a six-month lockup, saw its allocated supply increase from 300 million to 400 million and its maximum purchase size reduced from $1 million to $250,000
The final phase of the sale will distribute tokens that will freely trade after a 40 day-vesting period. Its allocation increased from 300 million to 400 million, while purchase limits dropped from $30,000 to $5,000.
In a bid to prevent website outages amid high demand from investors, as was seen during Near’s offering on CoinList in August 2020, CoinList implemented virtual waiting room software for the Casper sale.
After beginning life as a development team working on Proof-of-Stake scaling for Ethereum 2.0, Casper Labs announced it was pivoting to build its own blockchain in April 2020. In February 2021, the team announced it had partnered with China’s Blockchain Service Network to make its smart contract platform available to developers building on the BSN.
Despite the surging demand for Casper’s token, a former employee filed a lawsuit against CapserLabs accusing the team of distributing misleading marketing materials ahead of the sale.