Binance announced via her official site Announcing the launch of a new IEO subscription for the Band project.

Subscribing this time on Binance requires holding BNB for an average of 30 days, twice as long as earlier.

Also, the recent Binance IPO of the Perlin project yielded little returns, which makes holding BNB for a long time expensive and may not bring the expected.

What is the Band project?

Project Band succeeded in getting the next subscription opportunity on Binance platform.

The project, which is based on the Layer 2 Blockchain protocol, which has a unique model that supports multiple tokens and ensures that the information handled is completely tamper-free, aims to make data easily available on the blockchain network and provides faster and cheaper solutions compared to existing protocols.

Read:Terra USTC Price Rise 160% Will it Recover and Rise Further?

Band project subscription terms:

As we mentioned earlier, the period of holding BNB currency has been added and extended, as people wishing to enter the new subscription must keep their BNB account for 30 days.

Among other things, Binance also changed the condition of the maximum investment allowed, as the amount was reduced to $ 300, which was $ 500 in Perlin’s subscription.

As for the allocation of winning tickets is the same as before.

As for the total number of winning tickets, it was set at 19,500 tickets, which is more than the previous subscription.

The withdrawal is scheduled for September 17, and the next day the tokens are available for trading on the Binance platform.

Investors’ concerns:

Looking at the previous subscription on the Binance platform related to the Perlin IPO, we find that investors held BNB for 15 days, during which time the value of BNB decreased by about 10%.

In view of the current subscription conditions, which require holding the currency for a period of 30 days

We find that those who want to get 10 tickets have to keep 500 BNB

Read:The month of September and the price of Bitcoin…a painful history with an average loss of 12% over the past three years

Which is currently estimated at $22 per unit, which means $11,000 to qualify and get 10 lottery tickets (of course, you may not win or a ticket).

Which means the possibility of a loss on the back of the fall in the price of BNB coin.

Even if I win, the return on investment in coins written on Binance in the last two issues has been disappointing.

This makes investors’ fears increase, especially in light of holding large amounts of BNB for a long time and not achieving the desired investment return from the subscription process.

Read also:

The crypto community outraged after the announcement of the results of the Binance IPO

What are the returns on investment from participating in cryptocurrency IPOs (IEOs)